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

So, you may be thinking, “what are the best highest impact places to easily get private money?”

In a moment, I’m gonna share 3 of these places with you in a video I just shot for ya. .

So, get out your pen and pad because class is in session. Prepare to get schooled.

3 HIGH IMPACT Places to Get Private Money Now

Watch the video NOW!

So, now for your homework …

Pick out 1 of these places and GO! Set a date for when 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.

So, keep your eye out soon for a 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.

You’re gonna LOVE this!

Talk soon,

Patrick

P.S. – What other spots have you found to be HIGH IMPACT places to get private money? Be a giver. Share ‘em in the comment area.

I’m coming at ya with more from my Private Money Millions Series (have you checked out Part 1 yet, “How to Explode Your Private Lending Program w/ a Newsletter” … if not, do that first) …

Referrals are like getting private money handed to you on a silver platter and are extremely POWERFUL. Getting referrals puts you on the fast track to unlimited funds for your deals. How?

Let me explain …

To sell anyone anything (in our case, selling a private money prospect on the idea of lending us their investment funds), there is typically a process of converting a prospect’s mindset from unmotivated and skeptical to a motivated buying mindset … let’s call it the “buying process”.

A cold prospect – someone that you do not know nor have any relationship with – begins unmotivated and skeptical. The process of converting them over to a client is MUCH more difficult than say a warm prospect or referral because you start with absolutely zero rapport, credibility, and trust.

A warm prospect – someone you know and have a relationship with – starts further along the “buying process” than a cold prospect. There is already some rapport, credibility, and/or trust inherent in the situation since you’re not Joe Blow off the street who they’ve never heard of.

Warm prospects are the easiest place to start in your private money getting efforts, and, once you get going, getting referrals literally opens up the flood gates of private money to your business.

One of the big reasons why is that the rapport, credibility, and trust that the referral has in the referrer is transferred from the referrer to you and your private lending program. Thus, eliminating in many cases the skeptical mindset that keeps people from lending to you or even meeting with you in the first place.

So, your referred prospects come to you as far along in the “buying process” that the rapport, credibility, and trust (that was transferred over to you) takes them. I’ve had private money referrals where all I did was show up to have a check handed to me. No presentation, no questions, no objections.

Now that’s the POWER of a referral!

So, the next question would be …

How do I Ask For and Get Private Money Lender Referrals?

There are two specific times in the private money getting process that I like to ask for referrals. Below, I’m gonna tell you when to ask and exactly what to say … I’m gonna give you exact scripts that you can immediately “plug and play” into your business.

1. Ask for referrals once you’ve presented your Private Lending PowerPoint presentation, followed up with the prospect with several lending opportunities, and they still haven’t jumped on a deal with ya.

At this point, you’ve established a relationship with the private money prospect, BUT, for whatever reason, the prospect hasn’t jumped on a deal.

Here’s what you want to do …

After you pass the next deal by the prospect, if they say, “No thanks,” say …

“Well, I understand. Even though this is a great investment opportunity, I know that it’s not right for everybody.

Would you even like for me to continue contacting you with these opportunities?

(if yes) … Ok, then it’s obvious <Insert Prospect’s First Name> that you understand why our lending program makes sense, why it makes sense to invest with us …

I’m not sure if this is you, but … who do you know that may be interested in an opportunity like this? … you know, a great investment opportunity …

(at this point, specify how many referrals you want and name off any groups, organizations, etc that you know the prospect is affiliated with)

<Insert Prospect’s First Name> let’s see if we can list 3 people if … that’s ok with you … people from your church or neighborhood, people that you work with or who attend Rotary with you?”

And then, pick up your pen, look down, and SHUT UP.

No matter how long the silence. Do not say a word.

2. Ask for referrals once you’ve borrowed some dinero from a private lender AND you’ve either made several interest payments to them or you’ve paid them off in full.

Depending on how you structure your private money loans, it will depend on how soon after signing up a new lender you should ask for referrals.

Personally, I do not like to ask a new private lender for referrals until they’ve seen actual results, until they’ve received interest payments or been cashed out in full (if the interest accrued until the loan was paid in full).

So, imagine having a private lender who has been in your program long enough to see and feel some results.

Call ‘em on the teléfono (yep, just added another word to my Spanish repertoire) and say this …

“Hey <Insert Private Lender First Name>, this is <Your Name>, did I catch you at a bad time?

(if no) Great. Well, I wanted to ask you a few quick questions about your experience with our investment program. Would that be ok with you?

Thanks. I appreciate it.

First off, how has your experience investing with us gone so far?

(if their experience has been enjoyable/positive, focus on asking additional questions that get them talking about those benefits and then say …)

I’m glad to hear that <Insert Private Lender First Name>.

Well, who else do you know that may be interested in an opportunity like this? … someone who would also enjoy <Insert the Benefits the Prospect Mentioned>  …

(specify how many referrals you want and name off any groups, organizations, etc that you know the prospect is affiliated with)

Let’s see if we can list 3 people if … that’s ok with you … people from your church or neighborhood, people that you work with or who attend Rotary with you?”

And then, you know the drill …

Pick up your pen, look down, and SHUT UP … (or in Spanish) … Cierra La Boca!

No matter how long the silence. Do not say a word.

With your new list of private lending prospects, strike while the irons hot! Set aside time the next day to set up the formal appointment.

Hasta luego,

~ P-Rid

P.S. – Stay tuned for more action in the Private Money Millions series … Part 3 “The Secret Sauce to Get to ‘YES!’” coming soon.

With the SIMs system, its 2 parts.

1. The training on how to use the internet to put your lead generation into overdrive (great training, best I’ve seen on generating leads online for a REI biz)
2. The OpenRoad3 software that I walk you through below that automates pretty much all of the actions you need to take to generate leads online and serves as your online
database, CRM, and lead generating software.

Anyhow, check out the video walkthrough below… it’ll show you what I like, what I hate, what elements are cool, what SIMs lacks, and how to fill those gaps that SIMs has.

Enjoy

SIMs 2.0 & Open Road3 Full Walkthrough Review

The SIMs Open Road3 software review is extremely detailed… I walk you through EVERY aspect of the software (but I did forget to show how the software will analyze your deals for you, blast your properties to social media sites, fax your offers for you, and other features I forgot to go over… ) in the video demo below and it’s a solid 50 minutes long.  But, if you’d rather hop on a webinar Wednesday evening to have the SIMs guys give you a full demo of the software live… here’s a link to go sign up for that live demo webinar thats Wednesday at 6pm PST (9pm EST).  No hype… just a full demo of what SIMs does.

>> Here’s our link to invest in SIMs if you feel its right for you <<

Our SIMs 2.0 Bonuses If You Feel Its Right For You

>> You Must Use This Link To Get The Above Bonuses For Investing In the SIMs Partnership Program – First 10 Only <<

How To Get Your SIMs 2.0 and Open Road3 Software Bonus

Okay, like I said in the video review… SIMs is a great piece of software and training and a great tool for those who don’t have the time or expertise to set up your own online marketing campaigns.  I myself don’t need SIMs, I already have the knowledge and team setting this stuff up for me… but I realize not everyone has that luxury.  If you’ve decided SIMs is right for you to help you automate and grow your business so you can focus more time on having fun, making money, and spending time with your family… and you want that missing link that SIMs doesn’t provide (the private money… they give you a squeeze page but not much on the marketing)…

… now all you have to do is choose which package is right for you.

If you want the true turn key solution… where we actually find the private lenders for you… go w/ the SIMs Partnership Program (which they are saying will likely fill up Wednesday because they have actual manual labor on their end to implement everything for you).  It’s not cheap… but, that one bonus where we’ll find YOU private lenders IN YOUR AREA FOR YOU and give you our 7 part “Private lender magnate” autoresponder email sequence to plug into your SIMs sytem is worth 10x the investment in SIMs alone… not to mention the other bonuses and the actual SIMs software itself.

So, here’s what you need to do:

1. SIMs opened up Tuesday 7/13 at 12:00 PST EST (9:07 am PST)
2. Use our affiliate tracking link below so they can track you as our customer (if you don’t use the links on this page you WON’T get our bonus.
3. Select a SIMs package and buy it
4. Send your receipt to support [at] privatemoneyblueprint [dot] com and we’ll put you immediately into the bonus group for whatever SIMs package you choose
5. We’ll get a hold of you with the details on the bonus (remember, only the first 10 get the “done for you” Partner bonus. As long as this message is still up… there are still spots left. When all 10 spots are filled we’ll immediately put up a “sold out” note on this page).

>> Go Here Today To Get SIMs 2.0 <<

*We’re of course able to offer this great service and these great bonuses to you because we got a special tracking link from SIMs… and they do give us a commission when you use our links to buy. However, to provide a ton of value to our subscribers and members… we use a big hunk of the commission money to help you out… and in this case, with the Partner package we’re spending almost $800 out of our pockets to help you cut the learning curve in your REI biz and in “private money getting”.

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 get private money (and you’re at risk of missing out on the greatest time to buy real estate that we may ever see in our lifetimes), 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.

Before I share it with ya …

Have you ever been stumped by an objection raised by a private money lending prospect? or maybe you weren’t stumped, but didn’t get through to the prospect and persuade them to become your private lender. Has that ever happened to you?

Let’s face it. It’s happened to all of us.

But, if you’re sick and tired of letting objections handle you (instead of the other way around), you’re about to learn a POWERFUL technique that can change that.

So, listen close.

How to Use a “Third Party Story” to Smash Objections

OK, let’s say your meeting with a private money prospect, and they find it hard to believe that now is a good time to buy real estate. Most would respond by telling them why it makes sense to invest today, why it is a good time to buy real estate now.

So, it’s you telling them.

A much more effective way to get that same message across is to use a third party story.

Where someone else (a third party) is telling them that it makes sense to invest today.

Frankly, it’s more believable. Because anything that comes out of your mouth, self interest is involved. Not so when it comes out of someone else’s mouth.

Make sense?

So, here’s an easy way to use a third party story to handle the common objection: it’s not a good time to buy real estate today.

And we’re going to bring in billionaire (and arguable the most successful investor of our times), Warren Buffet, to handle this objection for us.

Check this out …

Click here for the entire article.

Let Warren Buffet Handle That Objection for You

Here’s how:

• Plug the pic above into your private lender PowerPoint presentation
• Add it to your credibility kit
• Post it on your private money getting website (if you use ours, this is easy since we built the sites off Wordpress)
• Include the article in your monthly or quarterly newsletter
• Send a link to the article to your friends on Facebook and followers on Twitter with the caption, “If Warren Buffet is buying real estate today, I am too. Check this out <insert link>”.

So, when that objection comes up – it’s not a good time to buy real estate today – tell them you’re simply modeling success. You’re modeling how billionaire, Warren Buffet, invests today.

And that my friend is a highly effective strategy for handling an objection … using a third party story.

Now for the interactive part

= > What other ways could you use this article to get more private money?

= > How and where do you plan on using third party stories in the private money getting process?

Leave your thoughts, questions, and comments before ya go.

Happy Private Money Getting!

- Patrick

Our Getting the Money Bootcamp was an absolute slam dunk (that’s what brought us from our respective sides of the country together).

Check out some of the feedback from attendees:

“The content here was AMAZING – specific, understandable and immediately usable. Thank you!” – Bernadette Davis

“The Getting the Money Bootcamp was not only packed with top-notch, excellent content, but the quality and caliber of attendees made for one of the best networking opportunities I’ve ever experienced. Job well done Patrick, Trevor and Susan!” –Jeremy Crutchfield

“As always, you delivered much more than expected.” — Les Bick

“This is the best real estate seminar I have ever attended.” — Steven Thronbrugh

“This is one of the best seminars I have been to, and I’ve been to a lot! Thank you for 3 great days!” — Kevin Guttman

“Extremely informative and intense 3 day event that will have a surefire impact on any Real Estate Entrepreneur regardless of experience.” — Jamie Matheny

“An outstanding experience that will educate and further the business results of all who attend. Also, the best networking event I have ever experienced.” — Thom Paterson

“Awesome! Demystified those sexy syndications and hedge funds. Thank you! Better than anticipated!” — Denise Eccher

“The best hands down real estate event I have attended. Packed with content, real people who are accessible and truly want us to succeed. This ROCKED!” — Carlton Linder

Happy Private Money Getting!

- Patrick, Trevor, & Tim

by Tim Krulia – Private Money Blueprint CFO

As part of our quest here at PMBP to give you the single best resource on the financial aspects of growing your real estate investing business (aka, we help people find private money quickly, easily, and abundantly)… here’s an article I found that explains the different fluctuations in today’s market and why it’s going to struggle again before getting better…

Four great topics are discussed in this article:
1) Post tax credit prognosis
2) 4 strong negatives dragging on the market
3) What the heck is Detroit doing!?!?!
4) “Shadow Inventory”  Dun, dun, dun!!!

Two friends of mine (newlyweds) closed on their first house on Monday.  They were super stressed out to make sure that they had the house under contract and closed by the specified cut-off dates of the tax credit policy.  They are perfect examples of folks who got up off their behinds and bought now rather than later because of the tax credit expiring.  They had plans to buy a house sometime in the next year or so but jumped now for the $.

Real Estate Market Hangover Effect

The author of this week’s article hits the nail on the head when saying that the tax credit’s effect has “borrowed buyers” from later months and now it’s time for the hangover effect.  Meaning, the supply of buyers was potentially pre-maturely depleted a good bit from our government’s incentive plans leaving the next few months or so to suffer from the reduction of supply of buyers.

The author gives 4 great reasons why the market (although had a great recent short term – thank you tax credit boost!!) is going to start to struggle again.  During the early 2000’s refi-boom, equity in houses was leveraged to the hilt with high LTV and CLTV loans.  When I was originating mortgages, it seemed like everyone and their mother either bought their houses with 0% down payment or opened a second mortgage to super high CLTVs.(i.e. only leaving a small amount of equity in their homes).

In the past few years as home prices fell, many Americans had to stand by and watch as the values of their houses fell below the amounts they owed for the house.  These underwater swimmers are what the author is referring to in the article.  It makes total sense what the author is concerned about and the remedy (well one anyway) is appreciation.  If there is enough equity in a house, it can just be sold if the owner loses their jobs, moves, has a divorce, etc.  If a house is underwater, the number of choices is limited as to what the owner can do and well, we’ve seen that foreclosure has been the poison of choice for the masses the past few years.

Detroit Michigan Real Estate Being Demolished

Detroit, Michigan, ouch……sorry man.  Even as a loyal Ohio born and bred Buckeye it makes me feel awful for what’s going on up there.  It’s just too bad that all those houses might just be destroyed.  Coming from a background of personally overseeing about 50+ real estate rehab projects (and seeing first hand what can be done to bring a house back to life & how awesome that really is to watch), I wish there could have been a tax base in place from somewhere to commission thousands of out of work contractors in the Mid-West to rehab these houses & bring them back to life.  Maybe these neighborhoods have really got into such bad condition that this is really the best route to take.  After watching the video in the article, I sure wouldn’t want to be talking a stroll though some of those neighborhoods at night……or even in the daylight for that mater!

Last, but certainly not least, “Shadow Inventory.”  What a great name for these houses!  I don’t know if the author made the name up for this article or what, but it’s catchy nonetheless.  Ok, but what the heck is the author talking about?  Basically, there are lots of home owners that want to sell their houses, but have decided that they will just stick it out until the housing market comes back first before putting their property up for sale.  Well, logic would lead one to believe that as this lull in the real estate market continues grow in time, there is probably some relatively similar proportional growth of home owners that are falling into this category.

Let’s just say that IF all the markets were doing great again (employment, stocks, real estate, foreign trade, etc.); all the people that wanted to sell their houses would put them on the market and try to get a good sales price.  The problem is simply a supply and demand issue.  Over the past few years the supply has been so much greater than demand that it became a main driver of the prices of homes depreciating in value.

If a huge number of home owners are waiting for a rebound in the real estate market to sell their homes, as soon as they hear that the markets are rebounding it’s a very real possibility that a ton of houses will slam onto the market thus pressuring depreciation again.  The author of the article makes note that if these “Shadow Inventory” homes keep popping onto the market every time things start to look a little better, the supply increase from shadow inventory will pressure the market negatively again and again.  I hadn’t thought of that segment of the market like that before but my parents fit that description to a T.  They are baby-boomers. I wonder how many others in that cohort are standing in the same shoes as my parents.  If it’s a significant number, as I’m afraid it may be, that’s a BIG hindrance on any substantial short-term recovery of the real estate market!

Sing along with me. Here are the lyrics:

I hear a bootcamp’s comin’
It’s right around the bend,
And I ain’t closed a deal,
Since, I don’t know when,
I’m stuck in finance prison,
And time keeps draggin’ on,
But that bootcamp is a-rollin’,
On down to Denver CO.

When I was just a newbie,
My mentor told me, “Son,
You gotta have the money,
Can’t play without the funds,
But I lost a deal in Reno,
to an all-cash guy.
when I saw him make a killin’
I hang my head down and cry.

I bet there’s some folks lendin’,
If the deals up to par,
They’re probably all around us,
If you just know who they are,
Hey Patrick, Susan, Trevor,
Please help me get free,
Because those people keep a-lendin’,
And that’s what tortures me.

Well, if they freed me from finance prison,
If that real estate was mine,
I bet I’d move out over a little,
Farther down the line,
Far from Finance Prison,
That’s where I want to stay,
And I’d let that Getting the Money Bootcamp,
Blow my Blues away.

Hope to see ya this June 4th – 6th in Denver for our Getting the Money Bootcamp.

Patty Cash

I’m not talking about getting up and grabbing an ice cream bar or munching on dinner…

… I’m talking about your hunger for a better life.

Too many people I talk to always say how “bad” they want out of their rut and how “bad” they *want* to live a better life.

But, when it all comes down to it… *most* people talk a good game but deep down inside… like in the pit of your being… aren’t all that hungry quite yet.

Anyhow, my buddy Brendan (he lives up here in Oregon… not to far from me) shot a really great video about becoming successful and becoming THE expert in YOUR area.  Whether it’s real estate… or whether you’re really passionate about something else… if you really want to be successful you’ve got to check out this video.

Great stuff Brendan!

If you’re really hungy about making it in real estate… here’s a little test for you tonight.

Are you struggling to get money to close on your deals?

Yes?

Are you really hungry to get your deals closed (even apartment buildings) without using your own money or credit?

Well… join us for an encore of our “7 Ways To Make Money As A Multi-Family Syndicator and Advanced “Private Money Getting” for 2010″ web workshop w/ the full PMBP team TONIGHT (wednesday) at 6pm PST:

Register here:

https://www1.gotomeeting.com/register/601554112

by Tim Krulia – Private Money Blueprint CFO

As part of our quest here at PMBP to give you the single best resource on the financial aspects of growing your real estate investing business (aka, we help people find private money quickly, easily, and abundantly)… here are some stats I found that helps explain the economic recovery…

If you’ve been following my little weekly article updates the past few months, you’ve read about how I think we as an economy have past our worst days a while ago. The leading indicator is certainly in my mind still the unemployment rate but other contributing factors make me feel stronger and stronger that we’ve bottomed out and are on the up swing. Check out the stock markets:

http://www.nasdaq.com/aspx/chartingbasics.aspx?symbol=IXIC&selected=IXIC

New York Stock Exchange – Last 12 months:

http://www.nasdaq.com/aspx/chartingbasics.aspx?symbol=NYA&selected=NYA

Heck the Dow hasn’t been this high since before it started taking a dive before the 2008 presidential election.  Some say that you can look at the markets and they will tell you where the economy is headed six months or so in the future.  If that’s a good rule of thumb to go by, then we’re in for a good ride for the rest of the year!

Let’s take a peek into the mortgage market.  Interest rates for lending are incredibly low.  The average 30 year fixed conforming mortgage rate is averaging 5.14% this week.  Historically, they say that anything under 8% is good.  These rates are basically the same as back in the huge refinance boom in the early 2000’s.  These great rates may translate into lower interest payment requirements by your private money lenders too.  You could say, “Well, if the banks are only getting 5% for their borrowed funds and I can offer you 8%, that’s pretty good, isn’t it?”

Heck, there are little stories of hope and prosperity popping up all over the place now.  Here’s one that I though was pretty cool.  Florida, arguably one of the hardest hit states from the real estate bust is starting to show signs of rejuvenated real estate life.  Check out this video.

Comments spoken in the video by the builder’s executive includes:  
“Push of 1st time buyers & move up buyers,” “Picking up,” “People are coming down from other parts of the country again,” (meaning – they are seeing home buyers relocating to Florida again which they said hasn’t been the case since a few years ago), “Increased growth.”

Increased construction does translate to increased jobs and thus lower unemployment.  It also shows that there is new life getting breathed back into the real estate market right now!

Here’s our updated unemployment rate chart with March included.

As you can see, our actual rate is holding below the 270 moving average again this month and the Unemployment rate had another steady month holding at 9.7%.  It’s true it didn’t come down this past month vs. Feb. & Jan., but it didn’t increase either.  This marks 5 straight months without the unemployment rate increasing.  We haven’t had that happen since late 2006!  Any month now, let’s expect to see it start ticking downward.  We’re all hungry to read about real economic growth and just wait till the media gets smart to that fact.  They’ll start reporting all the good that’s sprouting in the economy and the avalanche will start!  Who wants to bet me on it?