Private Money Lenders - The 4 Top Ways to Get Money For Your Real Estate Deals
Getting private money lenders into your real estate investing business is critical to your success as the credit bubble makes getting traditional mortgages very difficult.
Mortgage lenders are now requiring 700+ credit scores and documented sources of income.
This can very hard for most real estate investors.
Hard money lenders are also drying up as the credit bubble continues to take its toll on borrowers.
So how do you get money for real estate deals? The answer is private money lenders.
But how do you get private money lenders? We teach our students how to use simple marketing techniques to attract private lenders.
Once you start to attract private lenders you can set up one-on-one meetings or group meetings where you can lay out the advantages and benefits of investing money with you.
There are many ways you can market to private money lenders but we recommended these 4 strategies as good starting point.
Business Cards You need to have business cards specifically designed for private lenders.
On the back of the card you should have several highlights of your private lending program and the many benefits of investing with you.
You can offer a toll free recorded message or website if they would like more information before actually talking to you.
The advantages of this is many of the tire kickers will weed themselves out without taking up your time and energy.
If you would like additional information on how to make a business card a marketing weapon please go to my author bio for an article title "Learn the 10 Secrets to Make an Ordinary Business Card into a Extraordinary Marketing Machine".
Elevator Speech You never know who you may run into so it important to have a prepared 30 second elevator speech about your private lender program.
As part of this speech you can ask if the person would be interest in learning more about investments that pay 9% to 15% interest and secured by local rental real estate.
Most people will certainly have their interest peaked and will want to learn more.
Flyers I highly recommend you have a simply one page flyer that can be posted on bulletin boards and left in lobbies of 55+ communities or local communities organizations.
The flyer should again provide some simple highlights of your program with an invitation to call or visit a website for additional information.
Referrals One of the essential ways to get private money lenders is through referrals from family, friends or professional contacts.
Be sure to tell everyone that you are a real estate investor looking for people to lend money and you pay 9% to 15% interest.
The more people that know about your private money program the more interested prospects you will have expressing interest.
Mortgage lenders are now requiring 700+ credit scores and documented sources of income.
This can very hard for most real estate investors.
Hard money lenders are also drying up as the credit bubble continues to take its toll on borrowers.
So how do you get money for real estate deals? The answer is private money lenders.
But how do you get private money lenders? We teach our students how to use simple marketing techniques to attract private lenders.
Once you start to attract private lenders you can set up one-on-one meetings or group meetings where you can lay out the advantages and benefits of investing money with you.
There are many ways you can market to private money lenders but we recommended these 4 strategies as good starting point.
Business Cards You need to have business cards specifically designed for private lenders.
On the back of the card you should have several highlights of your private lending program and the many benefits of investing with you.
You can offer a toll free recorded message or website if they would like more information before actually talking to you.
The advantages of this is many of the tire kickers will weed themselves out without taking up your time and energy.
If you would like additional information on how to make a business card a marketing weapon please go to my author bio for an article title "Learn the 10 Secrets to Make an Ordinary Business Card into a Extraordinary Marketing Machine".
Elevator Speech You never know who you may run into so it important to have a prepared 30 second elevator speech about your private lender program.
As part of this speech you can ask if the person would be interest in learning more about investments that pay 9% to 15% interest and secured by local rental real estate.
Most people will certainly have their interest peaked and will want to learn more.
Flyers I highly recommend you have a simply one page flyer that can be posted on bulletin boards and left in lobbies of 55+ communities or local communities organizations.
The flyer should again provide some simple highlights of your program with an invitation to call or visit a website for additional information.
Referrals One of the essential ways to get private money lenders is through referrals from family, friends or professional contacts.
Be sure to tell everyone that you are a real estate investor looking for people to lend money and you pay 9% to 15% interest.
The more people that know about your private money program the more interested prospects you will have expressing interest.