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35794 NYS Route 126
Carthage, NY
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| Price: $395,000 | |
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Unlimited Cash for Real Estate Deals
| | Wednesday, October 05, 2005 @ 09:07 AM EDT
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Contributed by: Jennifer Dintelmann
Jennifer Dintelmann Properties
Read more archived articles about Credit and Finance
If you had more money readily available would you buy more property? It is not only possible, but the people with the money to lend would love to lend it. They don’t need to see your credit, they don’t need payments during the rehab & they would be happy to loan all closing costs, holding costs, purchase price, and rehab money.
Who are these angels? Private Investors. They have money and would love to invest it for a rate of return that beats the c.d. and savings account rates. They, like us, read about how real estate is a great investment and would love to participate if it were something they knew more about. What if you offer them the chance to participate by making money by lending it to you? I can answer that – they are happy to be involved!
How can you find them? It’s the person you don’t think it is. It’s your brother-in-law who drives an old car, it’s the guy who hauls your trash, it’s the people described in the Millionaire Next Door. You don’t even have to know them right now to do a deal using their money next week. You can even place an ad in the local newspaper and find them.
It’s just like anything else. Get your plan together, tell everyone in sight what your plans are and then get ready! I have actually had to tell someone to quit calling, I will call you when I am ready to borrow your money!
Do not hold back from sharing with people. In conversation, this person knows that one, I even had another real estate investor loan me money. Turns out his line of credit was larger than he needed and rather than let it just sit there, he loaned me money from it!
Note: By Jennifer Dintelmann
Jennifer has writen a course on acquiring Private Money for Real Estate.
http://www.cash-for-deals.com
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