Having Private Money Partners allows me to purchase many houses because they provide the acquisition funds to the closing table.
One of the biggest mistakes I can make when I accept a Private Money Partner is to assume they know how all this works. They don’t. They’re relying on me as the expert to educate them and walk them through the details.
I completely do this. Actually I believe I overwhelm some of them with the details. Because of the trust factor, most just want a 30,ooo foot overview. However, I’m always communicating with them.
I inform them of how everything is going to work. For example, the funds will be wired to the closing attorney etc etc etc.
I operate at a high level of professionalism which gives my Private Money Partners a greater sense of security.
No monkey business !!!
********************************* If you are reading my blog for the first time, let me inform you that… My company buys single-family houses and I write this blog weekly which is primarily directed to educate 1 group of individuals:
Individuals who are losing their shirt as a result of the “roller coaster” volatility of the stock market and low paying rate of other traditional investments, i.e. people that are looking for an opportunity that’ll provide a secured place to put their money to get it working for them to earn better than average returns.
However, often times, homeowners that need to sell their house, stop by to take a peek because they are curious and wondering how and/or where we get the funding to purchase houses. And if they stick around long enough, they begin to understand why individuals partner with us to provide the funding which empowers us to be able to purchase real estate on a continual basis. Simple, it’s because we teach them a secured way to earn better rates of return than they are currently earning.
So everybody wins. It’s a WIN-WIN-WIN !!!
Request your FREE Education Kit if you are interested in learning how passively investing in real estate may help place you in a better financial position.
Disclaimer: This site is intended for educational purposes only. I am not an accountant, attorney or licensed financial planner. While the information I’m writing here is based on many years of experience buying houses that doesn’t really constitute professional advice (since everyone’s experiences and situations are different).