How To Find Private Money for Your Real Estate Deals - Chris Monroe from FutureCashFlowClub.com

Описание: In this coaching call clip, Chris talks about how to find a private lender. Many people think of PML (private money lenders) as other real estate investors. However, when your search goes outside of other real estate people, you may find a better lender.

Pro tip: Talk to people who are business owners, people who have retired, and others who have liquid capital that would like to get into real estate. Everyone wants to invest in real estate, right? You just need to become the bridge to success for them. Use your knowledge of the inner workings of deals with their capital for a win-win solution. Find out what they want, then develop a strategy to get them that.

Remember that everyone can get that work! Real estate agents, cash buyers from your list, other wholesalers, church members, family members and people you have been networking with for years at real estate meetups. Find out what challenge they are having and provide a solution. This is a life lesson that goes beyond real estate investing. You are not paid by the hour; you are paid by the value you bring to that hour. Become a valuable resource for people and you will always win.

PML - Private money lenders usually get a return on their investment as an APR annual percentage rate. Depending on the PML you find, terms can be as flexible as you can negotiate.

PMP - Private money partners usually get equity in a deal. This means they would benefit from any value added to the property from appreciation, property updates or otherwise. These can be short term or more long term. Think of these are more relationship based. Think of a rich uncle.

HML - Hard money lenders usually have the easiest money to get. The interest is expensive, and the term is short. Typically, they will lend from 3 - 12 months maximum. Many also charge points for using this money. Qualifying for HML is much easier for newbies. The money is lent based more on the property versus on the person.

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**DISCLAIMER**: I am not a financial adviser and you should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. Results may vary due to knowledge on the subject matter, capital to invest and credit worthiness.

Fair Use: Some of this material is copy written. It may be used for news purposes according to the fair use act. Copyright material may, under certain circumstances, be quoted verbatim for purposes such as criticism, news reporting, teaching, and research, without the need for permission from or payment to the copyright holder.