Archive for Private mortgage lending
Who Else Wants a New Approach to Getting Private Money?
Posted by: | CommentsReady. Fire. Aim.
Huh? Is that any way to approach business? Isn’t it careless?
To me there’s no better way to profit in this market than using private money to steal real estate bargains. But, there are some different ways to approach it. There’s a more profitable way and a less profitable way. It’s up to you to decide.
The best way to do it is to: #1 get the private money and then go after the deals. However, most people do the exact opposite. Why?
There’s no law saying you have to have a deal before you get private money. But, I think you’re going to be much more successful when you go out hunting if you have dry powder and plenty of ammo.
What it comes down to are two vastly different schools of thought when it comes to private money:
1. Get the deal, then get the private money
2. Get the private money, then get the deal
Seems pretty simple and not much different. After all, you are in fact getting a private money loan or private funding, right? So half the battle is already won. But…
There are huge differences – both in approach and results (remember, results = profit?).
Let me explain…
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