Using Private Lenders

Private mortgage money is a great source of financing. The availability can be tough to arrange BUT once you have your Private Investors in tow, your deals can rack up quickly. Cowgill is from a town a little North of me and I have seen him in person once a long time ago. He has a lot of smart things to say. But remember, there are specific things you must do in your state once you take private money so your arrangement is not deemed a security. That doesn't seem important when everything goes right; but if things go wrong you will wish you covered your butt. I can't tell you what those things are to make you "legal" as I don't want to be issuing legal advice, but please check in to it.

Bill,

Thanks for your input on this topic. We are looking forward to Cowgill's seminar tomorrow and he will have an attorney(s) present for this seminar. We would not even think about doing any transaction without proper legal advice. As you mentioned, "cover your butt" for sure! Thanks again.

if you can find it! There are many other people out there that offer courses on getting private money lenders, I have a program for one of them myself, if you want to PM me I can tell you more. Also, please check out my www.InvestmentsBackedByRealEstate.com site, as it has my report in it that explains everything to do for your private lenders. There are also other threads here (check for one by cfuller entitled 'use private financing' (if memory serves me well) that go into more detail about private lending.

I have several prospects, but its hard for me to present when I always have 4 kids in tow. I'm working on trying to figure out how to do a live webinar. (Yet more computer skills I need to learn. )

But, yes, private money is a super valuable tool. You may want to use a hard money lender first because most of them are REI themselves and can really guide you and make sure you have a good deal if you are new; otherwise, I'd choose 'relationship' type private lending if at all possible because it is much cheaper!

Best to you!

It is CERTAIN we will SUCCEED!

PS: I did not use Alan COwgill, but I have found many of his programs on Ebay much cheaper than he sells them for, haven't purchased them though. Just sayin...

Tammy,

Thank you for your info and comments. We attended the seminar yesterday and it was so informational. We were able to ask many questions. Alan Cowgill gives you the blueprint on how to find private lenders just as Dean Graziosi has given us a blueprint on how to find killer real estate deals. With the combination of knowledge from these two great men......what a POWERFUL TOOL to say the least. We have been actively looking at properties every week with our real estate agent. Just looked at three properties earlier today and one out of three looks like a good potential flip property..need to work out the numbers of course and check comps etc. The best part of all we have lined one private lender this past week and now we will know how to get more thanks to Alan Cowgill. Thanks again!

That was QUICK! Good for you! I still don't have a real relationship private lender. I have a program that gives the whole blueprint as well. But, presenting my company with 4 kids to a potential lender just hasn't worked out yet, even on the phone. These are my real struggles I go through. I'm trying to get my presentation going online so I can do online webinars. It is probably the only thing that will work for me. I have been talking to everyone I know about it, but haven't had any bites yet. Wish I had some family that would help. I know Alan COwgill's first private lender was his mom. I've watched many of his videos, I just happened to like the other guys better! It is POWERFUL info, and once harnessed, and having a few of them, your potential in REI is limitless!

Dan and Anna,

Well I have to say that I have had a good start I believe in my REI journey and that is to say that I have 3 properties in 4 months and getting close to 4 and 5. I did it all with private money and while still private in a sense - lease options. I have used private individuals who happen to be family to get going. I am excited to see where the next year or so goes as I am hoping to really ramp up my efforts. But it has worked for me thus far. That being said I have an uncle that I proposed some deals to and he chose not to get involved at this point but said he has some people come to him from time to time and ask about investment opportunities, when he tells them about real estate, they tend to run from it - negative media I suppose - so to say that some people are open to it and some are opposed, but you can find success. Looks like you have already made some in roads on that.

So congrats, and I just wanted to share my short experience with you, not that I have any real advice on the subject, but maybe it is some encouragement that you can use to keep looking for more private sources as you go along.

Best wishes,

Jeff (FOMAC)

One deal at a time is all it takes. You are on your way.

Thanks so much for the encouragement. We take real estate day by day and everyday we are doing something to get closer to our goals. Thanks again and Happy Investing!

Dan and Anna,

We are fellow D.G. alumni, too. I wanna research about A. Cowgill to see more about the benefits we can glean from him concerning private lenders.

We have yet to do our fist deal, but like you said getting closer and closer each day. We are seeking funding and everyday searching for those deals. I'm learning so much and with my business partner's knowledge and skills, I'm sure we can be a formidable force.

There is so much to learn and so much to do, even for 2 people. But, since we have been blessed to be able to dedicate full-time to this venture, we hope to make the best use of that before having to go out and get "real jobs". That, of course, is another story and mirrors lots of currently unemployed folks' situation.

Keep up the great work everyone and many blessings in finding that cash.
(FOMAC, TrustPoint and Zion, too)

John and Connie
Cedar Creek Enterprises
Camino, Ca

Hi Zion,

Here are some ideas tat may help you with your online webinar needs.

As long as you have a decent computer with diskspace, a webcam and a mic, recording your webinars can be an easy option (audio or video, though folks enjoy video more). You could even add documentation or graphics to your presentation, if you are familiar with and have software, like MS Office PowerPoint.

Then if you have a website or domain with the space you can upload there and post the link on other websites directing them to your webinar. You could also get a Youtube account and upload the webinars there. There is a company (don't know the fees) that actually will host real-time webinars, too. (name escapes me, but Dean's success academy used them for online webinar training)

I'm sure there are other ways to do it and maybe $$ opportunities if they're really great webinars to have people register and you give them tons of info and if they want to know more, charge them for a video series or whatever. I like the free information idea, myself. I wouldn't feel right charging people, but that's just me. However time is money and knowledge is expensive. Wisdom, the application of knowledge is power, and definitely worth the money.

Hope this helps,
John