Here’s A Great Private Lending Resource…

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Hey, I was on the phone last week with one our Private Money Blueprint members, Michael Mackay, and he shared a great private money lending resource that he uses… that helps him build credibility with his lenders AND handles a bunch of the detail work after he closes a private money deal.

The video is only a couple min… check it out…

Toss your thoughts, questions, and whatever else is on your mind in the comment area.

Happy Investing!

- Patrick

Tags: patrick riddle, private lender resource, Private Money, private money for real estate, private money for real estate investing, private money lender, private money lending, private money resource
Posted in Real Estate Investment Financing Strategies, Tips and Tricks | No Comments »

How Part-Time Investor, Tim Ryan, Closed A 42-Unit Deal With None Of His Own Cash Or Credit

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Hey, I was on the phone with Private Money Blueprint member, Tim Ryan, and he was telling me about a 42-unit deal worth $3mm bucks he closed.

It’s amazing how far Tim has come since joining forces with us back in May ‘09.

A few short months after implementing the PMBP system and processes, he sent me this message…

——

“Several months ago I was spinning my wheels trying to close a single family with a bank… earlier this month, I closed on a 16 unit deal, a 2 duplex deal, and another duplex deal REO – with private money. My net monthly cash flow is $2000!

Thanks guys because I know this is just the beginning.”

——

Yep, it was just the beginning Tim :-)

From spinning his wheels trying to close a single family deal through a bank… to closing multi-million dollar deals.

And get this…

Tim hasn’t used one dime of his own money to acquire any of his properties. To finance the 42-unit, he put a simple ad online and got $560k in private money!

I asked Tim if he would hop on the line and share exactly how he’s finding and funding his deals… and he said “YES!”

And as I’m sure you can imagine… the interview kicked some serious butt! Our Private Money Monthly members loved it.

Here’s just a sample of what Tim covered:

* How to get Realtors feeding you “pocket listings” (great deals that other people aren’t finding)

* Tim’s secret ingredient (it starts with a “P”) to getting private money

* How he used a pre-payment penalty to his advantage when negotiating the 42-unit deal

* The exact ad that Tim used to find $560,000 in private money AND a credit partner (swipe and deploy this into your biz)

* The unconventional method Tim used to find the PERFECT resident property manager

* and much more!

The good news for you is…

We record all of our live monthly trainings and I uploaded the video in the member’s area :-)

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Not a Private Money Monthly (PMM) Member Yet?

= = = = = = = = = = = = = = = = = = = = = = = = = = = = = =

To get access to this recording, you have to be a PMM member… but right now, when you take a measly $2.95 test drive in PMM, you get 4 of our training programs… FREE!

>>> Become a PMM Member, Get 4 Training Programs, & Access The Interview w/ Tim Ryan <<<

Heck of an offer if I do say so myself (but there’s a reason for that… just click the link and I’ll explain).

Oh yeah and btw, this is a PART-TIME thing for Tim. He has a full time gig, is married, and has 3 kids.

So no “I don’t have time” excuses.

You can do this.

- Patrick

P.S. – Check out this pic of Tim with his wife and son outside of his new 42-unit deal…

Congrats buddy… from the entire PMBP family!

We’re proud of ya :-)

Tags: investing in apartments private money, patrick riddle, pmbp, Private Money, private money blue print, Private Money Blueprint, private money for apartments, private money lending, private money monthly, private money multi family, tim ryan
Posted in Marketing, Property Management, Real Estate Investment Buying Strategies, Real Estate Investment Financing Strategies, Tips and Tricks | No Comments »

How To Overcome The #1 Private Money Objection

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I was reviewing the recordings recently from our epic 3-day “Getting the Money” Bootcamp and came across some powerful info I want to share with you. It’s from one of my presentations called, “Deal Structuring, Advanced Psychology, & Negotiations.”

What stops most investors from getting private money for their deals?

… the #1 objection private lenders have.

This is something you have to overcome whether you’re brand new to real estate investing or are a seasoned veteran.

If you’ve been unable to get private money for your deals so far, you’re about to learn why… and more importantly, what to do about it.

Learn how to handle the #1 objection that investors face to get private money in the video below…

Join the conversation in the comment area.

Let me know what’s on your mind, what questions you have, how I can help

Happy Private Money Getting!

- Patrick

P.S. - Just an FYI, if you didn’t make it to our epic “Getting The Money” event last year…

… I have good news for you :-)

We decided to release the recordings of the whole event (all 3 days of the pitch free event) sometime this or next week. If you want me to reserve a copy for you, let me know.

Tags: borrow private money, getting the money, getting the money bootcamp, patrick riddle, Private Money, Private Money Blueprint, private money lenders for real estate, private money lending, private money objection, private money objections
Posted in Real Estate Investment Financing Strategies | No Comments »

Do You Need A Business Plan To Get Private Money?

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Hey, as you probably already know, I’m an avid reader.

It’s been said, “You’re the same person you’ll be in five years except for the books you read and people you meet.”

Well, I take that to heart… and always have a good book at my side.

A couple weekends ago, I dove into Burn Your Business Plan: What Investors Really Want From Entrepreneurs, by David Gumpert, and came across some enlightening private-money-getting info that I want to share with ya.

I’m always looking to hone my techniques, strategies, to sharpen my knowledge and skills (and you should be too!)

I took notes on key insights I learned from the book and put my thoughts and feedback on how to apply them into a 4-page PDF for you to download.

What you’re about to learn will surprise you because most of the business planning gurus out there teach the exact opposite.

Is A Business Plan Necessary To Get Private Money?

Here’s just a taste of what you’re going to learn:

* What you should be doing to jump start your biz INSTEAD of writing a business plan

* Your absolute FIRST order of business when seeking investment capital, aka private money  (I’ve got your back on this one ;-)

* What Cheryl Marshall, a principal in a Boston-based venture capital firm, looks at when considering an investment… this is NOT what you think

* What you can learn from Frank Carney, founder of Pizza Hut, about starting your REI business

* What to say when a potential investor asks for your business plan (if you don’t have one)… this covert strategy puts your investor right where you want ‘em!

* and much more!

>> Click Here To Download Pat’s Notes On Burn Your Business Plan –  Key Insights On Getting Private Money <<

Enjoy :-)

- Patrick

P.S. – One of the BIG benefits of being a subscriber here is you get to leverage my research as your own. I spend hours every week on my education studying the roots, so that you can just pick the fruit.

I’ve extracted the most valuable info and insights… so make sure to download my notes before you go.

Tags: burn your business plan, business plan, business planning, david gumpert, do I need a business plan, do you need a business plan, how to get private money, patrick riddle, Private Money, private money lending, real estate investment capital, what investors really want
Posted in Business Management Systems and Tools, Real Estate Investment Financing Strategies, Tips and Tricks | No Comments »

Will This Law Change Your Business?

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Hey, I want to share a law with you that fundamentally changed my biz and life… forever more, for the better.

A long long time ago, waaaaaay back in 2004 (lol… I’m only 30 years old), one of my mentors let me in on this… and it’s a good thing.

You see, after my first year investing, I knew something had to change. The financing techniques I had used (conventional financing, hard money, parters) just weren’t working for my goals, my needs.

So I decided to get private money.

But after trying and failing… getting “no” after “no,” I almost quit.

Then I learned a law from my mentor that completely changed the way I approached getting private money.

It gave me confidence and belief in myself that I didn’t have before. If you had more confidence and belief in yourself and business, don’t you think it would be easier to get private money?

You bet it is.

Will This Law Change Your Biz?

Alright, here’s what my mentor shared with me that changed my biz and life forever… he said that when you do something often enough, a ratio will appear.

I know that probably doesn’t sound like a big deal, but stay with me.

That’s the law of averages.

In baseball, they call it batting average.

Step up to bat, swing 9 times and miss. Then on your 10th swing, you get a hit… and the law of averages kicks in.

And here’s why that’s HUGE…

Once a ratio starts, it tends to continue.

Step up to bat 10 more times and chances are you’ll get another hit.

Think about it… if you’re new to getting private money, it may take you 10 appointments to get your first private lender… but then you can expect to get another one from your next 10 appointments.

And guess what?

With repetition, your ratio can be increased.

In baseball, hit 3 out of 10 and they’ll pay you millions of dollars!

Strike out 7 times and get paid millions.

Not bad, ehhh?

The problem with most people is that they’re unwilling to step up to the plate at all… or after they swing and miss, they quit!

Sorry but that doesn’t cut it.

In order to put the law of averages to work for you, you’ve gotta keep swinging, keep setting up appointments to show your private lender PowerPoint presentation, keep spreading the word about your opportunities.

And once the ratio appears, all you have to do is meet with ”x” number of people, and you’ll get another private lender.

That simple law gave me the confidence and belief to keep swinging… and it will do the same for you.

- Patrick

P.S. – If you’re wondering, the mentor I’m referring to is Jim Rohn – America’s Foremost Business Philosopher. This lesson came straight from him… the man, the myth, the legend.

I wrote a post on the PMBP blog that has a few of his videos on “How To Have Your Best Year Ever.”

It’s really good stuff.

P.P.S. – Also, a BIG congrats to Tammy Reoch of La Habra Heights, CA!

Tammy got her second private lender on board this past week. And get this… he wants to “start” with $300K – $400K.

Whoohoo! Nice work Tammy!

Just another one of our Private Money Blueprint members easily getting private money in today’s market.

Tags: jim rohn, law of averages, patrick riddle, Private Money, Private Money Blueprint, private money powerpoint, private money presentation
Posted in Cool Stuff, Personal Development | No Comments »