Private money lenders are crucial if your deal flow exceeds your funding. Real estate investors are always in pursuit of the next awesome deal. Once you find that deal comes the second part of the equation:
Funding the deal!
No one has unlimited capital sources. Without funding the deal is incomplete. Real Estate Investors need to actively work on having private money providers to fund their real estate investment opportunities.
Who are Private Money Lenders? A private money loan provider is a non-institutional (non-bank) individual or company that loans money, generally secured by a note and mortgage.
The primary place for new investors to find private lenders is your inner circle of friends & family. Obtaining financing from your inner circle is popular because you can get in front of these people as they already know you. A downside of raising money from your inner circle is that they may not be sophisticated enough to know what is a good deal and what is a bad deal and this can lead to problems. Hence when you take funding from your inner circle by clear about the risks and rewards.
Private money lenders: Farm your warm circle or people who know you.
The best way to explain this circle is to draw an analogy to LinkedIn Connections. Again, you should not spend most of your time finding them and/or introductions
Private Money Lenders: The rest of the world.
These are people you do not know. You will need a pitch book or something showing why you are a viable borrower.
The key question that comes into the mind of real estate investors is how do I find these potential Private Money Lenders? Attend a SWFL REIA meeting!
The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.
Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.
To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.
The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.
We meet twice a month.
One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.
We look forward to meeting you at a meeting soon!
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