With all of the bankruptcy, bailouts, and general economic woes in our economy and in the real estate world in particular, what does this mean for real estate investors? The answer: no one knows for sure. But what I do know is, it's a whole new world for investors, at least for this next season.

In the past, all you really needed was a decent credit score and a pulse to get a no money down, no doc, no problem here's your money loan! Those days are gone for now.

Gone are the days of traditional banks and mortgage companies providing:

• No money down loans on investment property-regardless of credit.

• Many/most loan products for investment properties in general.

This comes at a time when good deals are ripe for the taking. Foreclosures are at all time highs. Competition for these homes by investors is shrinking because fewer and fewer people can get the easy money to take advantage of these deals.

We are living in one of the biggest transfers of wealth in the history of our country, but who will be prepared with the intelligence, wisdom, resources, and guts to take action in this turmoil.

Making money in real estate is not brain surgery, you buy low and sell high. The details in between are what separate the winners and losers in this market.

So what should savvy investors do? The answer to funding your real estate deals is "private money" lenders.

Private money lenders are regular people who have money invested in bank cd's, money market accounts, retirement accounts, as well as other vehicles. These folks, like all investors, are looking for a good safe rate of return on their money. Finding these private lenders is the key to the next season of investors. What will it matter if you find the greatest deal in the world if you can't get the money to buy it?

The beauty of private lenders is they typically don't require credit checks or other typical due diligence that banks and mortgage companies require. These are typically people who know you and have some relative trust that you are not a crook in the first place. It's the property itself that is the sole determining factor on whether they loan you the money. Is it a good deal or not?

So, while you are sitting around watching the talking heads on television spread the gloom and doom, refuse to participate. Instead, start crafting your plan to invest in this market, and ride the wave of appreciation back up!

Unless you are independently wealthy, this plan must include private lenders! There are trillions of dollars waiting on you. What are you waiting on...Go get it!

I call you blessed.

Billy O'Neal