Private Lenders

[Steve West]

I'm currently working to build a list of lenders. It has been easy finding hard money lenders, but obviously at higher interest rates (plus points). I've heard that private money lenders (individuals) offer better terms. I'm interested to know how to find these individuals. I'm looking for lenders in the Corpus Christi, TX area since that is where I will conduct business. Any ideas/suggestions are appreciated.

Thanks.

[Kevin Yeats]

Steve,

A couple tips.

Don't sound desperate ... no matter what.

Try this as a conversation starter ...

"I'm expanding my business and I need your help. Who do you know who has invested in ____________ (investment real estate) in the past?"

If you get a name, follow up with "How do you know Joe/Jane Investor" and "What is the best way for you to introduce me to Joe/Jane Investor?"

Be sure to ask it as "Who do you know ..." (requiring a specific answer) rather than "Do you know ..." (which is a yes/no question).

Good luck.