My business is all about relationships. I have such good relationships with my Private Money Partners I can text them for money. I had a deal where we paid one of our Private Money Partner off and the next day one of attorneys called and asked “we just got $225k wired into our trust account for you…what deal is it for?” I responded’ ” I have no idea.
Because when a deposit is made to the bank it’s labeled as pending and doesn’t tell you what it’s for. So 48 hours later we found out who it was from and I called him and asked why did you wire money? He said “because you just paid me back and I want to reinvest” I said, it just doesn’t work like that. You just can’t just wire money without it being designated for a house I’m purchasing.
So that’s the trust that I have built with my Private Money Partners. When you do this all the time and you take care of your Money Partners, they don’t want the money back. They want to keep it out there working. Because unless they find someone like me they can’t earn a better than average returns with a tangible asset backed collateral for their money protection.
My Money Partners stick with me like glue because they know that they’ll be hard pressed to find someone to be a good steward of their money like I am.
And oh by the way, I teach my Partners how to use a Self-Directed IRA account so that their earnings (profits) are TAX-FREE !!!
********************************* 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 !!!
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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).