(NOTE: What it's like to write a $1,000,000 check for a sweet piece of undervalued real estate … even if your bank account is overdrawn and you owe the local lawn boy $20? This special report shows you step-by-step.)
Hey guys, it’s Patrick Riddle here...
You are about to discover why private lenders might say no to you and what you can do about it.
Let’s say you're meeting with a private money prospect and you find out they're currently earning about 3% on their investments. During this meeting, you offer them a 6% return. That’s double what they're currently earning. Sounds irresistible, right?
Wrong. The private lender prospect says no. Why is that? Seems incredulous doesn’t it?
Why would someone say no if they're currently getting 3% and you offer them 6%?
It all comes down to one reason and one reason only: They simply don't believe that you're going to do what you say you're going to do. That's it.
The Trust Issue
It's a credibility issue – and a trust issue.
Face it, if they trusted you 100% that you really would pay a 6% return, they would say yes. That is, if they trusted you 100%. But obviously, since the answer…
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.