It seems that almost everyone in the real estate investing game is chasing after private money lenders these days. It is obvious to see why. Between the speed of closing, lower interest rates and ability to get better terms on deals it is no wonder. Though what makes you stand out from the crowd and why would a private mortgage lender want to do business with you?
You can run direct mail campaigns to high net worth individuals, send out mass email campaigns and flood the Internet with ads. However it is what you provide once they visit your website or you talk to them on the phone that will make all the difference in getting them to work with your real estate investing business.
Put yourself in the shoes of a potential private mortgage lender for a moment and consider what they would be looking for. Certainly a professional look, well thought out plan and some type of track record in addition to just offering attractive returns. Remember that the primary concern of most investors is protecting their capital. Returns come second.
Consider posting case studies or examples of previous deals that your real estate investing business has done. What about creating a Powerpoint presentation that shows them exactly how it works? Those prospects who are new to providing private mortgage lending for flipping real estate now doubt have many questions so think about adding a FAQ page to your website in order to answer them and keep them moving forward.
While you may just be winging it, you must take the time to draft out an actual program to improve the comfort level of potential lenders. You may even find it beneficial to draft some type of proposal and bounce it off of your coach from your real estate education course or several local lenders you know to get their feedback before going to market with it.
