All Forum Posts by: Mike Alder

@David Rollings What did it cost you to build? Do you have utilities in the tiny home?

@Bernie Germani Great points! Network where the money is! Thanks for adding so much value in here!

@Thelonious Jones Thank you! I'd love to hear the results of your investor meetings!  Keep me in the loop!

You are absolutely right @Jeff S. Thank you for covering some of the realities of this business in this post!

Hey @Robert Withers

Welcome to the site! I'd love to jump on a call and connect when you have time. Thanks

Thanks @Jon Klaus

I have a partnership where we borrowed a 50k line of credit to but 3 houses and yes that money was really cheap (3%) but that was the only time I've used a bank. 

Although I pay a lot more for private money I like that it enables us to be creative with our deals. 

Hey @Drew Castleberry,

I'm paying 12% to 15% depending on the lender. They are secured by a note or 1st position on the deal. 

Continue networking it only takes one yes and a successful deal to have several investors backing you in this biz!

Hello BP Fam,

Yesterday I was personally delivering payments to my private lenders. I've always delivered payments to my local lenders in person partially because I'm crazy but I feel it's good business to thank investors in person for believing in your business decisions!

While making some small talk with my biggest investor about looking for more deals he gave me the "green light" to shop for more deals and jokingly said that he wants to see my debt to him grow much bigger.

If you are struggling to raise private money get extremely detailed on what you plan to do with your investors money and kick on doors till you get your first yes! Once you land your first investor treat them like gold and they will continue to invest in you. They will brag to their friends on the golf course about the nice passive returns they are earning by working with you and before you know it you will have access to more investor money then you will be able to invest. 

Just sharing some morning motivation. Hit me back and share your private money stories or questions

Hey @Jim Shepard

I agree there is a lot of truth in it! We all say we could write a book on the stuff we hear from our tenants but seriously we need to write this stuff down and create an entertaining book or podcast episode

Hey @Trevor Ewen

Thanks for sharing the resource! I'll check into it!

Hey @Luigi Ramirez

Great attitude! Love your ambition! This is a great place to get any of your questions answered