Real Estate Investors: the 11 Top Ways to Find Private Lenders
By Mike Lautensack
February 16, 2009
I a sure you are aware the mortgage market in this country has collapsed. I do not mean "it is slow" or "down slightly", I mean it has COLLAPSED. It is almost impossible for a home owner to get a mortgage and down right impossible for real estate investors to get traditional mortgages.
The solution for the next couple of years will be private lenders. But how does a real estate investor find private lenders. Well, finding a private lender is not nearly as difficult as people think. Here are the top 11 ways to find potential lenders for your real estate investing business.
1. Elevator Speech: Prepare a "60 second" elevator speech and network with everyone you know including friends, family and business associates. Spread the word you are looking for investors.
2. Real Estate Investment Clubs: Join your local REI group and network and spread the word you are a real estate investor and looking for private lenders to invest in your deals.
3. Join professional networking groups: You can join networking groups like BNI and be sure to join and deliver your "60 second" elevator speech at opportunity.
4. Postcards: You can purchase lists of high net worth individuals and send a postcard inviting them to call you to get free information form you or attend an informational seminar about your real estate investing business and private lending.
5. Letters: Send letters to a high net worth list as above or send it to people that have already called or emailed you from your postcards.
6. Small Local Newspaper Ads: You can place ads in small newspapers offering the reader to attend an educational seminar or request a free report.
7. Flyers: Post flyers at senior centers and areas where high net worth people attend and traffic.
8. Speeches and Presentations: Offer to give a 30 to 60 minute educational presentation about real estate investing and private lender.
9. Senior Center Newsletters or Newspapers: Advertising in senior center newsletters, newspapers or even bulletin boards can be a productive way to get potential lenders. Again, be sure to offer free information or invite people to a seminar and provided good information.
10. Law Journals: Most counties and large cities have weekly or monthly journals for the local lawyers. You may want to consider advertising in your county's journal offering to help the attorney with high net worth clients and possible better returns than they are currently getting on CD's or money markets.
11. Internet: You can spread the word through social networking sites like Twitter or Facebook. However, I strongly urge you to simple offer to provided educational information and do NOT make an offer to borrow money through internet sources. Advertising directly through the internet will attract attention form your state SEC department and I assure you that this is not the attention you want to attract.
12. Bonus Tip: Talk, Talk and More Talk: Talk to everyone and spread the word about what you do and what services you provided.
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