Can You Find Private Lenders at Your Local Real Estate Investment Clubs?
Author: Mike Lautensackbr
Source: ezinearticles.combr
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You cant blame yourself if your real estate investment business is suffering.Everyone is hurting right about now, just as America enters the lowest ebb of its economic recession.The mortgage market in particular is very unstable right now, since not many people want to buy.Additionally, its getting harder for real estate investors to get traditional mortgages.This leaves people like you with only one real option: look for private lenders.Maybe traditional options will open up in a few years when the economy improves, who knows?For now however, you have to go where the peak business is.Private lenders are making up most of the active real estate right now.
The question now is how can you find these real estate investments?Its not as hard as you think.Quite frankly, its probably easier than what youre thinking.A lot of the big entrepreneurs are investing in new or unusual methods these days, like in social networking marketing or newspaper ads.That is a more personal approach to marketing but it can still be challenging nonetheless.
No, were talking about easy marketing as in joining a real estate investment club.You can join a local real estate investment club and start networking with people who have already shown an interest in buying, lending and going into business with the right people.This makes the process much easier because you dont have to sell your business, just your own services.Thus, the added pressure of an elevator pitch, as in selling cold to someone who gives you just a few minutes of time, is gone.These are people that want to hear your ideas and give you the full attention you deserve.
The most important aspect here is networking.If you are a real estate investor and are looking for private lenders to invest in your ideas and great deals then you have to network with others.Not every contact you meet will be able to help you, but you shouldnt discount their value.This person may know a person who can help you.You sever that contact, and you lose that deal.In business it pays to have lots of friends, on the bottom and on the top.
What are the benefits you can expect from joining a real estate investment club?Not only are you invited to various networking events throughout the year, but can also take advantage of real estate publications, organization referrals, discounts and newsletters.In addition, some organizations may provide health insurance plans, national speaker directories, and various tools that help in association development, marketing support, and in introducing federal or state legislation that assist investors.
The entire idea of real estate is built upon communication, so the more people you know, the better off you are going to be.Dont take networking for granted.Just attending one meeting may bring you prospects or possibilities beyond what youve found hard selling for the whole year!For more information look up your local real estate investment club and ask about membership.
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pI invite you to learn more about bPrivate Mortgage Lending/b and get FREE instant access to a 60 minute audio and 20-page eBook titled biDiscover the Secrets of How to Fund Your Real Estate Deals with Private Lenders!/b/i by going to a target=_new href=http://realestatewealthtoday.com/FREE-eBook.html rel=nofollowhttp://realestatewealthtoday.com/FREE-eBook.html/a ./ppbMike Lautensack/b is a full-time real estate entrepreneur in Philadelphia, PA and creator of the bPrivate Lending Presentation Kit/b. This powerful done-for-you kit is loaded with tools and techniques to attract and develop a consistent stream of private investors into your real estate business. To learn more about this kit and receive your FREE Real Estate Wealth Newsletter go to a target=_new href=http://realestatewealthtoday.com/Private-Lending-Presentation-Kit.html rel=nofollowPrivate Lending Kit/a./pbr
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Real Estate Investment Clubs: How To Get Started
Author: Chris Anderson, PhD
Source: articleage.com
Over the last two weeks, we have discussed how being a part of a real estate investment club, or group, can result in exceptional investment opportunities that are not available to individuals.
Now, let's look at the typical path for a real estate investor who is interested in investing outside their local area. Once they learn the approach, now they fire up their Google search engine. Hmmmm, let me see, let's type in Preconstruction. When I did that, I just got 899,000 (literally) web pages that matched that search term. Now, they go through the top 30 or so and learn about all the reasons why you should consider this project, or that location, or be a part of.
I remember facing that scenario about 3 years ago. What I started to notice was that there was a select few groups that got really good projects and the other 98% of the web sites got leftovers. Since I was only interested in finding projects (I had no idea that we would create something like GetPreconstructionDeals.com at that time), I wanted to know why. The answer was very simple.. These real estate investment clubs had substantial buying power so they were getting good deals. So I joined their lists.
Even as part of those lists however, I became frustrated. Why? Largely because I couldn't get the kind of information that I was looking for to make the investment decision. Long story a little shorter, the realization that real estate investment club buying power was very important, and the frustration of not being able to get enough info led to the creation of www.GetPreconstructionDeals.com.
But now that we are on the other side of the fence, with over 15,000 registered investors, we understand soooooooooo much more about what it takes to be apart of a group and get access to truly good projects. Regardless if you work with us or you work with others, let me give you some specific steps you can take to improve your odds:
Find a major group where you line up with their philosophy and then join their mailing list.
Determine, in advance, what types of projects you are looking for and can afford. That way, you know your own criterion.
VERY IMPORTANT STEP: Find other like minded people either that are already part of the big group or are from your circle of influence. What you just did was now created a mini real estate investor club within a much larger group. If you are excited about it, go get your friends excited as well.
Let the major group know that your real estate investment club exists, that you have X like minded people, and are looking for (fill in the blank)_________________________.
Just so you understand why steps 3 &4 are so important, consider our latest project in Tampa. This project has been hugely popular but we had no idea, in advance, if it would be popular or just interest a few. Now, all of a sudden, we have over 200 people expressing interest and wanting calls.. Yikes!
With a tight deadline imposed by the developer, where do we start? We know from experience that many of these 200 will not be serious which is fine. First, we start with our Mastermind Members because we know that they are seriously interested in getting projects.
Next, we then go to members who we KNOW are serious and make sure they get everything they need. Then next, we start with the others in the order they were received.
In contrast, suppose there was a group of 5 like minded individuals that we KNEW were serious about condo conversions in Florida with rent Guarantees. In all likelihood, BEFORE we even agreed to put this project on our web site, we would have been in contact with that real estate investment club asking "what do you think"
Now, suppose that same group then recruited a few more buddies and got up to 20 members in their real estate investment club, all looking for roughly the same thing. Next, they then communicated their interest to us. Of course, that real estate investment club would play a big role in future projects meeting their needs but that is only a small part. Instead, we could then start LOOKING for that project, putting out feelers around the community, etc. Basically, this turns the process around and we now ASK developers for specific projects.
We also understand that in a web community like ours, it is not necessarily easy for you to get access to like minded people. On March 1, on an experimental basis, we are going to try introducing something that we believe will help. We will introduce an investor forum where everybody will be able to interact and hopefully establish some powerful, mini, real estate investment clubs. In addition, there will be several other features of the forum that we believe will spark lots of interest.
We hope that this forum will provide a real estate investment club atmosphere where you can not only work with others but where you can also tell your friends to come visit and participate. In the way that we think and operate, having more, focused investors around does not increase competition but rather substantially increases the ability to get access to very good projects.
Copyright 2006 Chris Anderson
Dr. Chris Anderson is the founder of http://www.GetPreconstructionDeals.com and is referenced in many venues including the New York Times and USA Today. Get his weekly, thought provoking articles by signing up today!