“Show me the money!” (Cuba Gooding Jr. “Jerry McGuire”)
So you want to Buy Buy Buy but…
You need money for the Real Estate deal?
You don’t have money to complete a deal?!
or maybe … You’re not sure where to even start?
If you are looking for money in San Diego you are in the right place.
Everyone is always worried about the money.
That’s because not having money is one of the main issues investors run into when getting into this business.
Money is generally a major motivating factor in getting into investing in the first place.
That’s because if you had all the money you wanted, you would likely not be an active investor, you may be passive (putting money into a deal), but not active.
So you need money to do a deal, but don’t know where to look-
Well hold onto your hat because your mind is about to be blown.
There are TONS of people and companies that want to give you their money!
Money is the LEAST of your problems.
Seriously – Finding deals is ALL you need to focus on.
If you have a good investment deal there are lenders and individuals lining up out the door and down the street- fighting to put money into your project.
However these “money angels” won’t line up out the door and down the straight to put money in your pocket for just any “ol'” investment
It MUST be a Good, Profitable, and Reasonable project (more on this later).
So Where Do You Find These Money Angels?
They are everywhere.
But you need to realize that they are looking to make money with you.
These “money angels” are actually called partners and lenders in Real Estate world.
And the very best way to find partners and lenders is to go to Real Estate networking events and make the rounds. Shake hands, meet and greet.
If someone is a lender they will let you know what you need- to get setup with them.
A few places in San Diego to meet lenders in person are:
- San Diego Real Estate Networking Group (SDREN).
- San Diego Creative Investors Association (SDCIA),
- For Investors by Investors (FIBI)
Each group offers a different way to meet other investors, lenders, Realtors, Title Reps and many many more real estate pros.
You can build your entire Real Estate team through these groups.
These are just a few of the several groups I personally attend…
But there are more Real Estate groups than I can name. Just do a quick search on Meetup.com or Google and you’ll see what I mean.
So you now know 3 places to go to find this money but..
How Do You Qualify For This Money?
First things first, the key to this type of investment, known as hard money in most cases, is you DON’T qualify.
Yes- you read that right- you do not qualify for the loan- the property does.
How does a property qualify for a loan?
There are a few parameters that qualify the property:
- What price are you buying the house for?
- What will it take to fix the home?
- What will the home sell for when done?
It is that simple- lenders are truly just looking for basic information.
This is how a lender will determine if this project is a Good, Profitable, and Reasonable project.
This all being said it is important to “Sell Yourself” and the property/project when you present the deal to a lender.
That means that you must;
- Know your comps
- Know your repairs
- Know your buyers
- Know how to present your data
Profitability is key for any lender in a deal.
They need to know that you will make money because if you make money they will make money- so your success is key.
In order to show them your data- you will need to analyze all aspects of your deal.
You can do so with this DEAL ANALYZER from Better Tomorrow Group.
Where Else Can You Find Lenders Besides These Groups?
Well if you are a Better Tomorrow Group VIP member we will provide you with the money for your deals.
You just email us your deal, and we’ll run through it with you.
But if you’re not a member and you end up needing more money or need lenders that can help fund your deals even further…
…There is no need to look any further than your own network.
You probably already know someone who has money that can invest… in fact- as you are reading this someone is probably even popping up in your head.
Have you approached them about it?
If not, why not?
If you can’t sell yourself then why should anyone invest with you?
You need to get out of your own way and believe in yourself.
To help get out of your own way do this exercise I did years ago when I first got started:
- Open your phone
- Go through ALL your numbers
- Call everyone who has money and could be interested in Real Estate investing.
- Then chat with them about your plan.
Several, if not most, will not be interested, but the few that are interested will be all you need!
Get out of your comfort zone and start raising money!
You need to wrap your head around the fact that people who have money like to invest their money to make more money- rather than just leave it in a bank account.
That’s how they stay wealthy.
The only question is if they want to invest with you and in Real Estate. It’s your job to convince them.
The best way to do that is to have a property under contract with your data put together.
You can present your deal right away to them to let them know you are serious.
People talk big game all the time, but when it comes down to it they can’t “walk-the walk”.
Putting a deal in front of them right away will let them know you mean business, and you can walk the walk.
So get out there and start finding deals.
Move up the food chain and start moving up in the world.
Once you have a property under contract you will have a certain # of days to find funding (you put a protection clause in the contract), and if you can’t find funding you can legally cancel the transaction with no punishment.
You have no risk to get property under contract when working this way.
(Quick plug- Inside Better Tomorrow Group VIP access we give members everything they need for success in Real Estate- funding, contracts, marketing systems, flip systems and much more…)
Did you find that useful?
If you still want more information and want to dive deeper into this Real Estate investing world start by CLICKING HERE
Get started right now and good luck out there!
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(NOTE: BTG members are provided funds for deals)