While you should always be on the lookout for owner financing opportunities, it's nice to have your own financing already in place to give you the flexibility to make all cash offers.
A great source of non-traditional financing is private investor loans.
It's a good idea to collect a list of private lenders that you can call when you have a new deal lined up.
But where do you find them? We find private investor loans in some of the most unlikely places.
Most of these lenders aren't really lenders at all.
In fact, many don't even know they are in the market to lend money.
You find these loans by talking to lots of people about what you are doing.
That's right.
You find these loans by talking.
A lot.
As you explain to your Uncle Tommy the type of investing that you do, and you ask him if he knows anyone who might be interested in putting his money into real estate, you may be surprised to hear him answer, "As a matter of fact I do know someone who's interested - me.
" Many folks have chunks of money they are shuffling around between investments like certificates of deposit, money market accounts, etc.
They are always looking for a better place to park their funds.
Many people have also heard that real estate is a great investment, but lack the knowledge and/or time to get involved.
These are your perfect candidates for private money loans.
Busy professionals may have extra money to invest, and probably are interested in diversifying their portfolio into real estate, but simply lack the time to find, structure and manage their own deals.
You provide them a way to invest in real estate without having to invest their time.
The great thing about finding these types of lenders is that you don't have to "sell" anyone on the idea.
Simply share what you are doing and ask them if they know anyone who might be interested.
The best way to find these lenders is to network.
Meet lots of people and tell them what you do.
Make sure your friends and family know what you do and know that you are always looking for interested private investors.
You might be surprised at how many people raise their hand.
Finding Money in Unlikely Places - Private Investor Loans for Real Estate While you should always be on the lookout for owner financing opportunities, it's nice to have your own financing already in place to give you the flexibility to make all cash offers.
A great source of non-traditional financing is private investor loans.
It's a good idea to collect a list of private lenders that you can call when you have a new deal lined up.
But where do you find them? We find private investor loans in some of the most unlikely places.
Most of these lenders aren't really lenders at all.
In fact, many don't even know they are in the market to lend money.
You find these loans by talking to lots of people about what you are doing.
That's right.
You find these loans by talking.
A lot.
As you explain to your Uncle Tommy the type of investing that you do, and you ask him if he knows anyone who might be interested in putting his money into real estate, you may be surprised to hear him answer, "As a matter of fact I do know someone who's interested - me.
" Many folks have chunks of money they are shuffling around between investments like certificates of deposit, money market accounts, etc.
They are always looking for a better place to park their funds.
Many people have also heard that real estate is a great investment, but lack the knowledge and/or time to get involved.
These are your perfect candidates for private money loans.
Busy professionals may have extra money to invest, and probably are interested in diversifying their portfolio into real estate, but simply lack the time to find, structure and manage their own deals.
You provide them a way to invest in real estate without having to invest their time.
The great thing about finding these types of lenders is that you don't have to "sell" anyone on the idea.
Simply share what you are doing and ask them if they know anyone who might be interested.
The best way to find these lenders is to network.
Meet lots of people and tell them what you do.
Make sure your friends and family know what you do and know that you are always looking for interested private investors.
You might be surprised at how many people raise their hand.