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Educational Seminars How To's Private Lenders Videos

Attracting Private Money with my Elevator Pitch

I hope you liked my private money elevator pitch video. Please leave some comments in regards to what you thought of it. Do you think it will create interest? Do you think it’s too long? Is it good, bad, or what? Thoughts or ideas to make it better?

Thanks!

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Direct Marketing Campaign Educational Seminars Goals and Planning Kids Makin' Offers Multi-Units/Apartment Buildings Private Lenders

Finding Private Money Lenders



Private Money Lenders and finding them is generally a big deal for most, if not all investors. We all want to know “how do we get the private money lenders?” Right? Because if we have the private money lenders then we have access to cash and we can make more cash offers and get more deals accepted but more importantly with this private money source at our finger tips our confidence is higher as well!

Well Kathy and I were in Boston, Massachusetts last week for a Private Money Lender seminar. We spent all day Wednesday, Thursday and Friday with Dave Lindahl for his Private Money/Syndication Bootcamp. (It was $2997 for those who are wondering.)

Anyway, with the bootcamp we got his private money course in hard format prior to going to the bootcamp. I had read it before getting there and we got new, different materials when we arrived. I’ve been to many real estate seminars before and as always, one of the best parts about the seminars is the networking with like-minded folks. It’s just awesome.




Besides that tho, we were hoping to find some private money lenders at the bootcamp hehehe Didn’t happen yet, but we’re still hopeful that some of the contacts we made may be private money lender worthy lol We learned a great deal at the bootcamp and the big thing there was syndication. Syndicating your deals so you can get paid an acquisition fee from your private money lenders at closing. It was super interesting and confusing as well. There was an SEC (Securities and Exchange Commission) attorney there speaking for a day and a half explaining the rules and regulations. What you can and can’t do, etc.

Overall, I really liked the Private Money/Syndication Bootcamp. At the end we had a strategy session with one of Dave’s coaches (of course they try to sell you the coaching program i.e. $8,000 to $10,000) but we don’t have those funds at this time but the coach spent an hour with us (it was only suppose to be 20 minutes) and gave us a great deal of information and action steps to take.

Kathy and I have been talking about the need for a coach/mentor and we’re thinking of going with a gentleman that was referred to us by someone who I met recently from Scott’s Struggling Investor blog. I plan on giving this fella call and chatting with him a few times to see if he’ll be a good fit for us.

I’m super psyched to hit up some private money lenders….or folks that I feel have the potential for being private money lenders for us. We are still practicing our pitches (I practiced mine while laying in bed last nite, while driving home last nite, while in the shower this morning and while driving to my mom’s this afternoon!) I also practiced it on some lady in a New Jersey Turnpike Service Area bathroom lol I did awful by the way….but better to screw up with her then someone I really don’t want to screw up with, right?

I said to Kathy, “I just practiced on that lady.” She said “I know, I heard you.” I said, “I sucked.” Kathy said “I know, but that’s ok.” lol

We got a lot going on right now. 2nd direct mail campaign is out, already getting calls (no fax backs yet tho) and we’ve got a whole lot of action items to tend to and that verbal offer I made?? Remember?? Well the broker told me that he’s trying to get the seller to see reality and thinks he could get him to my price within 3 to 4 weeks. Yikes I say! Not because I’m scared (well maybe a touch) but because we actually saw the property #1 (which it’s in a C area and is a C property with lots of deferred maintenance) but #2 because I messed up when I was figuring out the numbers and the offer should have been way less 🙂 You live and ya learn right?

Luckily, I called ChrisBuysApartments and asked him what to tell the broker so I don’t sound like a complete idiot. Thanks Chris!

Moving right along…a lot to do and oh yeah, Kathy’s away this entire week and I have the kids. And Joe…oh my gosh, has shit to do all this week…baseball then karate then baseball then karate. I swear the only day he doesn’t have something is Monday. Oh and to top it all off he has a religion project due for school lol Definitely my strong suit, right? (For those that know me, know that’s sarcasm!)

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Direct Marketing Campaign Finding Apartment Buildings Multi-Units/Apartment Buildings

$34,317.01 and Direct Mail Response Rate



Are you wondering what my direct mail response rate has to do with $34,317.01? Well at this point in time..Nothing. 🙂 That 34k figure was how much it cost for me to be in the hospital from Feb. 6th at 7pm to Feb. 9th at about noon. Crazy, huh?

I’m certainly glad I was on Kathy’s insurance at that time….now I’m officially on my insurance, which isn’t as good as Kathy’s work insurance, but it’s a whole lot cheaper.

Anyway, back to our direct mail response rate. We’re STILL getting calls from our direct mail piece that we sent out in January. We have just under a 4% direct mail response rate on that last batch of letters to buy apartment buildings.




I delivered our current mailings to our neighbor and I’m waiting for her to get them all stuffed and ready to go. I’m trying to improve our direct mail response rate with this batch so I included a fax back page. Dave Lindahl suggests this and says that it improves his response rate generally by 50%!!!

Basically, it’s a form that let’s them fill out their information instead of calling me directly. You know how some folks don’t like to talk on the phone? I figured it was a great idea because of that simple fact. So now they can either call me directly or fax me their info. I’ll keep you posted on my results.

I’ll post the form itself just in case you guys want to “steal” it from me and use it in your next direct mail campaign. But there is a catch….if you use it and it works, please come back and tell us about it. Fair enough?

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