The video discusses how someone can get private money loans to use on property investment. It involves using several strategies. Many potential property investors don’t know anyone in their families or lives who would put up money for them to make such investments. The exciting news is that many lenders are willing to help these entrepreneurs.
The main objective of a person seeking such a loan is to establish a sense of trust in the lender so that the lender is confident that it will get its money back.
One tip the speaker mentions is to be professional. The individual must thoroughly show that he or she is serious about the venture by showing up with a good business plan. Having a well-thought-out business plan will put prospective lenders at ease about the individual’s reliability.
The speaker also recommends that the individual open an LLC for protection. However, he also recommends that the individual offer the lender protection on its assets personality. Promising to pay back the loan personally will show the prospective lender that the person is serious and is truly in the game to win it. It’s crucial to pay the private lender back even if some money is lost on a deal.