Do you have enough private money lined up? How much is enough? Well, I recommend a new investor have at least $500,000 and a seasoned investor have at least $2 million. This will give you all the money you need to get every deal you want and you'll never miss out on an opportunity.
I have 2 deals I'm buying next week. One is at 1467 Sunny Acres for 53k and the other is 2219 7th street for 55k. Both are REO's. Both need 20-30k in renovations and both need private money to fund the deals. Both are ripe with $40,000 profits Why do I need private money? Same reason as you. Because I don't want to use my own cash.
Even if you don't have a deal yet, private lenders are looking for you. They want to meet you and understand your business, so that they can potentially invest with you.
It's really simple. Private lenders loan money to investors because they like the returns on investment.
Think about it.
Would you rather make less than 1% on a CD at the bank or make 6%-12% from a real estate investor on a piece of property that is completely secured?
I currently pay my investors 10% interest OR 20% of the deal profit WHICHEVER IS GREATER
They love it. I am a great investment for these guys. You are a great investment.
So, why do you not have private lenders fighting over your business yet?
Go watch this video to find out how to change that
Private lenders are looking for a way to be matched up with people just like you. They need you.
Private lenders do not care about anything but the deal.
They DON'T care about:
• Your credit score
• Your credit history
• Your assets
• Your income
• Your kids names
• Your hair color (see Nathan Jurewicz)
You get the idea
The DO care about:
• Your deal and the "ROI": return on investment they'll get.
To match your deal with their money, you need to go watch the video that I've been telling you about.
The best private money video I've seen in a while and its from a coaching student of mine.
P.S. Don't let lack of money ever hold you back in this business. There is plenty of it out there. You just have to have the right tools and knowledge to get your share of it.