I have started a mastermind group on FaceBook that is concentrating on all things Private Money and Creative Financing related. I would love some of you more experienced investors to help share your knowlege, and I would love to have you not so experienced investors to share your questions. I intend for this group, not to be the biggest group on FB but the richest!! www.facebook.com/home.php#/group.php?gid=63490742212&ref=mf
Dave
The Private Money Guy
www.privatemoney4all.com
I’m actually gonna give you a nugget or 2 you can use to find some hard money, private money and brokers that specialize in private money.
This is not a generic go check with family and friends for money, advice. (Though of course you can try)
(Ok fine this is my version of that generic tip)
Join your local chamber of commerce. One of the benefits of joining is that you get a membership book which will list all your fellow members contact numbers and contact person. There is your prospect list, along with a number of events put on by the chamber in which you can network with them.
The next tool is to go to your state dept of business, division of corporations. Do a business name search.
Look up private lending, private lender, private money, hard money, etc.
Here is an example of a quick name search I did in the Fl division of business website:
Corporate Name Document Number Status
PRIVATE LENDER INC. P02000091676 INACT
PRIVATE LENDER NETWORK, LLC L06000061304 ACT
PRIVATE LENDER SERVICES, CORP. F06000001720 ACT
PRIVATE LENDERS USA INC P05000145887 INACT/UA
PRIVATE LENDING, INC. P98000023000 ACT
PRIVATE LENDING FINANCIAL INC. P05000105463 INACT
PRIVATE LENDING GROUP, INCORPORATED P94000054409 INACT
PRIVATE LENDING GROUP, LLC L08000013213 ACT
PRIVATE LENDING OF JAX , INC P04000135938 ACT
PRIVATE LENDING SOLUTIONS, LLC L09000009231 ACT
Dont worry if you see that the business is inactive. The owner of that company obviously had specialized in private lending, dont you think he might still have a contact or 2? At the very least he might be able to forward you in the right direction. (This part of the industry usually know each other)
By clicking each link it gives you the names of the principles along with business and personal address. A simple trip to whitepages.com will get you the contact info. (of course the phone number might just be on the public record app listed on the site, and if the site doesn’t have it online you can always get it from the dept itself with just a trip or having someone go there for you)
Its amazing, I have looked up a number of states and this name search almost always works.
Hope this helps,
Dave
The Private Money Guys
P.S. If you think the free stuff is good, wait till you see the real program.
I just got back last night from going to a mastermind meeting hosted by Chris Krimitsos, called The Wealth Building Annex and I was absolutely blown away.
First let me say that if you have never been a part of a mastermind group, please find one and join it.
The concept of a mastermind group is 1+1=3, 2+2=5 and so on. And 2-1= less than 1.
What that means is that when 2 or more people get togather for the same purpose of moving forward, there is an additional mindset that is created. This is called the corporate mindset.
Thats why they say two heads are better than 1.
They also mentioned this in the bible. When Jesus said, “When 2 or more are gathered in my name I am there.”
What He was saying is that when 2 or more gathered togather in one mindset, you touch the devine and devine inspiration comes.
This concept is what is called a spiritual law and a law is a law only if it works in every situation. This means the law of the Mastermind works in all aspects of your life.
It works in nature, the pack hunters are always the most succesful. It is also when an animal gets separated from the her that it is the most vulnerable.
It works in marriage, and in families, and for intents and purposes of this group, it works in business.
Don’t worry I am not going to start preaching here but the concept absolutely works.
Ever notice how ideas come togather so much easier, or solutions become that much simpler to arrive at, and inspirations just come naturally when you are talking the situation out with someone else? That is the law of the mastermind group.
The other side to that coin is that 2-1= less than one. You will never be working at your full potential when you work as an island.
This concept is talked about in detail in the book “Think and grow rich,” by Napoleon Hill, which if you haven’t read can be downloaded for free at this wonderful site.
I just wanted to bring up wonderful concept because this concept above most others is what will propel your business to the next level and guarantee you success.
If you don’t have a mentor, get one. If there isn’t a mastermind group in your area, start one.
It only takes 2!! Seek out truly like minded individuals and go from there.
Set up weekly meetings and remain accountable.
I usually end by saying, “Hope this helps,” But I guarantee that “This will help!!”
Dave
The Private Money Guy
http://www.Privatemoney4all.com
There is a source of funding that is available for anyone to do any good deal out there. It is not based on your credit or your income (though ability to repay is a prerequisite)
That source is private money. or Private lenders and their approval is based primarily on the strength of the deal or property.
To clarify, private lenders are ordinary individuals that have money they want to invest. Some have IRA’s (Individual Retirement accounts) 401k’s and some just have money sitting in their bank account that they want to get a higher return on.
Real Estate investors can utilize this largely untapped source of capital to take advantage of this new and exciting market.
Why is this source untapped?
1) because many don’t understand the concept of private lenders.
Many mistake private money for hard money with it’s stringent requirements, and high costs.
Hard Money lenders usually require 3-5 points and charge anywhere from 14-18% interest requiring appraisals, surveys, financials and more. And can require the borrowerer to have anywhere from 10-40% of their own money into a deal. Their requirements many times are as strict as an institutional lender.
Private Money lenders mostly do not charge points. Many do not require an appraisal, survey, downpayment, credit or other items. Their interest and terms are usually negotiable and generally speaking they are much easier to deal with.
2) Nobody knows where to find the private lenders.
As opposed to hard money lenders and banks, Private money does not advertise. You have to find to find them.
Over the next few days, I will go over a number of ways you can find private money investors, approach them and structure deals that they will want to do.
In the mean time, for more info on the most groundbreaking way to find private money in any county in the country please go to www.privatemoney4all.com
Hope this helps
Dave
The Private Money Guy
Thanks for checking out my Blog. I’ve been doing Real Estate for over 12 years.
I’m a rags to riches story, (I started my business living in a motel room with 5 adults and 3 dogs to living in a 7000 sqft log cabin style mansion making 60-100k per mo)
I’m also a realestate cautionary tale, (I almost lost the mansion + almost went bankrupt by making some bone headed moves)
And I’m also a story of the road of redemtion (I’ve learned from my mistakes, made adjustments and am having success even in this troubled market)
I am here to learn and also to help.
I hope that you will take advantage of my story, learning from my successes and from my mistakes (notice I didn’t say failures, No matter what happens, you are not a failure until you give up!!)
I also have some interesting insight on private money, hard money, and creative financing. (Even in this market the money is still out there and I know where its hiding )
I hope to meet a lot of new friends and hope to be a friend to all.
Sincerely
Dave
Http://www.privatemoney4all.com
