(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.)
Today I’m going to let you in on a sneaky little trick I've used – and anyone can use – to quickly and easily uncover private lenders who are already active in your local arena.
The truth is, hardly anyone seems to ever think of this, but it’s certainly not rocket science. So fair warning, you may just smack yourself in the noggin with a, "Why the heck didn't I think of that?!"
As an investor, you probably already have a working relationship with a title company or closing attorney for your transactions, right? Hopefully an investor-friendly one who already handles closings for a number of other local investors.
If you aren't sure, ask around at your local REIA group meeting, and you should be able to clearly identify at least one solid company that closes multiple investor transactions for your industry colleagues all the time.
Well, Patrick Riddle here, and this is exactly where I found myself one day, when it hit me...
I was literally sitting at…
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.