Best Source Of Money For All Your Deals
If you’ve been in the real estate investing game for longer than 5 minutes you already know that it is a big myth that you don’t need money to buy real estate. You MUST have money. It just doesn’t have to be your money. For that matter, it doesn’t even need to be your credit.
In fact, in the 20 years I’ve been buying and selling real estate I have never used my own money or credit to buy real estate deals. And I have had more money available than I can use!
What’s the secret?
Private lenders – private every day individuals who are not even in the business of making real estate loans. They have their money invested in low yield vehicles and I show them how they can earn double…triple…even quadruple their current interest by making loans secured by real estate.
Here are the big advantages of using private lenders:
- You determine the terms
- You don’t pay points
- No qualification process for loans
- No credit check
- Loans are fast – even as quick as 24 hours
- Unlimited funds
Wait a minute..unlimited funds? Does that mean that we only find the super mega-wealthy that will never run out of funds for our projects?
Absolutely not. In fact, you’re just looking for the average middle American to make loans. It is unlimited because if you need more money to do more deals you simply find more private lenders.
The biggest problem you’ll have with private lenders is keeping their money in play. As soon as you re-pay the loan from the sale of a property, they will be harassing you to borrow their money again.
When was the last time a bank begged you to borrow their money?
Imagine how many more deals you can do a year if you have the money readily available to you. You will have much more confidence when you’re speaking to sellers; you’ll be able to take advantage of deals requiring quick cash closings (think pre-foreclosure); and you’ll be able to buy REO deals from banks with no problem.
If you don’t have a private lender portfolio, then build one now. If you have one, then keep nurturing and growing it so you can maximize the number of deals you do every year.
Adonis Investment Group