So if this is a forum to help people find hard money lenders and bring people together…why does it appear no one seems very interested in what others ask??
I see many posts in here where some are asking to get loans and looking for information on how and what to do to obtain them, but no one seems to respond with how…there are some who respond…but don’t seem to help guide at all…so where is one to learn??
How do you go about working with someone??? Just seems to be everyone asking for help…but no one wanting too!!
Welcome to the REI Club. The reason that you do not see the trading of contact info or advertisements/offers is that it violates the Forum rules. The Forums are for sharing of experience not advertising.
Most of the direct response and contacting is done through the PM system.
If you have questions, please feel free to post them in accordance with the rules and I am sure that you will obtain whatever information it is is that you seek.
Again welcome and we look forward to your involvement.
Ok, maybe I stated this as I am looking for a number…sorry! It wasn’t meant to be an ad share or anything…it’s a how thing…lol
I’m wondering…how is one to “present” and find when looking for hard money lenders…reading through all of this and searching through the side peeps it is CONFUSING! to say the least!
SO how is one to find someone interested and willing to give you a chance…and how should one present the offer to be heard??
Is that better?? I’m not looking for a name or ad…I’m looking for how to go about this process!
First, this will sound generic, but you just ask. You’ll find people who are interested by asking. There are not that many private individuals or hard money lenders who run around screaming I have money. This is very much a relationship game. Even though I’m pretty new to REIClub.com, I’ve been in the RE game for about 4 years. I’ve listened to countless tele-seminars and webinars all claiming to have the holy grail, but it’s all about asking. Ask and you shall receive (it’s not really that easy - but if you ask enough…). And while you’re asking, ask them what they consider to be a good rate of return. If you walk up to someone and proclaim that you pay 15%, you very well may scare them away. They may assume that an interest rate that high is extremely risky. In todays economy, fear is everywhere. So, make sure you ask them what they want and need.
Second, your very smart to ask what you should present. Walking up to someone with a deal and saying generic information and using words like “I think” will not get you money easily. You need to have realistic numbers. Most importantly you need to have a plan. If your new, you need a mentor or a partner to add credibility to what your proposing. If you’re not new, then use your successes to demonstrate you know what your doing. If it’s a good deal, the money will come. Always remember that the person giving you the money is more concerned with getting their money back than they are with how much you’ll pay them. The plan will show them both. Use you plan to show them what you are doing to protect them. I know I said this before, but it’s all about them. Make the conversation come across that way.
One other thought. Everything in life is sales. I repeat EVERYTHING in life is sales. Most people think of sales as pitching a product or service. And, you are. The truth is that every time you open your mouth, your selling me what you think and believe. You need to make sure that you sell me on what you’re going to do for me - Do not tell what you’re going to do for you. I would spend some time learning some sales techniques. It will help you with both asking and proposing. They are both very similar and once you build a relationship with someone, it will probably be the same conversation. Also remember… Sales is not always just sales. More often than not a good sales man gets you to buy by asking you what you want and then showing it to you. If I have what you want for a fair price, you’ll just buy it from from. It’s called soft selling. It’s a fantastic sales technique when raising money.
I’d be happy to elaborate. My conclusions come from life experience and from different training I’ve had over the years. Which part do want more info on?
If you want hard money first you must find a property worth something.
Here is the risk: Put a contract in the property, determine repair cost,
resale value.
Then seek out a investment club in your area, try to assign the contract for $5000 or so do that acouple
of times and you will have enough to get started.
You may develope a relationship with a hardcore investor and bam,
there you go.
Find a property put a contract on it determine cost and profit,
and ask for a partner take 20% of the profit and they may put up the money.
Find a tore up property locate the owner, offer to fix it up if they will agree
in writing to split the profits.
Hard money is just that hard to get, you must join investment clubs,
talk to your doctor, but make sure you tie up the property or you will
just be bird dogging for free.
