Imagine buying a great property with none of your own cash, funding it with someone else’s money, pulling up to 60% of your profits out in cash on the day you buy, collecting more cash when it’s occupied and then enjoying a predictable and reliable positive cash flow each month. Now imagine doing this… every month! That’s what you can do when you use advanced strategies for raising millions in private money for real estate investing.
The most important factor when you’re looking at getting started raising millions in private money for real estate investing, is to get started right and to get started right now- in that order. No one can MAKE you start raising millions is private money for real estate investing, but at least I can help you put together the plan to get started right by helping you find the money and find the time you already have right now to find it in.
If you’re looking at getting started raising millions in private money to fund your real estate investing, you want to make sure you can find the money and find the time needed to do it right.
Print this article out and honestly complete the 2 exercises for yourself, and you’ll be on your way to doing just that!
First, you want to find the money.
Let’s help you to take stock of your existing financial resources. The answers to these questions will determine exactly what types of real estate investing you want to pursue.
Don’t worry, whether you’re a multimillionaire or middleclass, or even a homeless guy with no job, there are ways to build wealth in real estate-by raising millions in private money to use for your investing. But, before we get to that….Just answer these questions for yourself and you’ll be well on your way to determining the best way for financing your plan.
This first exercise will help you determine what kind of money do you have on hand to invest in real estate. Where will any needed down payment money come from? What kind of financing can you get?
You may even realize one or two sources of cash you can tap that you might not have thought about using (these will be in addition to the strategies I’ll cover in raising millions in PRIVATE MONEY from other folks)
1. Personal Checking Account $__________________
2. Personal Savings Account $__________________
3. Pension/401k Fund (withdraw) $__________________
4. IRAs/Roths (withdraw/borrow) $__________________
5. Stocks/Bonds/Mutual Funds (sell) $__________________
6. Credit Card Total (cash advance) $__________________
7. Home Equity Lines of Credit $__________________
8. Friends & Family (who has money?) $__________________
9. Cash-Accrued Insurance Policy $__________________
10. Other Sources to Raise Capital $__________________
That’s your money and you should use it in addition to or before you worry about raising private money.
Raising private money comes down to building relationships with people who have money. And that takes TIME and trust! I can’t teach you how to build trust in a 1000 word article. But I CAN help you find more time to do these things so that you can start your plan of raising millions in private money to you’re your real estate investing business.
So, secondly, you want to find the time.
Let’s help you to take stock of your existing time usage. The answers to these questions will determine exactly what types of real estate investing you want to pursue and what things you may need to “give up” to implement your plan of raising millions in private money for investing.
Don’t worry, whether you’re a busy entrepreneur or a regular working-man, have a family or just have many time commitments, there are ways to build wealth in real estate.
Just answer these questions for yourself and you’ll be well on your way to finding the time you need for your plan to get started now in real estate investing.
This second exercise will help you determine where your time is going each week, in some cases time spent on things you might possibly could do without- and will help you find time that you could likely be using to learn about and do real estate investments.
You may even realize one or two ways you spend more time than you thought, just by being honest here!
1. Watching television #hrs/wk: ______________________
2. Surfing the web (with no purpose) #hrs/wk: ______________________
3. Reading “fluff” (no educational value) #hrs/wk: ______________________
4. Sleeping more than 7 hours/night #hrs/wk: ______________________
5. Working (primary job/business) #hrs/wk: ______________________
6. Working (second job/profession) #hrs/wk: ______________________
7. Household chores (cooking, laundry etc) #hrs/wk: ______________________
8. Shopping for fun #hrs/wk: ______________________
9. Pursuing hobbies (non-investing) #hrs/wk: ______________________
10. Chatting on the phone/internet #hrs/wk: ______________________
If you’ve completed these simple exercises, congratulations!
Time and money might be the most wished-for things in the world, but few people ever take stock of what they already have (even those who wish for more, like folks who want to raise millions of dollars so they can invest in more real estate).
Whether you found more money than you thought you had, or more time than you realized you could use to invest and learn about investing, you’ve already discovered something powerful about yourself.
You’re a person who goes after what he/she wants.
Now that you have taken stock of your existing financial resources, and existing time usage, you’re ready to get started raising millions in private money for your real estate investing.
You’ll also need to (if you’re not yet investing) need to now determine exactly what types of real estate investing you want to pursue, what techniques you want to use, where and how you want to invest, and what kind of investments make you most excited.
Trust me. If you have found the time and found the money you already have…you’re already half-way there to getting started raising millions in private money for your real estate investing.
Ready for the next step?
It involves showing others how to do the exercise you just did (you DID do the exercise, didn’t you?) to “find their own money” and then GIVING THEM A REASON to give you that money to invest!
I’ve got plenty of other articles on how to do just that and one you should read is titled “How to Find Investor Partners and Private Lenders for Your Real Estate Investing”. You can just search for that phrase right here on the site, or through your favorite search engine. Find that article and read it next for the mechanics of FINDING and building RELATIONSHIPS with folks who can help you in your quest of raising millions in private money for your real estate investing.