Any one know any good list brokers that have good rates?
I am looking for lists for Individuals with 401k’s, IRA, high net worth etc. for my private lending campaign.
Any assistance would be greatly appreciated. Thanks
I’ve always used InfoUSA for my lists, but I can’t say that they are cheaper than anyone else.
Having said that, and I know this is not related to your question, but I would be very, very careful about mailing out information to HNW individuals when it comes to investments, unless, of course, you are fully registered as may be necessary or have otherwise consulted a securities lawyer.
I found this out the hard way when in my mis-spent youth I did a mailing to HNW individuals, and one of the recipients decided to see if I had all of my ducks in a row. Of course, being 20 years old and of the “ask for forgiveness instead of permission” mentality, I did not even know that such registrations or credentials even existed.
Fast forward to the certified letter from the Attorney General requesting every document under the sun, none of which I had, and you can see that I made a stupid move. This took a considerable effort on my part to get the AG comfortable with notion that no money had been taken or lost, and all they really had on their hands was an overzealous kid with more motivation than sense.
The point, however, is the same. People with money will check you out. All it takes is one. And if you are offering to take their money to use for your own investments or the investments of others (as a broker) then you are almost certainly offering a “security” in the SEC sense of the word. There are obviously ways around some of these rules, but you need to know what they are. I can assure you that blindly mailing to a list is not an acceptable workaround.
I know that you probably see ads in the paper where people are offering to borrow money from HNWs all the time, and the reality is that these people are probably breaking the law.
Oh, and even if you don’t get in trouble on the marketing side, if and when one of your deals go bad and someone wants their money back–yup, you guessed it–they will hire a lawyer to determine that you have perpetrated a securities fraud, complete with full repayment sought and triple damages.
My suggestion is that you build your private money network organically and slowly. If you find good deals, the money will come.
Having said all of that, if you’ve already thought through all of these things, congratulations…and ignore me.
Good points to consider. Your typical HNW individual is a lot more educated about the ways of the world, it makes sense that they would be more cautious and apt to check you out. After all in most cases its that brain that lined their pockets, not a lucky lotto ticket.