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And neither can you.
After all, few distressed sellers can wait for a bank loan to fund. From time to time, I get emails from overconfident real estate investors who heard me lecture at a real estate conference and then jumped the gun. Excited by the benefits of private money, they ran to their friends and relatives for loans, only to be snubbed. When tested with specific questions, they stumbled.
Why gamble away your hard-won relationships? Lenders need to trust you to complete your renovations, make timely loan payments if there are any , and pay off the loan balance as agreed. To come across as credible and competent, you must be ready to answer all of their questions. You see, when attracting private lenders it is not the wild west.
There are some basic rules you need to follow. As real estate investors we are not allowed to mislead private lenders. That would be considered fraud.
Alan Cowgill on Pooling Private Lender Funds - Kindle edition by Alan Cowgill. Download it once and read it on your Kindle device, PC, phones or tablets. When you pool money from private lenders, you're putting funds together from two or more different private lenders. You obviously need to look at doing.
There are also some basic rules to follow. Most of my students started out as average investors. But once they got hold of "The Premium System" , some of them raised private money and monopolized their local markets. My favorite part is their amazement at how easily my techniques work. Now, I want to be clear that some of my students use my system to hold a low-cost luncheon with potential lenders, and other students use it for one-on-one meetings.
So "The Premium System" is very versatile.
And if you decide to register with the SEC, then even more tools open up for you to advertise to strangers. The Premium System is intended to help you find private lenders among folks that you already know like I did with my mom and also among strangers once you are in SEC compliance. This manual also shows you: This awesome tool will blow your mind… and save countless hours of your time.
It features the tools that I have created; from my postcards and mailers to my newspaper ads to my proven slide PowerPoint presentation 26 forms in all. When you get "The Premium System" , you will receive access to this forms website via a web address and registration code. You will need to complete the personal profile information and, in a matter of minutes, you will have all of this at your fingertips… completed for you… ready to use… with your information from the profile you created: How is this possible?
By completing the profile, with one click of your mouse, all of my personal and company details are deleted and yours are inserted in the exact same place in all the forms at the same time. You can update your profile anytime or download the forms individually or all at once in a format that can be altered to your computer where you can update them at your convenience. Then you will plug in the day 3-touch rule described in "the Premium System" to get to where you can ask them to loan you money.
These are the same magnetic tools my students use to generate non-stop phone calls from people with money. You can mail callers my Audio Business Card Package detailed below , meet with them one-on-one, or invite them to a luncheon presentation.
With these last two approaches, my compelling PowerPoint presentation gives the entire sales pitch for you. You just click forward from one slide to the next! Of the three methods, my favorite is giving luncheon presentations. You can also set up one-on-one appointments and show my PowerPoint presentation on your laptop.
This is what half of my students do. You Get These Tools as Well: You might wonder how I came up with this participation form. So my prospects just ate lunch and left. To get this solved, I consulted with a high-priced consultant. With this soft sell approach, they happily tell me how much money they want to invest, and how soon. This CD is your first step when you get this system. I will personally guide you through the system and give you step-by-step instructions on where you should start, focusing you on the things that will get you up and running: My goal is to keep you from struggling with this aspect of private lending and to get you started on the right foot.
Take my premium system with you anywhere you go. These audio CDs will transform you into a private money master.
He is not a Realtor, but a Private Investor. Many of my students are basing their compliance on the exemptions in their states that are similar to the one in Ohio found under 3 H: To come across as credible and competent, you must be ready to answer all of their questions. These testimonies are obviously created by the same person who writes all the other content. Then you can be the judge.
You get 6 CDs that include a recording of a live seminar, an audio of me interviewing my office manager on preparing for a luncheon Luncheon Checklist , an audio of me answering student questions Alan Answers Questions , and an audio of me presenting my PowerPoint slides Luncheon Presentation. These audios cover the full gamut of obtaining private lender money, such as…. On my Luncheon Checklist , my office manager and I walk you through my planning secrets — what I do behind the scenes — to make sure that my luncheons are very well attended presentations.
Here are some of the highlights: On the "Alan Answers Questions" audio CD, you can hear me having a conversation with one of my beginner-level students: I answer questions he had in the early stages of his start-up. On the "Luncheon Presentation" CD, you will hear me present my powerful slide presentation at a live luncheon.
Listen to how I explain the documents that secure loans, the process and my exit strategy, how I pay, how I determine the value of the house, information about my company, and the options that are available to them. How would you like to attract private lenders like bees to honey?
Well here is my most powerful marketing tool. Plus, mouth-watering examples of how much money your lender could earn. Plus, a license to reproduce everything. But before I drop you into review city, let me introduce you to my mentor James. Once you know who he is I invite to read until your eyes bleed if you like… I invite you to read every word I wrote from the research I did, and it was a lot.
Alan Cowgill is a real-estate investor who has become an expert in the area of finding private lenders to finance real-estate deals. His seminars and products teach new and seasoned investors how to find private investors while keeping in compliance with SEC Securities and Exchange Commission regulation.
In creating this system, I wanted to be crystal clear on what you need to do to stay in compliance. Cowgill spent 17 years working in another industry before venturing into real estate investing. His focus is small multi-family and single-family properties in Springfield, MO, where, according to one review, he has acquired over properties since He started writing books and educating other investors at least as early as , when his book How to Get All the Money You Need to Buy Property came out.
Since then he has added 25 additional titles to his offering of books on Amazon. Most are only available as downloads. Prices vary from ten bucks to forty bucks. Cowgill knows his stuff, if quantity of materials produced is any indication. Check out a few his books on Amazon:. On his website, Cowgill has a whole array of products for purchase. They mostly state that the material was more basic than the buyer expected. One reviewer of the Private Money course wrote: I hate to be the voice of dissent — but the course is VERY basic. It says, hit up your current network — friends, family, etc.
I got the course so I could utiilize his presentation. Like many other REI gurus, Cowgill also hosts live seminars around the country. The interest rate starts. However, it may take a couple months to renovate the house and find a buyer or rent-to-own tenant. So the cash flow from the property will not even start for a couple months.
In addition, when you sell the house the lender gets a bigger chunk of money to lend back to you for your next project. One private lender per mortgage The 1 question I get from all over the country is "can I pool lenders money". The answer is maybe. You cannot "pool" lender's money unless you fill out some paperwork with your state. So, if you need more funds to purchase and rehab a property, then the 1st lender the one with the most money gets a 1st mortgage on the property and if you need more money to rehab the property, bring in a 2nd lender and they get a 2nd mortgage position.
They are your "Bank" and they get a mortgage lien on your property. You take possession of the property in a land trust and you get the deed. The lender gets a mortgage. These are the two key documents on any real estate transaction. Actually, you can have as many mortgages 1, 2, 3, 4, etc. I keep my word I follow my agreement with each lender exactly. I run my business with integrity.