One of the biggest questions we get is “how can I find private money?” This is a complex question, because not only does it involve strategy, but also crucial mindset shifts. On today’s show, we’re bringing in an expert to walk you through the process of getting private money, step by step.
Austin Rutherford is a 7-figure real estate investor who has done over $15 million in private money deals. On this episode of Investing in Real Estate, Austin is walking you through his exact strategy. You’re going to learn where to find private money, how to talk to lenders, and so much more!
On this episode you’ll learn:
- How to ask for private funding.
- The importance of educating your lenders.
- Where to find private lenders.
- Plus, Austin’s exact script for landing the deal!
How to Ask for Private Funding
Austin explains that in order to get private money, there’s a huge mindset shift you must undergo. When searching for funding, you are not asking for money. Instead, you’re presenting an opportunity. There are people out there who have a lot of money just sitting in bank accounts, or tied up in other low performing investments. Many of these people know nothing about private money, and Austin says it’s a disservice to not educate them on how they could make higher returns.
The Importance of Educating Your Lenders
Since many potential lenders don’t know about private money, you have to be prepared to answer a lot of questions. You’ll need to know how to educate your lenders on how to access their funds, how they are protected, and why private money might be the best option for them. Educate yourself first so that you have the opportunity to educate your private money partners.
Where to Find Private Lenders
If you want to find private money, you have to put yourself in situations with people who could potentially have funds available. Meetups are a great place to start, but this is also something that you should have in the back of your mind as you live your life. Instead of going to a dive bar, perhaps you could go to a country club. Sit at the bar and make conversations. Most importantly, remember that you are presenting an opportunity.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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