Attracting private money partners is critical to growing your business. Today’s podcast may be one of the most important shows you will ever listen to. My guest today is private money expert Susan Lassiter Lyons from The Investor Insights, and the topic for today’s show is “attracting private money partners”.
The ability to attract private money partners; to raise private money for your real estate investing business, is one skill that has the potential to make your business grow beyond your wildest dreams. Not mastering this skill as you become a seasoned investor may also cause your business to stall or even die a slow death once you reach a certain point.
In the past most folks would start out using traditional financing for their real estate projects. Traditional financing is harder to get today, and in almost all cases the time will come when those financing sources will dry up. You will lose the ability to add more properties to your portfolio through traditional financing. That is why it is so important to learn how to locate and work with private money partners.
Here are a couple of core concepts Susan would like you to understand. First of all, you need to think of these folks as “partners” rather than lenders. They are investing in you in most cases based on your reputation. Sure they are investing in your business; in a property; but how they view you will play a huge part in their decision when deciding whether or not to write you a big check.
Secondly, their values and ethics have to be congruent with yours. You are going into business with these folks so they darn well better have the same core values.
I hope you will pay close attention to what Susan has to say about the “right ways” to attract private money partners.
Get ready to take some notes on this podcast. Here are a few of the things we covered: Read the rest of this entry →