June 17, 2014 Josh Cantwell (0) What’s the first rule when you learn how to make money in real estate? Fund your deals the smart way. When you look at the mechanics of a deal, the profit potential, and the availability of a systematic approach you can use over and over, it’s no wonder so many people want to learn how to make money in real estate. It’s never been easier to get started – even if you don’t have a hefty stash of cash or sterling credit. There are private investors out there who are looking for alternative ways to invest their money. Those are the people you need to connect with – that’s no secret. Of course, even knowing that, you’re probably asking yourself how you do that. First all good plans need to be written down. Put down on paper what you have to offer a potential investor. Let them know you have a solid marketing plan, you have established a partnership with a licensed contractor, and you have the support network to ensure that everything is covered. Offer competitive interest rates – either simple interest paid out or a percentage share of the net profits if you sell it the home at the asking price. An investor may be closer than you think. In fact, they may even be in your own family. You’ve probably heard the familiar warning of don’t lend money to friends or family – and usually, it’s the best policy. However, this isn’t the same as standing on the porch asking to borrow a Benjamin. This is a professional partnership complete with business plan and promissory note. Other options are real estate investing groups, clubs and associations where you can find private investors. You can also check your local Chamber of Commerce. Joining these clubs will also expand your professional network and exposure. You want to know how to make money in real estate? Well you can talk about and daydream about it but to get it done you need to get out there and make it happen. Are you tuning in to our weekly podcast on how to make money in real estate? That’s just one way you can get the training and information you need to get started. In fact, if you just listened to one episode a day, imagine how much you could build your knowledge base. Challenge accepted?