|
|
| Posted By |
Discussion Topic: Constant "teaching"
|
|
Meg_Kelly_CA |
10/27/2008 @ 2:03 PM
|
|
|
Member
Posts: 6
Joined: 10/27/2008
|
I would love to hear about your success in getting private investors. How did you ask? What were their concerns? Do you have a business plan to share with them?
I'm with Rosie in that I won't use a hard sell approach - which doesn't work at creating great long-term relationships. I'm exploring more of a "teaching", "high-touch" model that lets me be an expert who cares about the success of others.
What have you found to be successful in that way?
Meg 661 350-8396
|
|
Brian_Gibbons_NY |
|
12/14/2008 @ 9:56 AM
|
|
|
Member
Posts: 1
Joined: 12/14/2008
|
This is a terrific question, the "high touch" of getting private lenders.
First of all, what is your model of making money in REI? SFHs? Small Apartments?
If you had 1 mill to 10 mill, what would you invest in?
If flipping the way to go, or rehab and hold-lease out?
What is your access to syndication advisors? CPAs and Attorneys?
Are you in the SDIRA (self-directed ira's) arena for Private First Mortgages for
SFHs?
If you read the following, you will be in better position to talk to someone
considering Private Lending to RE Investors:
Syndications, Real Estate Limited Partnerships, et. al I Found this extremely
helpful:
Principles of Real Estate Syndication
by Samuel, K Freshman (Author)
Lastly, Al Aiello, CPA has taught me more about taxation
of real estate than most:
http://www.dealmakerscafe.com/cart/catalog/Albert-Al-Aiello-orderby0-p-1-c-10.html
All this takes time for the RE Investor. Teaming up
with a small group of REIs in finding, acquiring-purchasing, managing, etc. and
learning private money on the side is probably the best way to go.
And, lastly, SEC Regulation of Private Lending is an
important issue. Disclaimers on all marketing materials are VITALLY important.
An example:
This is not a public offering. This is not an offer or
invitation to sell or a solicitation of any offer to purchase any securities in
the United States or any other jurisdiction. Any securities may only be offered
or sold, directly or indirectly, in the state or states in which they have been
registered or may be offered under an appropriate exemption.
And, you need to be able to present to a group of people and
have letters of recommendation that you are honest and trustworthy.
One of my favorite sayings is:
"I say what I mean, and mean what I say. I give
assurances that the mutual fund brokering houses can not give."
I hope this helps you.
Remember, you can not play the game of real estate investing
without private funding. Not anymore anyway.
All the best,
Brian Gibbons, ]
This message was edited by Rosie_Nieto_CA on 12/18/2008 @ 12:15 PM
|
|
alvin_reyes_CA |
|
12/18/2008 @ 6:29 PM
|
|
|
Member
Posts: 2
Joined: 09/16/2008
|
hi meg,
i just bought Alan Cowgill's course on private money. i plan on going through friends, family, and acquaintances first. then i plan on doing post card mailers to get 1 on 1 meetings and then eventually do lunch and learn presentations. im currently working on my presentation and the FAQ's to answer the objections.
i will be doing a quick business plan based on the entry and exit strategies as well as the marketing and proformas.
i think the key to make this work in CA is to get the private money lined up which will you plenty of confidence to make offers to REOs, then its up to you whether you still want to wholesale it, rehab and retail it or do owner financing for a few years and let a tenant/buyer make the interest payments to your private lenders.
overall, i want to use private money to purchase REO's and then do EHT's right afterwards to maximize the investment
i have an SEC attorney that will be reviewing my advertisements and presentation to make sure im within the SEC rules. ive read that its pretty simple to register within the SEC state guidelines. i think its about 3-4 pages just to let the state know you're one of the good guys/gals.
i bought Alan's course for like $225 shipped. i believe it retails for like over $3,000. check on ebay for some used courses. i plan on reselling this course after im done with it.
|
|
Matt_Malouf_CA |
|
11/25/2009 @ 8:44 AM
|
|
|
Member
Posts: 6
Joined: 11/25/2009
|
Just be honest and be yourself, tell potential partners what you are doing, why you are doing it and how they will benefit working with you, that's all. No business plan needed, it's just an over hyped way to sell software.
Also just be careful with the SAFE Act coming through next year as it can and will complicate things.
|
|
Discussion Boards Home
|
|
Home