how networking led me to a million dollar private lender

how networking led me to a million dollar private lender

Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes

I am sure you like most others on this site have been looking for the ever elusive private lender. Here is my story of how I found mine and hopefully it translates and leads others to the same success. I have listened to every episode of the bigger pockets podcast and have heard @Brandon Turner say about a thousand times, tell everyone you meet what you do. One of the reasons behind this is you never know  who is listening and is just waiting to invest with you if only they knew you were a real estate investor. One of my friends is an entrepreneur who has embarked on various different business ventures. While he was not a high net worth individual by any means he had the right mindset to be successful in the real estate world. So I did what any good friend would do I regaled him with the highs and lows of real estate we debated the merits of real estate versus owning other businesses such as restaurants or auto shops etc. This was solely to educate him and hopefully draw him into the investing world, little did I know a close friend of his had always been interested in real estate and he had unbeknownst to me been relaying the info I told him to his friend. Fast forward a couple years and he introduced the two of us and as they say the rest is history. I won't go into the exact details of our partnership, I will however say it was over a 7 figure investment that only came about because I had been talking about my investing to everyone that I met. Telling them the highs and lows and what my current and future business plans looked like. I hope this helps some of the newer investors, the ones who are still attending meetups taking people out to dinner and buying coffee in the end the hard work will pay off. 

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Rental Property Investor · Chattanooga, TN · Member since 2015 · 208 posts · 94 votes
8y

Congrats, @Philip Williams! Thanks for taking the time to share your success - that's a great example networking the right way!

Kudos to you and look forward to following your successes here on BP.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    8y

    congrats.. hard to pull off but very satisfying when U do.

  • Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes
    8y

    Thanks @Jay Hinrichs the most satisfying part I believe is the fact that certainly wasn't my purpose at all in talking to that individual. It shows how partners or lenders comes from places that you least expect. 

  • Dana WhickerPro Member
    Investor · Fernandina Beach, FL · Member since 2014 · 557 posts · 374 votes
    8y

    @Philip Williams Nice Work Sir!

  • Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes
    8y

    @Dana Whicker Thanks hopefully i'll have more of these stories to tell lol!

  • Member since 2018 · 6 posts · 4 votes
    8y

    WOW!! I have to say just one word... "D E S T I N Y." Placing one foot forward at a time only able to see so.. far with not much light, but with a whole lot of "F A I T H!!"  LOVE YOUR STORY!! PERSEVERANCE IS KEY AND I INTEND TO PERSEVERE AGAINST ALL THE ODDS!! MY CHALLENGE TO ALL.....  ARE YOU???

  • Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes
    8y

    Well thank you @Jennifer J Bennett perseverance definitely is key!

  • Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes
    8y

    @Account Closed so far we have bought a 12 unit and 3 houses at auction. We are going to brrrr 2 of them and flip one of them. We buy a lot of auction properties and depending on the price location etc determines if we flip or hold them as rentals. 

  • San Antonio, TX · Member since 2017 · 179 posts · 71 votes
    8y
    Phillip, Great work! What are your long term goals in real estate?
  • Kerry Noble JrPro Member
    Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
    8y

    good job! congratulations

  • Rental Property Investor · Chattanooga, TN · Member since 2015 · 208 posts · 94 votes
    8y

    Congrats, @Philip Williams! Thanks for taking the time to share your success - that's a great example networking the right way!

    Kudos to you and look forward to following your successes here on BP.

  • Flipper/Rehabber · Huntington Beach, CA · Member since 2017 · 42 posts · 13 votes
    8y

    great story. thanks for posting. 

  • Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes
    8y
    @Kenneth Williams I try not to set super long term goals, I set yearly goals. It seems too easy to set sky high goals with no plan of how to attain said goal. That being said I had a goal of 10k in net income per month. Having already passed that my next will be 25k a month.
  • Rental Property Investor · Rockford, IL · Member since 2014 · 385 posts · 702 votes
    8y
    Also I should mention through rentals, while I do flip houses they are not a part of my long term goals. They are too much like real work and simply being used to help me acquire more rentals in a shorter amount of time.
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