By Simon Marachia
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. This article walks you through how to identify potential private money lenders for your deals.
One of the biggest questions most real estate investors is how they can identify people with money that are looking to invest in real estate. Once you have private money investors identified, your deals will be funded whenever you identify them.
This article walks you through how to identify potential private money lenders for 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 applies whether you do creative financing for your deals or not. Therefore, a reliable source of cold hard cash is a must even on short notice. Money must never be your limiting factor if you are to be successful in real estate investing. It is therefore important to identify potential private money lenders for your deals. Here are the steps you need to follow to attract potential private money investors for your real estate investing business:
1) Get a private money investor website. This must be the first thing on your priority list. Today, everyone will look you up online. Your website presents you to potential private money investors and tells your story for you. By the time you get to talk to them, they are already warmed up ready to do business. A good private money website comes with pre-loaded content personalized for your business to convince potential lenders that they should invest in your deals.
2) Look up mortgage documents. Most court houses now have online access where you can access property information including mortgage information online. If you cannot access them online, you have to visit your local county courthouse to perform a search. The courthouse clerks will prove to be a big help in this process. Look for mortgages done by individuals, not companies. Individual lien holders could be people who have sold owner financed properties, or private money investors. Take their full contact information. The first thing you need to do is send them a letter explaining to them what you do and that you are looking for private money investors for a high return on their investment. 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.
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