How to Grow PML Network as Experienced Investors

Question

Hey BP Community. We are experienced investors in the Cleveland market, we are turning 1-2 properties per month (both rentals/flips). Currently we use a mixture of HML & PML, with our PM mostly from friends and colleagues. We are however really looking to expand our PML network as our deal-flow grows. We are currently offering 12-16% interest to our private money investors which we feel is a strong offer in this market. In your opinion, what are some ideas on how to grow our network beyond just friends and colleagues. Thank you for all suggestions, thoughts, and opinions.

Jacopo Iasiello · Answer

Hi Rajin, It's great to hear that you're experiencing success in the Cleveland market and looking to expand your private money lending (PML) network. Here are a few ideas to help you grow your network beyond your existing circle of friends and colleagues: Real Estate Investment Clubs, and MeetupsOnline Platforms and ForumsSocial Media OutreachLocal Real Estate ProfessionalsNetworking with Professionals Outside Real EstateReferral Programs. Hope it helps

Tyler Warrick · Answer

@Ray Hage might be a great resource to connect with. He does this in FL market and might be able to give you tips/tricks.

Account Closed · Answer

Hi yes, the Cleveland, Ohio and surrounding area markets are great, and a lot of investors/ people are excited to invest in Ohio. As an Ohio Realtor if you have any questions or concerns, please contact me. Please don't hesitate to reach out to me. Thanks!

Regina Blake-Ohio Realtor

Samuel Diouf · Answer

I've found some great potential PML's by reaching out to retired investors and building genuine relationships with them.

Rajin Saini · Answer

Thanks for making the connection!

Ray Hage · Answer

Thanks for thinking of me and the shout out!

Chris Seveney · Answer

@Rajin Saini

Reach out to private lenders here on BP

Happy to take a look at some of your deals

What we find to work the best is honestly not sell anyone but just tell people what you do

You fix and flip a few homes per month using private and hard money

Christian Mattila · Answer

How big are some of these deals?

Jacob Sherman · Answer

More institutional lenders are getting involved in the hard money space and much easier and better to work with as there is structure to the process

How to Grow PML Network as Experienced Investors

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