This is the first in a series of videos I made to walk you through the process of finding private lenders. In this video I walk you through the documents used to raise capital for a property I just acquired, and I take you to the house itself. We go through the note and the mortgage on this property at 2284 Bailey Road in Cuyahoga Falls, OH 44221 (check it out on the Internet!). It’s an REO that needs a lot of work!
I’ve developed relationships with people I thought would be good private lenders. I’ve sent them information about what I do, and they wanted to learn more and find out how they could get involved. When this property came up, I called them and told them what I needed. The profit potential on this project is $40,000. The investor will make either 12% on their investment or 15% of the profit, whichever is greater.
You have to make a compelling offer to your potential private lenders – make it irresistible! Do you want to know more about how to raise money? Come along with me as I walk you through this house – a true diamond in the rough.
Email coaching@srecnow.com and let us know how you want to learn about private lending.
