REI 011 » The BIG Problem With Finding Private Money Investors Pt 2

finding private money investorsIn this episode we’ll continue unraveling the biggest problems you’ll likely encounter when finding private money investors for your real estate deals.

(Side Note: This is part 2 of my candid conversation with my good buddy and personal PM sherpa Patrick Riddle. You caught part 1 already, right? If not, what the heck are ya thinking, man?!?!  Go expand your mind on part 1 first…)

Now you may recall last time we discussed how the process most folks use when trying to get private money is sorely broken, so it’s no wonder so many of us are frustrated by getting “no” after “no”.

We also discussed how to fix these problems, how to posture yourself to win, and what you should and should not say to potential PM folks.

We also cracked open Patrick’s “Diagnosis Technique” and a proven, 3-step process for seducing private lenders that actually works in the real world.

Awesome stuff for anyone looking to hone your private money getting skillz.

So in Part 2 We’ll Discuss

  • Fear Slaying: The 3 biggest private money fears that are holding most people hostage, and how to slay them for good
  • Obstacle Busting: How to easily handle the most common objections you’ll encounter from potential private money lenders
  • Staying Power: How to keep them from backing out once they’re on your team
  • Shearing Sheepishness: Overcoming that uneasy “I don’t know enough yet to be worth you money, and I’m afraid you’re gonna find me out” feeling
  • The Law of Averages: Private money getting style
  • Beware the “Shelf Life”: Understanding the typical “shelf life” for your committed funds
  • And a bunch more…

So again, if finding private money investors for your deals is a hot-button for you at all, then you’re going to LOVE these two episodes.  Start with part 1, then enjoy part 2…

Finding Private Money Investors Pt 2 – Listen Now

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A Little About Patrick

Private Money for Real EstatePatrick hails from the ridiculously gorgeous Charleston, SC. He’s been investing in real estate ever since he got the bug in college… and much to his parents dismay, dropped out of college to dive full-time into real estate at the tender age of 22.

After a few rough transactions and some invaluable lessons in the school of hard knocks, Patrick became a MASTER at getting deals done more quickly, with higher profit, less risk, without having to go to banks or use our own cash… that key was finding private money investors, and using their funds to close on his deals.

Fast forward to today, he’s closed over 130 real estate deals ranging from foreclosures to small multi-family buy and hold deals…short sales, lease options, mobile homes, etc. (i.e. He’s done a lot) and leveraged over $6mm in private cash into those transactions.

Patrick also runs the SECOND best real estate investing blog on the interwebs at MustKnowInvesting.com, and is also the co-author of PrivateFundingOnDemand.com

Oh, and though he looks only 17, he’s actually 32. 😉

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  1. Finding Private Money Investors | REIology - July 6, 2012

    […] Then tune in to “part 2″ here… Last updated by JP Moses. Did you enjoy this podcast? […]