What would your real estate investing business look like if you had an unlimited source of capital to fund your deals? Imagine having a million bucks in private money at your disposal . . . what kind of wealth could you create buying real estate in today’s market? How would that affect your lifestyle?

Well, that’s a reality now for one of our students (and this kid is in his mid twenties!). He just locked up access to a million dollar credit line from a private lender and is going gangbusters in his market down in Florida.

And you know what … that could be you! You can have access to cash for your real estate deals … regardless of your personal financial situation and regardless of your credit.

To help you get on the fast track to getting the money, here are a few tips from the front lines …

9 Powerful Tips to Getting Private Money

1) It’s Easy to Get

I recruited my first private money lender when I was 22 years old . . . and if you’ve ever seen a picture of me, you know that I look young for my age. Soooooo, when I signed up my numero uno private lender, I looked like I was 17!

People talk about getting private money like there’s a big mystery behind it and say, “Everyone that I talk to wants to hold on to their money right now and is worried about the real estate market.”

That may be someone’s conditioned response BUT when you educate them on the process, how it works, why it makes sense, ask them good questions to elicit their needs and goals, and match them up with the right opportunity … .the investment sells itself.

Come on guys and gals . . . if a 20 something college drop out who looks like a teenager can do it, you can too!

2) No Credit . . . No Problem

Never once have I been asked for a copy of my credit report or even my credit score by a private lender.

Private money loans are based on the property, not the person. A private lender’s security comes from being in a good loan to value position.

3) Virtually Unlimited Quantity

Private money is simply investment funds from an individual, any individual. So everyone you know and everyone you meet hence forth is a potential private money lender.

They are all around you everyday, everywhere you go.

So, you’ll never run out of private money prospects for your real estate investing needs.

4) Go for the Formal Appointment

This is one of the vital pieces to the private money getting puzzle. After you pique someone’s interest in your opportunities, it’s time to go for the formal appointment.

This is where you meet with all decision makers, educate on why it makes sense to invest in real estate today, educate on your business model and how private lenders fit within it, and let them know the general terms for private loan opportunities you have available.

Make sure you focus your attention as well on the prospect’s goals and needs. Find out exactly what a good investment looks like to your prospect and do the best you can to present one of your deals to meet their objectives.

5) Make Your List

Now, this is a brainstorming session. Which means, do not attempt to qualify your answers . . . just write down what comes to mind. One of the biggest mistakes I see people make when making their list is to disqualify people either because you think they wouldn’t have interest or available funds.

So, write down the first five people that come to mind who are potential private money prospects. DO IT NOW!

OK, now write the date by which you will have called them to set up a formal appointment.

Follow through on this action step and you’ll be on your way towards getting your next deal financed with private money.

6) Listen to Henry Ford

I thought I would bring in the wisdom of Mr. Henry Ford to help us out a little bit . . .

“If you think you can do a thing or think you can’t do a thing, you’re right.”

This is powerful advice! Your expectations will play a major role in your success or failure at getting private money. The simple fact that there are thousands of investors all across the country that use private money to finance their real estate deals should be proof enough that you can do it too . . .  regardless of age, race, your network, your net worth, or any other excuse you may come up with.

7) Follow Up Until They Buy or Die

The key to my success over the years at building my base of private lenders was aggressively following up with people (after the formal appt) until they lent me money on a deal or told me to get lost . . . and the latter doesn’t happen often because you’re offering money-making opportunities. Most people will want to stay in the know even if they’re not ready today to become your private lender.

So, each time you have a deal on your hands, follow up with all your prospects whose investment objectives match up with what you’re offering.

And use my philosophy when you need to get a deal financed . . . “Ask until!”

8 ) Where to Find Private Money Prospects

One of the best places to find potential private lenders is at your local real estate investment club. Often times, these meetings are filled with people who have heard real estate investing is lucrative and want a piece of the action but for whatever reason are never going to do it themselves.

That’s where you come in!!

Educate them on how they can get involved investing in real estate without having to do anything other than writing you a check. In other words, they can “invest in real estate” by becoming your private lender.

9) Business Card Reversal Technique

This is where you use the back of your card for a marketing message that piques someone’s interest in private lending without you having to bring it up in the first place.

Here’s what you do . . . on the back of your business card, have a phrase like, “Learn How to Make High Returns Backed By Real Estate! For more info, contact me at … <Your Contact Info>”

Now, when you hand out your business card, some people’s curiosity will be peaked and will ask you for more info. Then go for the formal appointment.