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To find private lenders, you've got to figure out where and how to meet potential private lenders, and you've got to build relationships with them. There are multi-day courses on this topic. I'll just give you a couple of thoughts, but this is very high-level: - Create your Real Estate Success Plan, and make sure it includes some low-risk, high-reward events early on. I think this can be best achieved via Wholesaling. With every deal you do, your success gets stronger, and your Real Estate Success Story becomes a more powerful tool you can use to attract private lenders.
- If you love Real Estate, let that love flow out from you to everyone around you all the time. When others hear how excited you are to be helping people and making good money doing it, you'll find people who would like to be a part of that.
- One approach is to say something like the following to whoever you meet. "If you know someone who's unhappy with the interest they're making on their savings or investments, ask them to give me a call. I'm blowing the doors off, and I could use more partners."
- Invest time in building and/or strengthening relationships with those who express interest in investing in the Real Estate deals you find.
- Take "Before & After" photos and create an overall plan that includes a budget (projected & actual), rehab schedule, etc. memorializing every deal you do. From that, you can create a presentation highlighting your track record of successes. When prospective private lenders see that presentation, they should be very impressed.
Anyway... that's some stuff just off the top of my head. |
