Having a conversation with a Hard Money Lender

[Delmas Gibson]

Just curios to find out, how do investors go about the conversation with a Hard money Lender?? 

[Jay Hinrichs]

Originally posted by @Erik W.:

@Delmas Gibson....your post is vague, so Jay gave you a vague response.  

How do you start a conversation with anyone?

"Hi, my name is Delmas, and I have heard you loan money privately to real estate investors, is that correct?"

Then the conversation will flow naturally from there.  Be prepared to discuss you deal, the upside, the downside, the risks and the rewards and your plans for how you can both benefit.  Most likely, once you introduce yourself, the lender will start to "pre-qualify you" based on your tone of voice, your professionalism, your facts, your plan, etc.  These guys are pretty savvy and will know in the first 30-60 seconds if they want to know more about you and your opportunity.  Let them drive the conversation.  Avoid "flowery" language that just fills empty space.

This isn't a social club meeting: you're speaking to a person who is probably running this like a business and has heard from a dozen other folks just like you today.  They only have enough money to back a few of you, so make your time count.  They want to know facts and your personal resume'.  Chit chat time will be reserved for after you pay them back fully, on time for your first deal, and they are pleased enough with your acumen and savvy to want to do more deals with you. 

Think of it like a job interview, but rather than a position, you are interviewing for the use of money.

most reputable lenders these days have on line applications you fill those out first then they call you.. or e mail you..