Updated 2 months ago on . Most recent reply
Finding private money lenders without attending a REIA
Whenever someone asks about finding a private money lenders without (someone who uses their own money and doesn't go to the capital market) they almost always are guaranteed to get a boilerplate answer such as attend your local REIA. Having attended multiple they aren't always found there
what can we do to help those looking not chase ghosts?
Most Popular Reply
Yes, investors seeking help finding private lenders DO get "boilerplate" answers about attending REIA meetings...
... for the EXACT same reason that single folks seeking a romantic partner are advised to "go to church" or "head to the bar at Happy Hour."
That reason is THIS: Sometimes, that approach works! And sometime, not so much.
But, it's not a guarantee. There IS no guarantee. This is art, not science!
The truth is that you secure a private lender and a mate the exact same way.
You don't HUNT for them; you ATTRACT them!
In BOTH cases, you've got to put yourself out there, showing how you operate and what is important to you.
As a real estate investor, every deal you complete should be posted on your SM accounts: BiggerPockets, LinkedIn, Facebook, Instagram, TikTok, etc.
And don't just post the financials. You should talk about how you found the deal, the challenges you faced completing the project, and any unexpected challenges you had to resolve. Talk about how you funded your deal, and mention how you can work with money partners in a win-win manner.
Don't sell: Explain!
The goal is to BE the kind of person that others WANT to be involved with!