Are you wholesaling houses because YOU don’t have the money needed to actually buy the flips or rentals?
Well, in this video, I will show you how to find the private money lenders that have helped us flip over 30 properties, acquired 9 rentals, and build 4 houses without using a DIME of our own money.
BUT… simply finding them isn’t enough. There’s a way to make sure you can count on them anytime you need the money.
I always hear the same thing from everyone who is starting in real estate.
“I’m going to wholesale until I can make enough money to buy some flips/rentals”
Obviously, this means you’re very new at real estate investing. So now you believe that until you have made “enough money” with wholesaling, you won’t be able to start flipping or acquiring rentals.
The issue here is that you will either get burned out before that happens, or you end up becoming a shitty wholesaler out just for the money.
Neither one is good.
There are 3 main ingredients to getting the right private money lender.
Without these three, you will end up overpaying for your private money every time!
WARNING: 3 People You don’t want to borrow money from
The first two are friends and family! I know a lot of these gurus out there always say to start there but don’t.
Especially when you have never done this before, the last thing you want is to lose their money or, even worse, have them as your partner.
Also, from lists that say they have private money lenders.
So, how is it that you find these private money lenders for your real estate deals?
There Are 2 Ways You Can Do This.
#1- From your buyer's list!
In case you have NOT seen any of the videos in this series, I talk about how important credibility is.
As a wholesaler, you must focus on building your credibility and reputation.
Without credibility and reputation, it becomes nearly impossible to ever build ANYTHING in this business.
The reason you want to build the RIGHT buyers list is, most of the time, most buyers are NOT full-time real estate investors.
Especially if they are your buy and hold investors.
So, once you have shown them, through great deals, that you understand what a deal looks like, they will be much more inclined to lend to you when you decide to start flipping or acquiring rentals yourself.
#2- From your partners
We are always talking about PARTNER, PARTNER, PARTNER.
Do you want experience and credibility? Partner with the people that already have them.
This will rub off on you and your reputation.
But don’t partner with just anyone.
Partner with the investors that are doing what you want and actually use private money for their deals.
Through these partnerships, you will find out who these people's private money lenders are.
At the end, I'll show you how to have these private money lenders coming to YOU!
In Season 2 Ep. 1 of Coffee With The Jo(h)ns, we'll cover Vaccine Update, What opportunities the Biden presidency will create for investing, Crime Is Allowed In Seattle, TX Gov. says companies moving their HQ's has turned into a tidal wave and much more!
🗓 EPISODE SUMMARY 🗓
✅ New more transmissible COVID strain & Early study suggests Pfizer vaccine effective against coronavirus mutations
✅ New York Democrat's bill allowing the governor to detain individuals dangerous to 'public health' sparks backlash
✅ Californians flee the state in numbers so great it is projected to lose House seat and electoral vote for the first time
✅ Texas Market Update/An Investors Journey comments regarding their state market update for January 2021
✅ The New Untouchables
✅ Mark Cuban & Kevin O'Leary supports 'monthly direct stimulus' to Americans in need
✅ Elon Musk is now the richest person in the world, passing Jeff Bezos
✅ Tesla and Bitcoin Biggest winner
✅ Apple Vs Tesla - Apple to come out with self-driving car
✅ Amazon hires lobbyist brother of Biden White House counselor
✅ Facebook will block Trump from posting at least for the remainder of his term
✅ Ground News App that Jon mentioned - Right Wing & Left Wing news
✅ Mall of America is no longer delinquent on $1.4 billion mortgage
✅ Texas governor says companies moving HQs to the state has turned into a 'tidal wave
✅ What Georgia outcome means for Biden’s housing agenda