Private Money Lenders - Where to Find Them and Grow Your Real Estate Investing Business
Categories: Private Lending
Tags: private investor investment real estate course alan Cowgill private money real estate no down payment private money to borrow no money down creative flipping real estate investing short sale private hard money lenders real estate money cash flow private lender foreclosure private money lender how to find private lenders Private lenders private lending wealth private loan lender private money loan money finding private lenders private money lenders private money real estate deal
To locate private money lenders people have employed many different successful techniques.
For instance I heard of a real estate investor that found their investor standing in line at a grocery store. It was a long line and he started up a conversation with an older gentleman standing behind him. The topic came around to real estate after the gentleman asked what the investor did for a living. As soon as the investor said he was a real estate investor the gentleman perked up and said how ironic because he was looking for an investment since the stock market had tanked. It is as easy as that. Now that investor is a millionaire and retired at 35 all because he had the guts to talk with someone while standing in line at the grocery store.
Answer ads placed from for sale by owner properties is another excellent way to find private investors. Having an excellent real estate agent on your side will help you greatly research these properties before you waste your time and the sellers asking for a loan they cannot provide. Most multiple listing services provide agents with a way to see if the owner owes anything on the property and how much and to what bank. Weeding out the properties that do not qualify in the comfort of an office is much better than after you have spent the time and energy to plan an offer and get the earnest money agreement to the seller only to have it rejected because they owe too much on the property.
You can still go to another private money lender, instead of working with the home owner but it makes your life a lot easier and makes your business run a lot smoother if you can know before putting in an offer on a property the exact situation the seller is in. This gives you so much more purchasing power because now you can plan your offer to satisfy what the seller needs and also what the property can provide. This also makes your offers a lot more successful so you are not wasting tome on investments that will never make you any money.
The biggest and best techniques when working with private money lenders is to treat them with the respect you would a boss or a prestigious client and keep them informed of your decisions and you will have an excellent contact for years to come.
I invite you to learn more about Private Lending and get FREE instant access to a 60 minute audio and 20-page eBook titled "Discover the Secrets of How to Fund Your Real Estate Deals with Private Lenders!" by going to http://realestatewealthtoday.com/FREE-eBook.html.
Mike Lautensack is a full-time real estate entrepreneur in Philadelphia, PA and creator of the Private Lending Presentation Kit. This powerful done-for-you kit is loaded with tools and techniques to attract and develop a consistent stream of private investors into your real estate business. To learn more about this kit and receive your FREE Real Estate Wealth Newsletter go to Private Lender Money Kit.
Lending money from a Hard Money Lender is easy but what is difficult is to find the right hard money lender.
Scott Williams
http://www.squidoo.com/tips-on-finding-hard-money-lenders
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Wow! Extraordinary. I love how you made the different successful techniques in tracing private money leaders.
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NO BROKERS-FINDERS-MIDDLE MEN ETC. PRINCIPAL BUYERS ONLY
I have a partial note for sale and I would like to sell it to a private investor. The original note was for a 1999 doublewide with 1/3 acre of land. I redid the home from top to bottom, it’s in great shape. I sold the land and home to a woman for $55,000 and she put down $5,000 as a down payment. The note is written up for $50,000 at 12% interest. The payments are $550.54 for 240 payments. I would like to sell the first 36 payments for $16,575.39. This will give you a 12% return on your money. I have this note in my IRA and will service the note for free. I set up a automatic payment to you each month to get paid regardless of if my customer pays or not. To weed out brokers etc I ask for proof of funds before sending any info.
Thanks
Jim Marki
864-616-8198
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This topics brings broad information on how to get private lenders.
"The biggest and best techniques when working with private money lenders is to treat them with the respect you would a boss or a prestigious client" I must abide this
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One best way is to make a regular search on the internet for "hard money lenders", "private money lenders" and loan lenders.
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You better be very certain of your value and ensure the term is definitely adequate using hard money. This is especially true with values plummeting as they currently are for multifamily assets. I wouldn't rule out further declines for single family, condos, and townhomes either in many areas.
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Berkley & Veller real estate offices are located in Southern Vermont in Brattleboro and the Mount Snow ski area and in Walpole, New Hampshire. For 45 years, Berkley & Veller Greenwood Country Realtors has been the area's leading independent full service real estate company serving Windham County in Southern Vermont and Cheshire County in Southern New Hampshire.
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Berkley & Veller real estate offices are located in Southern Vermont in Brattleboro and the Mount Snow ski area and in Walpole, New Hampshire. For 45 years, Berkley & Veller Greenwood Country Realtors has been the area's leading independent full service real estate company serving Windham County in Southern Vermont and Cheshire County in Southern New Hampshire.
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Private lenders can be regular people like the postal worker, the retiree etc. The bottom line is these people are usually earning a low return on their money at the bank and can be enticed to join your private lending program simply because you are giving them a higher return on their money.
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I hinted at the fact that when you lend privately, not only are you supercharging your savings by boosting your savings yields, but you’re providing needed and necessary capital that helps create wealth and opportunity for others—thereby contributing to the growth of the economy. This is an important aspect of trust deed investing (a.k.a. private lending), that shouldn’t be overlooked.
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