| Now that the mortgage market for buying | | | | one-on-one meetings are a great alternative. I |
| investment real estate is all but dead - investors | | | | generally recommend a breakfast meeting in a quiet |
| need to have other sources available or go out | | | | restaurant where you can have 15 to 45 minutes of |
| business. Fannie and Freddie will no longer be available | | | | time with your prospect. Like the group meeting you |
| for investor mortgages, traditional banks and saving | | | | need to lay out your private lending program's details |
| and loans will not touch investors loans for many | | | | and benefits. |
| years to come and hard money lenders, when | | | | Out of Town Prospects - Creditability Kit |
| available, can have total cost over 25%. | | | | If the potential prospect is out of town you will need |
| The answer is private money raised from people, not | | | | a good creditability kit you can send in the mail. It is |
| banks, through a process called private lending. Here | | | | very important to follow up two or three days after |
| are the four top ways to attract and develop your | | | | you send the package to see if they have any |
| group of private lenders. | | | | questions. Even if they do not participate right away, |
| Private Lending Group Presentations | | | | keep in contact and they may invest some time |
| A private lending presentation involves getting 5 to | | | | down the road after a number of follow up contacts. |
| 20 people into a room and doing a group | | | | Existing Private Lenders |
| presentation where you lay out the details and | | | | If you already have a private lender, or lenders, be |
| benefits of your private lending program. This may | | | | sure to keep asking them if they would like to |
| not be for everyone depending on your comfort | | | | participate in more deals. You will be shocked that |
| level of talking in front of a group of people. But | | | | most investor only give a very small investment to |
| there is big advantage of doing group meetings. | | | | start and wait to see how things turn out before |
| When people start to ask questions and tell positive | | | | giving you more money. So keep asking and do what |
| stories a certain level of group think starts to take | | | | you say you are going to do they will develop a |
| effect and can be very powerful on the attendees. | | | | better relationship and trust level with you. As the |
| One-on-One Meetings | | | | relationship grows they will invest larger and larger |
| If you are not comfortable with group meetings - | | | | sums to grow your real estate investing business. |