Self-directed IRAs have caught on like wildfire in the last few years. Five years ago,…
Browsing: private financing
Finding financing is one of the biggest challenges for most real estate investors. I previously wrote How to Generate Private Money, where I broke this process into six steps; here I will break down the 5th and 6th steps (See: Steps 1-2, Steps 3-4) of dealing with private lenders.
Step 5: Handle objections, ask for referrals
Goal: Overcome objections to optimize success and get referrals
Solution: Anticipate objections and have a solution to handle them. You will find that the same 2 or 3 objections come up 75% of the time and you have to be able to handle them. Common objections are: What if the deal flops, how is my investment secured, what is in it for me, why real estate, etc.