Just a quick reminder that we do have a free webinar on raising private money coming up in two weeks on February 11th, 2009.
I’ve invited Patrick, an experienced real estate investor that has raised a ton of private money on for the webinar and he will be training us on the best ways to find private money lenders, how to present to them and much more.
There really has not ever been a better time for raising private money for all your deals because interest rates are extremely low and there are more great deals out there than ever before.
Register for the free webinar using this link: https://www2.gotomeeting.com/register/321236082.
Until my next post,
James
We use the Marketing for Private Money checklist to remind us to do marketing to make sure that we have all the private money that we need to finance deals.
IMPORTANT NOTE: Please make sure you are properly licensed (if required) in your state before actively marketing for private money. We have additional information on that for our Real Estate Investor Bronze Members and/or contact your attorney for details.
Or, consider hiring a Private Money Coordinator using the How To Hire A Private Money Coordinator checklist to raise all the private money you need for your real estate investing business.
A Private Money Coordinator is someone whose sole job is to go out and raise private money for your business. Sometimes they are experienced mortgage brokers that are accustomed to raising money for other clients and you are just one of their clients. Other times they are working exclusively with your financing needs in mind with you as their only client.
We have extensive additional checklists, independent contractor agreement samples, private money presentations and much more in the Real Estate Investor Wiki if you are interested in hiring a Private Money Coordinator (or to use yourself if you want to raise your own money).
Until my next post,
James
While you should always be on the lookout for owner financing opportunities, it’s nice to have your own financing already in place to give you the flexibility to make all cash offers.
A great source of non-traditional financing is private investor loans. It’s a good idea to collect a list of private lenders that you can call when you have a new deal lined up. But where do you find them?
We find private investor loans in some of the most unlikely places.
Most of these lenders aren’t really lenders at all. In fact, many don’t even know they are in the market to lend money. You find these loans by talking to lots of people about what you are doing.
That’s right. You find these loans by talking. A lot. As you explain to your Uncle Tommy the type of investing that you do, and you ask him if he knows anyone who might be interested in putting his money into real estate, you may be surprised to hear him answer, “As a matter of fact I do know someone who’s interested – me.”
Many folks have chunks of money they are shuffling around between investments like certificates of deposit, money market accounts, etc. They are always looking for a better place to park their funds.
Many people have also heard that real estate is a great investment, but lack the knowledge and/or time to get involved. These are your perfect candidates for private money loans.
Busy professionals may have extra money to invest, and probably are interested in diversifying their portfolio into real estate, but simply lack the time to find, structure and manage their own deals.
You provide them a way to invest in real estate without having to invest their time. The great thing about finding these types of lenders is that you don’t have to “sell” anyone on the idea. Simply share what you are doing and ask them if they know anyone who might be interested.
The best way to find these lenders is to network. Meet lots of people and tell them what you do. Make sure your friends and family know what you do and know that you are always looking for interested private investors. You might be surprised at how many people raise their hand.
Until my next post,
James
P.S. Our Real Estate Investor Bronze Members who get access to our Real Estate Investor Wiki can access my own plan for raising private money including access to my special reports, private money presentation, information on how to hire a private money coordinator whose sole job–paid only on commission when they raise money you actually use–is to raise private money for your deals plus much more. Sign up for Bronze Membership today and access these additional, extremely valuable tools for raising money for your deals.
