How to advertise myself as a private lender?

Question

How can I advertise myself as a private money lender in my area?

Michael Kinsella · Answer

I like @Michael Anderson's answer.

Two big advantages you can offer to local investors as a private lender are 1) reliability of execution and 2) speed.

Meeting local investors at REIA events will create greater trust than simply advertising your services online.

People are rightfully skeptical of private lenders, so meeting real estate investors in person and letting them know you are local and actively lending is a great first step to gaining trust.

Once you execute well on several deals, word-of-mouth, the most powerful form of marketing (and the only one that compounds) can provide you a substantial tailwind.

Best,

Michael

Scott Trench · Answer

Here are some tips:

First, the forums must remain free of self-promotion, so you can't advertise yourself. You can, however, answer questions that are relevant to your profession. Consider setting up some keyword alerts. Perhaps "private money" and "Florida". If I were in your shoes, I'd want to be "instantly" alerted to all discussions that met my specific profession, so that I could be the first to respond to questions. Then, I'd put in a really thoughtful and honestly helpful answer to whatever is being asked.

Second, I'd set up my profile and signature to make sure that they showed off what I do. I'd make sure my signature looked great and showed off my business. I'd also update your profile to add the lending business you have, so that it shows up next to your name on forum posts - notice that @Ahmed Porter has "Contractor" next to his name, and besides his location, in the post above mine.

Third, I'd start answering questions and fiddling with your keywords and process. You want to be responding helpfully and quickly to relevant discussions to your business, and you might have to go through some trial and error with how you set up your keywords and notifications to get that right. "Lender" and "Florida" might be so common it will spam your inbox. But, "Hard Money" and "New Port Richey" might only be posted about once per month, and you want to incorporate other local areas.

Last, you might consider a Pro or Premium membership. They are designed for folks who want to take the practice of getting business through the forums and engaging with investors seriously. They are not free, but if you are able to generate leads, they synergize really well with thoughtful value-add in these forums.

Note that forum participation is a slow build. It may take a few dozen, or even a few hundred, posts and genuine value add to start the snowball of credibility building in your market on this forum. But, it's low cost and tremendously powerful.

If you'd like to pay us to advertise, you can also always talk to Account Closed on our team, who can help you with other ways to supplement these efforts.

Michael Anderson · Answer

Go to local REIA's. You will quickly find out who the serious flippers and buy and hold guys are especially once it slips out that you have some money to lend out. You can also build relationships this way and get a feel for who is a trustworthy candidate to be trusted with your money.

Dwayne Byrd · Answer

You have had a few other great answers. You could also reach out to real estate agents in listings that look like they have been flipped. Experienced agents with a good amount of deals will have usually always worked with someone in that space. The other place I would look to is for a mortgage broker / loan officer. They would also frequently come across that need. I own a real estate brokerage and now a mortgage brokerage and we have flipped 10 or so homes and are building new construction. This type of product could potentially be a great option for someone like us that is multiple spaces, as well as being able to offer it to clients / associates that could use it. Inbox me, I would love to speak with you further.

Chris Seveney · Answer

@Amanda Durso

Join the American Association of private lenders

Josh Green · Answer

@Amanda Durso

My brokerage has a lending department and is looking to onboard more private lenders. DM for info!

Scott Mac · Answer

Maybe make some videos (unless it's regulated not to--you don't want to end up in the Pokey) and have a memorable delivery style.

This is not real estate specific just just money in general, but it gets the point across.

Borrow from Mr. Shades in New Jersey, https://www.youtube.com/watch?v=gS27G_Cj5qQ

Ahmed Porter · Answer

i think you can do it on this site and would also go to the reia in your area that is wer people want your service agents and people that are flipping. face book market place craglist indeed, linkden to name a few.post in the group read and see who needs funding in your feed etc

How to advertise myself as a private lender?

Most Popular Reply