Alan Cowgill is one of the leading experts in the private money space and he teaches people how and when to use private money to finance their real estate deals. Not everyone has access to a bank’s money, so it’s important to know how private individuals can help you fund your real estate deals.
In many ways, private money can be a real win/win/win situation for everyone involved. You can get your deal funded, the seller gets their property sold, and the lender can get a much better return on their money than they would with their existing portfolio.
The process can be very simple, and you don’t need to be a licensed mortgage professional in order to borrow private money. Basically, the private lender becomes your bank and imagine how that can change your life and the way they do business.
Private lenders aren’t in the business to loan money like money lenders, and they don’t ask for your credit report. They loan you the money and wait for a bigger check, trusting you to take care of things. When you raise money in this way there are also other ways to use the money as long as you make sure the lender is protected.
Every once in a while you will need money, and it’s always better to use someone else’s money. Private money can help you get deals that would otherwise be impossible but it’s key that the lender trusts you. When money is a phone call away, you can close real estate deals faster and that can give you a major edge over your competition.
There is one big difference between hard money and private money, hard money is where the lender sets the terms and private money is where you set the terms. Alan has a simple process that he uses to find new private money lenders where the big focus is in the follow up. 60% of your money will come from follow up. Alan shares his proven scripts that will put you miles ahead and can put millions of dollars into your bottom line.