Has this ever happened to you?
You got a great lead, which ended up turning into an awesome deal (happy face!)… only to have it all fall apart? (Sad face.)
Well, don’t worry, this happens to the best of us.
And, it just happens that there’s a little secret to locking in that ‘Yes!’ from a private money lender or seller. And I think you’ll find this lesson pretty interesting…
Make It Scarce
So, like anything else, there’s no guaranteed, one-size-fits-all approach to get people on board with your business. But there are absolutely some powerful tools you can add to your belt when talking to potential private money lenders, buyers or sellers – and it’s as simple as the words you use.
I’m talking about the principle of scarcity.
It’s the same psychological magic that has people scrambling to McDonald’s every time the McRib sandwich comes back… or piling Disney DVDs in the shopping cart when their childhood favorites leave…
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.