All Forum Posts by: Jeff Linder

This is the same question I have. Does anyone have a sample they can share?

Originally posted by Danny Johnson:

Jason and Jeff,

There is another way. It involves finding a mentor that is willing to put up the money and help you through deals. 50% is the usual split. For people starting out, this is a great way to do it. You can do deals, learn a lot, gain experience, and make money. The best part is that you don't have any risk. The mentor is putting up all of the money. Once you complete several of these, you will be in a better position to start working with private lenders.

Does sound like a great idea, but I think finding a mentor that is willing to do that is the equivalent of finding a private lender. Would have no idea where to find someone like this...and if I did find someone that was willing, seems to me they would also be considered a private lender? I do have someone that I consider a Mentor who has been invaluable to me, but he does not "partner" on deals. Advice is given graciously, but he wouldn't do what you mentioned. Although I sure would love to find someone who would. It's probably just a matter of networking like crazy to find someone you can call a mentor or private lender.

Well, you're hearing from another one! I'm in OC and new to the board as well. I'm also a musician. Been playing piano for country bands for 15 years and still play the circuit and a lot of corporates. We're playing at Knucklehead's in San Clemente on Thursday at 8pm (corner of Pico and El Camino Real). Good to have another musician/investor on board!

Jason, although I told you to secure private funding..I'm still trying to do the same thing myself. It IS hard to do (and if someone disagrees with that, I'd love to hear from you to help both Jason and I figure out how to make it easier to secure) but I'm sure with enough advice from the great folks here and with your hard work, you'll find one that will be eager to help you with your deals. That's my goal, too. And with private lenders, you have a little more control in regard to your terms - so you are not held at the mercy of the big corporate-giant banks!

I think this is a blessing in disguise for you. Banks, IMO, are not the way to go. You need to be able to act fast on deals and banks tend to draw things out to the point of you losing a potential deal. You should spend your time, now, looking for and securing some private money lenders.

Peter, Thanks for taking the time to write that. I appreciate it. So, if they are looking at the deal, my experience and my financial health.....and I haven't done a deal yet, and my personal financial picture is bad...how do I start? That seems to be my biggest, if not one and only, hurdle in trying to find funding. I can paint a picture of myself with a website, a "flyer" of sorts, explaining who I am and why someone would lend with me, etc etc. But in reality, I am a novice looking for my first deal with no money or credit.

I realize that the answer to this question may be too lengthy to write as a response here, but I sure could use some advice.
Question.... When I find what I believe is a good deal and I want to act on it, how do I present it to a potential private lender? I want to make sure I do any due diligence and provide all the info I can to make it look good to the lender and I want to present it completely and professionally. What are some of your suggestions on how to go about taking a deal and "packaging it" correctly to present to the lender?

Thank you, sam, for that response. I went back to the Recorder's office again and tried to start over - remembering what you said - and I just can't figure it out. I tried to do what you said... I just can't find addresses anywhere in their documents. I am getting so frustrated and feel like I'm running out of ideas on what to do. Please help - ANYONE - what do you all do to search for NOD's? DO you physically go and spend hours at the Recorder's office? Do you do it from home? WHat are your tricks of the trade? I sure would love to hear more from all of you, please. I am a sponge right now. I'd love to absorb your info and gracious help.

I'd personally say option F. I have a feeling that seasoned investors would disagree, but if you are a newbie (such as me) and your main focus is to make money, however it's going to happen...and if you are assured or plan to profit an acceptable amount on the deal...then do what it takes to achieve that specific goal. Even if it means someone else is making more than you or getting the better end of the deal. You have still achieved your personal goal on the deal and that is the bottom line.

I just went to my county's Recorder's office to search for NOD's and found many of them...but none of them have addresses. How do I locate the owner of a property that I find in the Recorder's office? The docs had info like name, amount in default, etc.. but no way for me to contact the owner...help! I'm new!