This topic is near and dear to my heart. When I started my RE career, I heard about the necessity of finding private lenders. In fact I even found two. But then I stopped. For four years I PROCRASTINATED. I didn't get it!!! For four years I continued to go to banks and jump through their hoops. I also had used hard money lenders, but found them VERY expensive.
It wasn't until I quit my J.O.B. and found that banks wouldn't loan me money that I realized that I needed to bring private lenders into my life quickly.
When I took that step, everything changed for the better.
What are some of the advantages of using private money for your real estate investments? Well, if you haven't decided whether or not to use private money, I decided to lay it on the line here for everyone to see.
Fast & you can buy at a discount
No credit check & doesn't show up on your credit report
Unlimited funds
Control, you set the rules
Help friends, family & meet a great group of people
Get some of your profit when you buy
Cash flow
Flexible
Can make offers with confidence
Can structure quick and more profitable exit strategies
Saves you money
Cheaper than a partner
Fund the purchase of defaulted paper
It is the foundation for a very profitable brokerage business
In this business when a deal comes along you have to move fast. Many investors have watched a deal slip through their hands while they waited for the bank to approve their loan. Once you have private money available, that won't happen to you! You can make an offer knowing you can go ahead and set a closing date. Meanwhile, your competition is wondering how you did it so quickly!
Alan Cowgill is the owner of Colby Properties, LLC. and President of Integrity Home Buyers, Inc. Alan is a full-time Real Estate Investor, investing in single family and small multi-family properties in Springfield, Ohio.
Since 1995, Alan has bought and sold over 200 investment properties. Alan uses Private Lenders, not banks; to fund his real estate purchases. By doing this, he has created his own private bank of $2,000,000 in funds. Alan looks for "Win - Win" situations, where the seller, the lender, and the eventual homeowner can all "Win". He is not a Realtor, but a Private Investor.
Alan has served as an elected official to the Board of Directors for the Clark County Property Management Association. He is an author, consultant and national speaker. He has been asked to speak on the topics of “Investing for the Beginning Investor.” and “Finding Private Lenders.” His home study system, “Private Lending Made Easy”, shows new and seasoned real estate investors how to find private lenders for their own real estate business.
In addition, Alan:
• Holds a BS Degree in Business Management.
• Has over a quarter century experience in Business Management.
• Is a published author not only for Real Estate but also in American Industry.
• Featured in the Business Section of the Springfield News-Sun newspaper in May, 2001. Article on real estate investing in Springfield, Ohio.
• Adjunct Professor for 5 years at Clark State University.
• Acknowledged in the book “e-Mail Basics” ISBN #0-9676313-1-9.
• Speaking Engagements include: Yovel, England; Dallas, Texas; Fort Collins, Colorado; Atlanta, Ga.; Jacksonville, Florida; Cashiers, SC.; Las Vegas, Nevada and Springfield, Ohio.
• Business trainer and consultant.
• Member of the Springfield Chamber of Commerce and Better Business Bureau.
• Appeared on a twenty-eight minute real estate infomercial that is shown nationwide.
And best of all, Alan Cowgill is married and the father of three children.
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Published with Permission of Author.
No part of this publication may be copied or reprinted without the express written permission of the Author and/or REIClub.com.
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