How To Find Potential Private Money Investors For Real Estate Investing
Probably the biggest problem most real estate investors face is to identify people with money who can finance their real estate investing deals as private money investors. Once you have identified these private money investors, they can finance your deals whenever you identify them.
We go through how to identify people with money who can finance your deals.
Whether you have great credit or lots of cash for your real estate deals, you will soon find yourself unable to do another deals due to lack of cash. This is true whether you use creative financing or cash for your deals.
You must therefore have cold hard cash when you need it even on short notice. In order to succeed, you must not be limited by the amount of money available for your deals. You therefore need to identify people with money who can become your private money investors.
Follow these steps to attract private money investors for your business.
1) Get a private money lenders website
You must prioritize this at the top of your list. Everyone today will first look you up online. Your website presents you to potential private money investors and tells your story for you. When they visit your website before they call you, they already know how you do business and are probably already warmed up that they are ready to look at the deals you have.
A good private money lender website comes fully loaded and equipped with personalized content that is written to convince potential private money investors that their money is safely invested with you.
A good website is suggested at the foot of this article.
2) Look up mortgage documents
Most court houses now have online access where you can access property information including mortgage information online. If you do not have this access, then you have to go physically to your local county court house and search for these mortgage documents.
The courthouse clerks will prove to be a big help in this process.
You should search for mortgages done by individuals, not companies. Individual lien holders could be people who have sold owner financed properties, or private money investors.
Take the names, addresses and phone numbers of these leads. Send them a letter of introduction explaining what you do and that you are looking for private money investors.
Make sure you provide your website address and full contact information.
Secondly, if you have a phone number, you may need to give them a call after week or so to follow up with your letter. Of course, you will call the people that have not given you a call or signed up from your website.
Some of them will be ready to do business, and will be ready to lend you money whenever you have good deals for them.
Other prospects (owner financing sellers) will be frustrated by the fact that they receive a monthly payment instead of one lump sum for their property. You can flip their note to private money lenders for a few thousand dollars as you help them sell their note.
Others of course will not be interested to talk to you.
This way you combine the power of an informative interactive website with technology and a little research to attract all the money you need for your real estate investing deals.
Learn how you can harness the power of an informative, interactive website as a private money website that helps you attract all the money you need for your real estate investing deals.
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