OfflineI am looking for suggestions from investors on how to approach potential private lenders/investors, and what to say. There are a number of people I plan to talk with.Friends, family, acquaintances, and other real estate professionals. I have not done a deal, It is hard to show them I'm credible without actually sitting down with them to lay out a potential deal. I want to peak their interest enough so that they will meet with me to discuss further. ( btw, The funds I need are for renovate, sell projects)
I also know I am not asking them to lend money. I am offering them an opportunity to make a good return on good investment, that is backed by real estate.
How would a person strike up a conversation that leads to an investment opportunity.. and what would you say??
Thanks for any and all suggestions/ comments..
What I have found out is that if you believe in yourself, others will believe in you!
When I borrowed money the first time from my brother, I told him I needed funds to invest in re, and that I would pay him xxx amount for so many months, and if I needed it longer, then I would pay him xxx amount per month... I had a plan, and he believed in what I showed him.
After I refinanced my property and paid him back, he told me that I could use his money anytime I needed it... and I have done so a few times already! a win-win for both of us!
If you want your lender to partner with you on projects, you can offer him 50% of profits; you will need to have a plan, and know exactly how much it will cost for property, rehab, holding costs, etc. and present it in a professional manner with a pro-forma, so that you can transmit your knowledge and your confidence!
good luck!
Val
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Watch it here:) Enjoy
https://tvallc.infusionsoft.com/go/PMV/renvestr/
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Thank you for sharing your thoughts and experiences with me.
I'll make good use of it all. Thanks again..
Scott