Seeking Private Money: Here’s Who To Borrow Private Money From
Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win, close more deals, accelerate your income, accelerate your cash flow. So this is tip number 32. We’re going to talk about borrowing in this series. So this one’s going to be, Borrow private money from folks who are not in the business. Let me tell you what that is. So basically a lot of folks that are close to real estate, they also understand money and they understand interest rates and they understand the power of that and they understand just how much profit you can make by them, allowing you to borrow their money. And so typically when you’re close to real estate, you’re actually paying more for the money if you’re borrowing it from another real estate investor or if you’re borrowing from a private money lender that’s affiliated or associated to real estate.
Now if you think about it this way, there’s lots of people in your cell phone. And you think about all the different contacts that you’ve got there. Many of them have money and you don’t even know it. Why? Because you’ve never discussed it with them. You’ve never discussed if they have an IRA or a 401k or personal funds that are uninvested. Imagine that you could tap into that money. Now, imagine that you could borrow money at say 4% interest and no points and no closing costs. Wouldn’t that be phenomenal? Well, that’s exactly what I teach you how to do. I’ve got a system called borrowing. You can find out more about that at StreetSmartInvestor.com and then click on tools, and click on borrowing. And that includes a script of what to say and how to say it. But it’s just amazing that there’s so much money available out there.
And when you tap into folks that are not close to the financial world, it’s amazing what they will accept. Why? Because they’re currently earning zero to zero to 1% on their money. So imagine that they could put their money to work using safe, secure real estate at only 4%. Well, 4% when you compare that to CD’s, when you compare that to what banks pay, when the money’s just sitting there in the bank, that is a blessing. And you can bless a lot of people in your world simply by telling them who you are, what you do, and what you, how you can help them with their money.
Well, I hope you have enjoyed this. I hope this is valuable too. It certainly has been valuable to me. I’ve never been to the bank. I’ve never qualified for a loan on a single family or small multifamily property. So it’s really powerful when you learn this. I’d love to share more of my profitable tips with you and how can you get more? Well, simply you tap into liking this, or loving this, or sharing this with your friends and family. I would really appreciate that when you do that. Thank you. And I’ll see you soon. Yeah, baby!
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