| Since a professional team is so important to your | | | | private lender. Those Americans who are sick and |
| success as a real estate investor and, more | | | | tired of seeing their stock investments go in the tank |
| specifically as an apartment owner, I would like to | | | | are all potential private lenders. Anyone who see |
| take the opportunity to discuss how to find and use | | | | value in real estate but otherwise doesn't really know |
| these team members in a little more detail. | | | | how to proceed is an ideal private lender. |
| Just to recap, some of the essential team members | | | | The key here is that you need to go out and find |
| that you'll want to have in place include: | | | | these people. Most don't advertise and don't wear |
| · Bird dogs | | | | t-shirts that say 'I have money to lend'. You must |
| · A real estate agent or agents | | | | first be a promoter of what you do. Apartments as |
| · A commercial mortgage broker | | | | an investment make perfect business sense because |
| · A banker (one or more) | | | | when they are purchased properly, have proven |
| · A title company or closing attorney | | | | income streams that are almost 'economy proof'. |
| · A real estate attorney | | | | Unlike other businesses, apartments put roofs over |
| · Private lenders | | | | people's heads and that gives them lasting value. In |
| · An SEC attorney (if part of your business | | | | fact, it could be argued that apartments are an even |
| includes securing private funding) | | | | better investment when the economy is bad |
| · An asset protection attorney | | | | because fewer people are looking to buy homes. It is |
| · An accountant or CPA | | | | this message that you must deliver to potential |
| · Property management companies | | | | private lenders and the business model you follow will |
| · Contractors | | | | be more than logical, it will attract the capital you |
| As you start doing more and more deals as a real | | | | need. |
| estate investor, unless you have unlimited resources | | | | Because the pursuit of private capital is so critical for |
| (the consummate deep pocket) you will sooner or | | | | your long-term success, I will be devoting future |
| later reach the limits of what you can do on your | | | | articles to the specific steps you need to take to |
| own. Some investors find this depressing but I rather | | | | pursue it. For now, know that it exists, it does work, |
| like to look at this as a path to boundless | | | | and that once you know the rules for how and when |
| opportunity. I say this because it gets you into the | | | | to use it, the sky's the limit. |
| habit of networking to find private capital, one of the | | | | Can you see how your empire can be created |
| best ways to work the business that exists. | | | | without you not having to be a jack of all trades? |
| Private capital is literally everywhere and is arguably | | | | Follow with me through this series and you'll continue |
| limitless. This is because private capital is not limited | | | | to see how your own team can help you acquire the |
| to banking institutions or subject to the rules that | | | | apartments you seek and help build the fortune that |
| govern the world of commercial finance. In short, | | | | is out there for the taking! |
| anyone who you pass by on the street could be a | | | | |