JUST DO IT first of all. Now I don't mean any disrespect to the members of my club and community - but I have to say that it's a tough nut to swallow when I get a call from an investor who has a deal and is wondering if I have any private money contacts. This is just plain crazy unless they are planning on wholesaling the deal to me.
Now I ask you - why would it be ok for me to do all the work on raising the money - by talking to people, sending out marketing, giving presentations and all the rest of the hard work, so that an investor can easily just call me up and ask if I know of any private lenders who would be interested in their deal? Common guys -help me, help you...This is silliness. After all - I am not a hard money lender.
No my friends, in order for an investor to be successful in this market - you simply must must must learn how to raise private money.
I had a private money mastermind group last night and the one thing that folks were doing successfully was talking to their warm leads. Who are your warm leads? All your friends and family and associates.
You need to talk to them about your deals and what you pay to a private lender. Once you get good at this then you can start holding meetings.
If you don't think you have enough experience yet as an investor to show your track record to private lenders - then partner up with someone with experience for goodness sakes!
Bottom line is - DO NOT, NOT go out and raise your own money for deals. Don't give excuses that you don't know how, or that you don't have enough investing experience. There is always a way to be successful! You just have to do it!
Love you guys and don't mean to be harsh - but these are hard times and the best times to be an investor and there is no time for coddeling.
I am giving a presentation on How to be a Private Lender tonight in Culver City. You are welcome to come on by and check it out!
