How To Find Private Money Lenders For Your Real Estate Investing Deals: A Step-by-Step Automated Online System That Builds A Huge List Of Ready To Go Wealthy Investors by Crump Joe

Author:Crump, Joe [Crump, Joe]
Language: eng
Format: epub
Publisher: Crump Publishing Inc.
Published: 2015-02-25T16:00:00+00:00

Chapter

6

How to Avoid Potential Mine Fields in Raising Private Money

Where’s the “Rich Guy?”

By this point in your business, you have been

Making money

Building a list

Building your credibility

Making connections with wealthy investors who now trust you

So we got this far – are you disappointed that I am taking you this route to private money? Do you understand why I’m suggesting you do it this way? I know it seems like it takes longer doing it this way and that all you wanted when you bought this book was to find out how to find a rich guy to give you a pile of money to invest in deals that you “can find all day long.” Am I right?

Do you begin to understand why that “rich guy” doesn’t really exist – or at least it’s unlikely that he does. There are lots of rich guys out there – they just aren’t ready to work with you.

But you may say to me, “I’ve been flipping deals for 30 years. I’ve done hundreds of rehabs and I know how to make money. I can make these guys lots of money.”

If that’s the case, and you have a lot of experience, you already have rich guys giving you money. There is money out there and it’s not that hard to find if you’re experienced and have a track record. Most of you who are reading this book are doing so because you don’t have a track record, you don’t have money of your own to invest and you think you could do it if someone just gave you a chance.

If you have a track record, maybe, you’re reading this book so that you can find some other ways to track these investor types down. Hopefully, this method of building a list will make sense to you.

So with that said, let’s move on to the problems with raising money. Now you can begin thinking about how you will begin to bring these investors on board as your private money investors. As you will find later, there are a number of ways you can structure deals by bringing in private money.

But first things first. Dealing with private money lenders is not without its pitfalls. In fact, I often refer to them as minefields. This hasn’t always been the case. There was a time when working with an individual who was bringing money to the deal was fairly simple. That’s not quite as true in this day and age. The main problem is some new legislation known as the Dodd-Frank Act.

The Dodd-Frank Act

I’m no attorney – I don’t even play one on TV – so don’t take this as legal advice. But with twenty-five years of experience as an investor, seeing everything, good and bad, under the sun, here is my take on the Dodd-Frank Act.

The Dodd-Frank Act is almost a thousand pages long. The full implications of it will not be fully known for years to come as legal challenges to it arise over time.

Here is an interesting

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.