3 Keys To Raising Private Money For Your Real Estate Investing Business
The key to making money as a real estate investor is being able to close your deals for cash.
The challenge for most real estate investors is that they get stuck in the rut of trying to rely on banks, lines of credit and hard money lenders to fund their real estate deals. The problem with these forms of funding are plentiful. They take too long to get approved, they cost too much money, they required you to have great credit and the list goes on.
The solution is private money.
Private money is simply borrowing money from private individuals that are looking for higher returns and understand the security of real estate. The question becomes, how do you find people that already understand about private money.
Well, that is key #1 to getting private money. You probably won't find people that already understand the ins and outs of private money. It becomes your job to teach them what private money is, how it works and why it is a benefit to them. You must teach your potential lenders all
about the benefits of private money so they become comfortable and willing to do business with you.
Key #2 to raising private money becomes all about your potential lenders. The problem with most private money strategies is that most real estate investors present all about themselves. Frankly, no one cares about you.
Your potential private money lenders care about their returns and their security. So, shift the focus from you to them and you'll begin to see dramatically different results.
And finally, the #3 key to raising private money is to have your ducks in order. When you are teaching about how private money works, you must know the topic you are teaching about inside out. About the worst thing you could do in a private money meeting would be to lack a good, comprehensive presentation of information.
If you are the teacher, you must either have the ability to present the topic well from the fly or you must have the tools in your hands to help guide your steps through the presentation.
Getting private money for your real estate investing business is easier than most real estate investors make it out to be. With a few simple changes in your approach and by following a proven presentation strategy, you will get all the money you'll ever need to fund your real estate deals.
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