Finding a private money lender is far less complicated than people think. Striking up a ten-minute conversation could be enough to find your next round of private money. At least that’s how it worked out for Josiah. Josiah is a small business owner, running a pool cleaning business while building up a small portfolio of rental properties. He sees dozens of new faces every day, and those new faces directly translate into new opportunities.
After hearing our past episodes with Amy Mahjoory, Josiah took some of her tips and began pitching his deals to everyone he encountered. Now, he’s got some private money lenders lined up for his new multi-unit, four and a-half acre, short-term rental real estate deal. We told you—raising private money is a lot easier than most people think! But we’re not just talking to Josiah today. We also have Amy back on the show for part three of her private money masterclass.
This time, Amy talks about building the “credibility pieces” that give private money lenders confidence in you, your team, and your deal. These range from presentations to deal reviews, calculators, and more. These private money tools took decades to build and Amy still uses them today! Interested in testing out some of Amy’s private money-raising tools? Check out the BiggerPockets Real Estate Podcast show page for links!
David:
This is the BiggerPockets podcast show 654.
Amy:
I’m getting the commitment, but I’m still building rapport and trust. I’ll explain to you how the flow of money works. But right now, don’t even worry about it. We’ll cross that bridge when or if we get there. Once somebody invests with you, and they process the wire, that’s a step for the FACT framework, the transactions piece, then we really want to take a step back and look at how we nurture our network. How do we follow up with our private money lenders so that two things happen? Number one, they reinvest, and number two, they increase their investment…
