The short version:
Find the money to buy a depressed property in a great location, and then work your behind off.
The long version:
In our case, we exercised a line a credit against the equity in our home to come up with the funds. That only provide for half of what we needed, so we found a guy with cash who was as crazy as we were with whom to partner. We hired a lawyer to draw up an LLC to protect us, financially. Continue Reading