More Additions To The Resource Rolodex To Help You Locate and Network With Bankers and Lenders

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In reviewing a recent survey that I sent out to my students, I wasn’t surprised at all that funding a good deal is one of their top three concerns (the others being finding a good deal and selling it in today’s market).

There are lots of ways to fund your deals – I’ve listed below some of the techniques that I’ve used to find private money.  And remember, there are always friends and relatives  who are earning a paltry return with their banks who would LOVE to get a higher return by investing in Real Estate backed paper.  Better yet – for a lot more content, visit my website at www.realestateprofitcoach.com

Specifically, try the following:

1. Go to your local RE Investment clubs and ask around – most hard money lenders will be soliciting their wares saying, “Use my money!!”  And most likely, they’ll be the ones sponsoring the meeting (check near the punch and cookies in the back of the room)!

2. You should also be networking w/ other investors in your area to see who they use – that’s actually the best way to find local investors.

3. Check the Internet and the Yellow Pages for lenders.

4. Check the Scotsman Guide for a list of hard-money lenders nationwide.  They’ll be a bit more expensive that local private lenders.  Find them at www.scotsmanguide.com.

5. Advertise on Craigslist that you have a mortgage for sale ($120K, 12% mortgage secured by 1^st lien on local real estate).  When you get calls, tell them that you sold that mortgage but…you have another.  The “other” one is going to be the one you create to buy the property.

BTW – I’m bringing in a private-lender to my upcoming Financial Mastery workshop in Las Vegas on July 10.  She’ll share with you her techniques on how she acquires money to loan to others.  The best part is…she isn’t selling anything!!! <grin>