(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.)
I'm going to say something about private money you'll probably find hard to believe.
You may even flat-out reject it.
But after many years of experience in the trenches myself, I can tell you it's 100% true.
Are you ready?
Here it is...
The single biggest factor that determines your success (or lack thereof) in getting the private money you need for your deals is not tactical. It's not a secret strategy, specialized method, hypnotic script or advertising piece.
It's your attitude and beliefs. It's what you truly believe about your ability to get private money for your real estate deals.
But since everyone wants the "secret keys" to success, let me re-frame this for you in a way that'll draw you in ;-)
Whether you agree with me or not, if you can adopt these 5 "secret strategies" as true, I guarantee you’ll kick start your private money getting into high gear.
"Secret Strategy" #1 – There are Plenty of Fish
No matter what’s going on in the economy, there will always be people looking for a better return on their investment dollars. Always.
Your job is to (i) become aware of who they are, (ii) find out where they are, and (iii) position yourself in front of them with the right message.
But they're always out there. Trust me on this.
"Secret Strategy" #2 – You Don’t Need Anyone’s Money
Since there are plenty of fish in the sea, you need to be of the mindset that you don’t actually need any specific person’s money. So when you present a private lending opportunity to someone who isn't interested, you’re that much closer to finding someone who is. NEXT!
Also, think back to high school for a second… Who was it that always seemed to be the most popular, have the most friends and get the most dates? Was it the guy or gal or seemed to need friends? Or was it the one who seemed pretty confident and content regardless?
There's something about giving off the vibe (in a friendly way, of course) that you don't really need someone that actually makes you seem more desirable to them.
"Secret Strategy" #3 – You’re Actually Offering a Legitimately Exceptional Opportunity, Not Asking for Money
One of the big roadblocks that I had when getting started was that I thought I was calling people to basically ask them for money. Not a very empowering mindset to have, is it?
Once I realized this, I entirely re-framed how I thought about the process. I decided instead that anyone I called was actually very lucky to have me contacting them with such excellent opportunities.
This mental shift gave me an empowering mindset that fuels my money-getting to this day. And it can do the same for you.
So take a moment to soak this in: You’re not asking for money from anyone.
It took me a while to realize this… but once I did it was huge for me. You’re presenting an opportunity, and a darn good one at that. Only the right people will take you up on it, and not everyone is "right" for you.
"Secret Strategy" #4 – You’re Not Trying To Convince Anyone
You’re job is to educate and ask good questions.
Whether or not someone is interested, is beside the point. You’re simply providing excellent investment opportunities for the right person.
This keeps you in the reluctant role (which is vitally important). Typically, the more motivated you are, the more desperate you probably seem, and the more disadvantaged you are.
So get it out of your mind that you're trying to convince anyone of anything.
If it helps, think of yourself as Donald Trump, but with better hair. Do you think "The Donald" ever feels like he's on his knees asking anyone for money? Not a chance. He's generously offering them a chance to be a part of whatever money making venture he's got going. That's your approach too.
"Secret Strategy" #5 – Confidence… If You Don’t Have It, Borrow Some From Us
Here at Mogul, we’re your private money mentors. We've received millions in cash from private lenders and have been doing this for many years now. So when a prospect asks about your experience (if you don’t have any yet), tell them that you’re just getting started, but gratefully have highly experienced mentors who have been doing this for years.
Let prospects know that this kind of investment opportunity is quite common throughout the country in real estate investing circles. And that it’s not like you made any of this up. This is a proven system that’s been used by investors as a way to finance real estate deals. All you’re doing is following a proven system that works.
Plus there are a few simple things you can do to be perceived as confident (even if you’re not feeling so inside) – like having good eye contact, a firm handshake, and simply smiling. And when you’re seen as confident in yourself and your business… you get private money much easier and faster.
Let us know how changing your mindset has improved your business or if you're struggling to get out of a rut in the comments below. We love hearing from you!
Go Fishing – Familiarize yourself with the endless supply of people who crave higher investment returns, and position yourself in front of them with the right message.
Understand #1 – Understand that you don’t actually need any specific person’s money.
Understand #2 – Understand that your fundraising efforts are all about contacting lucky people to discuss excellent investment opportunities, rather than a humiliating effort to beg others for money.
Teach & Learn – Rather than trying to convince people to invest with you, focus your efforts on educating them about what you’re doing and asking good questions about what they need.
Be Confident – You have made a wise decision to seek investing counsel from Real Estate Mogul and its faculty members, who have raised hundreds of millions of dollars for real estate investments. This wise decision on your part indicates that you are on the right path for investing success, which should instill a contagious (and vital) sense of confidence in you.
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.