Why You Need Private Money

Posted on September 25, 2012 by

The topic of Private Money is near and dear to my heart.  When I started my real estate investing career many years ago, I heard about the necessity of finding private lenders.  In fact I even found two.  But then I stopped.  For four years I PROCRASTINATED.  I didn’t get it!!!  For four years I continued to go to banks and jump through their hoops in order to fund my deals.  I also had used hard money lenders, but found them very expensive.  

It wasn’t until I quit my J.O.B. and found that banks wouldn’t loan me money that I realized that I needed to bring private lenders back into my life quickly.  When I took that step, everything changed for the better.

What are some of the advantages of using private money for your real estate investments?  Well, if you haven’t decided whether or not to use private money, I decided to lay it on the line here for everyone to see.

  • Fast & you can buy at a discount
  • No credit check & doesn’t show up on your credit report
  • Unlimited funds
  • Control, you set the rules
  • Help friends, family & meet a great group of people
  • Get some of your profit when you buy
  • Cash flow
  • Flexible
  • Can make offers with confidence
  • Can structure quick and more profitable exit strategies
  • Saves you money
  • Cheaper than a partner
  • Fund the purchase of defaulted paper
  • It is the foundation for a very profitable brokerage business

In this business when a deal comes along you have to move fast.  Many investors have watched a deal slip through their hands while they waited for the bank to approve their loan.  Once you have private money available, that won’t happen to you!  You can make an offer knowing you can go ahead and set a closing date.   Meanwhile, your competition is wondering how you did it so quickly!

Alan CowgillAlan CowgillAlan Cowgill will be speaking at our Atlanta REIA Main Meeting on Monday, October 1st and will be back again on Saturday, October 6th for a full day Private Lending Workshop where he will teach you how borrow an unlimited supply of private money to fund all the residential and commercial real estate deals you can find.

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