Don't get me wrong. Banks have their uses. When you're trying to buy multi-family properties to become a landlord and generate a stream of income, that's when you go to a bank. Or when you're trying to pull money out of the equity you've built up in a property, you should call on your local banker. But take my advice: go to a community bank. Forget the national banks. They don't give a damn about your business. Community banks will get to know you, and they can be assets down the line.

But basically, banks are idiots. The only see a narrow range of deals that appeal to them, and when something comes along that's outside that narrow range, they pass on it. When you get right down to it, they want to lend money to pretty people to buy pretty properties. Well, I'm not pretty, and the houses I buy ain't gonna win any beauty contests. Ironically, that's where you make the most money, but these twits don't know that.

After years of building relationships, I have a line of credit with a bank. But it's taken years of financial success, and I still have constraints, such as having to put up 30% of my own money. For the most part, forget banks. Always start with hard money lenders. You can either find them or develop them yourself. If you have a relative with money who's not invested in real estate, talk to him or her about investing with you. You might find a hard money source that only you know about. How sweet is that?

For more information on Real Estate Investing Strategies like theses, as well as a great deal of detailed information check out Renegade Real Estate Investor, by Mike Perl.

It's a complete Real Estate Investor's guide to buying properties with a No B.S. Renegade attitude.

To get the inside word on making some serious cash through real estate, and taking no prisoners.