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Three sources of Private Money [video]

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Press “PLAY” below to hear Patrick Riddle explain three great ways to get private money for real estate deals in your own backyard.

Click here for a FREE (longer) video presentation from Patrick about finding active Private Money lenders in your area.

Patrick has been a full-time investor since he dropped out of college almost 7 years ago as a broke but motivated “kid” to pursue investing in real estate full-time.  After a few failures…  losing thousands of dollars on his first two investments… he figured out that relying on conventional financing, hard money, and splitting profits with partners just wasn’t working for his real estate business, and his pocketbook.  So Patrick started to study, apply, and hone his skills on getting private money, sales, persuasion, and more.  In the last 6 years Patrick has closed over 127 “no money down” (or very little of his own money on some deals) real estate deals ranging from flips, wholesales, rehabs, multi-family, and buy and hold… and was able to get over $6 million in other peoples money (aka private money) actually funded into deals over that time.

Patrick invests out of Charleston, South Carolina and has become well known in Charleston in the investor community and is always glad to help other investors see the same success with getting other people’s money, for very low interest rates, with no points or excess fees.

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  • Tcbelle

    Been there done that. RE Investment club is a downer here. BNI ‘s here are locked up.
    And the public records search anyone can do via their county website is difficult unless you know what terms to look under and there are hundreds

  • Anonymous

    Hey Tcbelle,

    I used to think that my RE investment club was a downer too. I “heard” that you could make a lot of great connections, find deals, find private lenders, etc… but I was getting zero results.

    So, I decided to change my strategy… and as I tweaked my approach, how I presented myself, how I build relationships, how I presented opportunities with my company… I started to get better results.

    I’ve been to many REIAs around the country, and it’s always the same crowd. There are people there who believe in real estate, aren’t currently making good returns on their investment dollars, and are looking for an easy way to make money in real estate.

    Thus, great prospects for lending private money.

    On your comment about BNI, if the “real estate investor slot” is filled at a few of the local chapters… you could look outside of your immediate area.

    … or focus on other good networking groups/organizations to meet people who are good private money prospects…

    How about foreclosure auctions? tax sales? rotary? chamber of commerce? small biz association? charitable events?

    There’s private money ALL around you… every day. Because most people aren’t satisfied with the returns they’re getting on investments today.

    Here’s a tip for researching public records…

    Learn how to navigate your local county website and find the “document search” feature. Depending on your state, search either “mortgages” or “deeds of trust”. That will pull up a list of transactions where you can begin to search for private lenders.

    If you want to find reasons why things won’t work for you, you’ll always find ‘em.

    If you’re not happy with the results you’ve been getting, it’s time to change. Try something different.

    Success starts with you.

    - Patrick

  • teressa

    Thank You Patrick,

    That is good information, BTW, what is your new approach to the REI guys? Can you delineate?

    Also are you able to do your county search for cash buyers?

    Again, thanks for all this valuable information. This is very helpful.

    Teresa Boss
    Investor

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