Private Money Lender

[Maurice Reese]

How do you go about and find private money lender to fund your deals?

[William S]

The quickest and most economical way to find PL's is to ask any contacts or friends if they know anyone with money! Anyone with money in CD's, IRA's, etc. Make sure to give your contact a presentation of your program so that he is sold on what you have to offer first. Then offer him a finders/referral fee for anyone he refers to you that you actually end up working with/getting a loan from.

The less you contact says to a potential referral the better. He just wants to focus on setting up an appointment for you...that's it!

I'm using this method as we speak..I have an appointment this coming Monday and several more on the latter part of next week.

The most important thing to have in place is a good-informative presentation. Not one of those stiff, robotic and very procedural presentations but something that comes off as relaxed but very informative. Don't come off as begging...never..just be yourself, know your program thoroughly ( I recommend recording it on a cd and listening to until you are sick..lol) and make sure you cover the main bases:

1) What you have to offer
2) How they benefit
3) How their money is secured/ collateralized
4) Get a commitment one way or the other so as not to waste time (to get started, refer you to
others who might be interested or simply part and thank them for their time)

Also, make sure before meeting up with referral that you ask if their is a partner (spouse) involved in making any important decisions,,,if they say yes, make sure the spouse is their as well.

Hope this helps.