So, I’m often asked if it’s possible to convert cash buyers into private lenders.
Well, folks, it’s not only possible, I’ll share with you 2 easy ways to do it.
But to get there, we have to take a step back…
…and consider whether a cash buyer could potentially be a good source of private money or not.
Hey Moguls, Patrick Riddle here, and from my experience, the answer is a heck yeah!
Check this out…
What is a cash buyer?
So, I’ve been in this business for a while now and I’ve noticed something…
Investors aren’t looking at cash buyers the right way.
What does that mean?
Well, what is a cash buyer?
A cash buyer is simply an investor who’s buying deals.
I know, I know, you’re thinking, ‘Duh, Patrick, we know that!’
But go with me on this…
Sometimes, cash buyers/investors who are buying deals might not have a deal they’re working on at the…
Patrick Riddle
has been investing in real estate ever since he got the bug in college at Clemson University and - to his parents dismay - dropped out of college to dive full-time into real estate at the age of 22 with a couple friends/partners from school.
The first few deals were rough for them, mainly using their own cash, credit, and hard money loans. But, soon he found out that was a rough and unsustainable way to build a real estate business.
After "on the job" learning through the school of hard knocks at first, he found the key that helped their company get deals done more quickly, with higher profit, less risk, without having to go to banks or use their own cash.
Fast forward to today, their company has closed over 130 real estate transactions and has put over $6 million in private money into their own transactions.