One of the questions most often asked by real estate investors, especially beginners, is, ďHow can I find private money for real estate investing?Ē In this article I will explore this topic, and outline a simple approach for finding private money sources and building your own team of private money lenders.
First, itís important to recognize that, like most other things in life, finding private money for real estate investing is often more about who you know than what you know. The most successful investors are those who can leverage their existing relationships, and build new relationships with people who are in a position to help them reach their goals
What To Do First
The very first thing you should do in your efforts to find private money to use for your deals is to develop a simple but clear business plan. In two or three pages you should be able to outline your investing strategy and tactics, the profit potential, how much money you need, and how you plan to pay it back.
A good use of private money is purchasing Atlanta apartment buildings for sale.
Next, make a list of everyone you know. This may sound too simple and basic, and you may at first think you donít know anybody with money, but donít skip this step. You may be very surprised at what happens as you search for private money for real estate investing within your circle of relatives, friends, and acquaintances.