Creative Real Estate Investing | Real Estate Investing | Must Know Investing» Private Money

Here’s A Great Private Lending Resource…

Patrick Riddle — Fri, 23 Sep 2011 18:58:58 +0000

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

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

Patrick Riddle — Thu, 25 Aug 2011 14:57:46 +0000

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 :-)

How To Overcome The #1 Private Money Objection

Patrick Riddle — Thu, 18 Aug 2011 13:38:48 +0000

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.

Do You Need A Business Plan To Get Private Money?

Patrick Riddle — Wed, 03 Aug 2011 13:12:00 +0000

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.

Will This Law Change Your Business?

Patrick Riddle — Thu, 14 Jul 2011 13:15:22 +0000

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.

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How To Get Private Lenders Referred To You Weekly

Patrick Riddle — Fri, 10 Jun 2011 16:07:22 +0000

Wouldn’t it be valuable to get fresh private lenders referred to you on a weekly basis?

Heck yeah it would!

Well, now you can… because I’m about to reveal the source that PMBPer, Rob Russell, used to get not one, not two, but 3 private lenders in a matter of months.

And best of all, you don’t need to be wealthy, earn a master’s degree, or have influential friends to take advantage of this.

To learn how to tap into this private lender referral source (just like Rob did), watch the video below…

If you have any questions, toss ‘em in the comment area.

Happy Private Money Getting!

- Patrick

P.S. – Don’t believe you can really get private money for your deals in today’s market? Don’t take my word for it, check this out.

Advanced Private Money Training: The “Diagnosis” Technique

Patrick Riddle — Thu, 24 Mar 2011 13:36:14 +0000

Alrighty, I have a new video for ya… an advanced private money getting technique.

Just like a doctor diagnoses his or her patients, you should be diagnosing your private money prospects.

In this tutorial, you’ll learn not only “why”… but specifically how to diagnose your prospects and get more private money more easily.

Average investors who try to get private money (key word “try”) don’t do this… which adds to the reason that they’re average.

Check out the video below to learn the “diagnosis” technique…

Makes sense, doesn’t it?

Now that you know the power of the “diagnosis” technique, it’s time to put it to work for you.

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

Happy Private Money Getting!

- Patrick

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Why Are You A Real Estate Investor?

Patrick Riddle — Sat, 12 Mar 2011 18:37:15 +0000

Before I dive in here, if you’re wondering where in the heck I’ve been, I’m not surprised. I haven’t been posting nearly as much over the past few months… whew, just been super busy.

I’ve had a few BIG projects on my plate that have been consuming my time… editing/updating the entire written manual of my Private Money Blueprint system for 2011 (releasing the new version in a couple weeks), just took on a new group of Platinum coaching clients, working on a few new deals, among other projects (can’t let the cat out of the bag yet on these… top secret stuff :-)

Anyway, I’m still here… and am going to get back on track posting awesome content and resources consistently for ya.

Now for today’s post…

“Why are you a real estate investor?”

Are you an investor because you want to replace your income and quit your 9 to 5? or you want to be your own boss and do what you want, when you want? or you want to make your millions and retire to the good life?

All of these are great reasons to invest in real estate. BUT…

… what if we took it one step further… and looked not at “what’s in it for me”… but “what’s in it for others”?

What if we focused on how many people benefit from what we do as real estate investors? What if that was the motivating force, our “why”, for being an investor?

I can tell you from experience… when you focus on helping other people, when you focus on truly serving others, magical things happen.

Seriously.

When you help enough people get what they want, you’ll get what you want (I think Zig Ziglar said that).

I got an email recently from PMBPer Bryan McClaskey which spawned this post… because he recently closed his first private money deal (whoohoo! congrats Bryan!) and made a list of all the people who benefit when he does a rehab deal with private money.

Here’s an excerpt from the email he sent me:

- – - – - – - – - – - – - – -

1) the seller gets rid of their property

2) the seller’s bank gets a non-performing asset off their books (assuming it’s a short sale, in foreclosure or an REO)

3) the real estate agent(s) make a commission

4) the local economy… all the contractors and suppliers get paid for work on the rehab

5) the neighborhood… the neighbors are happy to see an ugly house that was bringing down neighborhood turned into a pretty house

6) the buyer wins by getting a safe, clean, affordable home

7) the private money investor gets a good return that they can’t get from the traditional market

8) and last but certainly not least… I make a nice fair profit in the process

I found my calling! my purpose! just the thought of helping all those people keeps me awake at night!

- – - – - – - – - – - – - – -

I love it Bryan! That’s the mindset that breeds success, that breeds wealth!

Thanks for letting me share your email with everyone here.

Alrighty, that does it for now.

Get out there in the REI trenches and go help some people :-)

- Patrick

P.S. – Bryan sent me another email because he thought of more people who benefit from his transactions… “the buyer’s lender, the appraiser, the buyer’s home inspector, the pest control company, the insurance agent.” Nice!

P.P.S. – Can you think of anyone else who benefits from your deals? If so, toss ‘em in the comment area.

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3 High-Impact Places to Find Private Lenders Now

Patrick Riddle — Fri, 06 Aug 2010 19:54:19 +0000

Let’s face it …

Some places are better (and easier) to get private money than others.

So, you’re probably wondering, “What are some of the best places to easily find private lenders?”

Great question.

Over they years, I’ve been to TONS of different network meetings, events, and conferences, and have figured out the high-impact (or power) places to get private money.

… and you’re about to discover 3 of these places in the video below.

So, grab a pen and pad because class is in session. Prepare to get schooled.

3 High-Impact Places to Find Private Lenders Now

Click below to watch the video now (fyi – this video was for our Private Money Blueprint blog… but I wanted to share w/ y’all as well)… Enjoy :-)

So, now for your homework …

Pick out 1 of these places, set a date to attend, and do it. Action is the key here.

So, networking is a GREAT way to get private money. And is the primary way that I’ve gotten most of my private money ($6 million plus).

But, as I mentioned to you at the end of the video …

=> How many of you want to get private money without networking?

=> How many of you don’t have family and friends with extra money to fund your real estate deals?

If that’s you, we’ve got somethin’ for you too.

Check out this brank spankin’ new in-depth presentation on an old (but little known) private money getting method that we’ve perfected over the last 8 months.

I have a feeling you’re gonna like this!

Talk soon,

~ Patrick

… aka P-Rid

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3 Private Money Lenders in 49 Days – Shae Bynes Gettin’ it DONE!

Patrick Riddle — Tue, 29 Jun 2010 12:37:43 +0000

How would having private money – cash funding to buy property – help your business right now? Would that change everything for you? Would that open up an entire new realm of opportunities?

Well, it did for one of our Private Money Blueprint students.

Shae Bynes, of Good Faith Investing, has created what we like to call, “Private Money Momentum”. And it’s a beautiful thing!

It ‘took her a minute” (in her words) to get private money … but once she roped in 1 private lender, it only took 49 days to get 2 more.

We chat with our students a good bit through Twitter and Facebook. Check out her tweet below about getting her first private lender …

And exactly 49 days later, Shae updates us over on Facebook …

A quick shout out to Mike Henninger, of The Tattooed Investor, for saying, “PMBP rules!!!”

Thanks dude :-)

Big Congrats to Shae for following the Blueprint and getting private money.

If you want to connect with her, here are links to her Facebook and Twitter.

Catch ya later,

~ Patrick

… aka P-Rid

P.S. – If you’re still struggling to close deals in today’s market because you don’t have a way to finance your deals, plug into the Private Money Blueprint System. Many other smart investors already have.

** These private money results are not typical. The “average” person doesn’t take any action, and therefore, gets no private money.

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