Unlocking Real Estate Success: Raising Private Money

Guest Speaker: Alan Cowgill, President at Integrity Home Buyers, Inc.

In this episode, Lance Edwards explores the vital role of private money in real estate success with expert Alan Cowgill. Alan shares his journey from corporate America to private lending, explaining the difference between private and hard money lenders and offering tips for finding private lenders. He also discusses deal structuring and provides a free e-book for new and seasoned investors. Tune in for valuable insights to elevate your real estate investing game.

Highlights from the Interview:

• Building Relationships with Private Lenders:
  • Long-term relationships with private lenders are beneficial as they prefer to keep their money rolling over into new projects.
  • Trust simplifies the process and encourages private lenders to introduce other potential lenders.
• Finding Private Lenders:
  • After quitting his job, Alan created a 37-slide PowerPoint presentation to explain his program and hosted a meeting with 18 attendees.
  • The approach of talking first and then providing lunch led to high conversion rates due to peer confirmation.
  • Regular meetings resulted in steady inflow of private money.
• Starting Out with Private Money:
  • Alan advises new investors to write down a list of 18-20 potential private lenders without overthinking their financial capabilities.
  • Providing a script and practicing calls helps in overcoming the initial fear of contacting potential lenders.
• Success Stories:
  • Multiple students have succeeded by following Alan’s system, including a student who raised $5 million after initially struggling and another who managed a $22 million property investment.
  • Testimonials highlight the significant impact of Alan’s training on their financial success.
• Educational Approach:
  • Alan emphasizes the importance of education and preparation, encouraging students to practice scripts and participate in bootcamps.
  • His method includes peer critiques and sharing experiences, which enhances learning and confidence.
• Private Lending Mechanics:
  • Alan recommends offering private lenders interest rates slightly above local bank CD rates, suggesting around 8% currently.
  • Private loans are simple, without the need for credit reports or financial statements, and can be arranged quickly.
• Advice for New Investors:
  • Start finding private lenders sooner and build a solid educational foundation.
    • Participating in bootcamps and gaining practical experience are crucial steps.
• Additional Resources:
  • Alan offers a free eBook on private lending available on the podcast’s show notes, providing a starting point for those interested in private money.

Here is the link to Alan Cowgill’s free book “Navigating The SEC Highway” visit https://www.alancowgill.com/navsechwy24

To receive a FREE copy of Lance’s best-selling book, How to Make Big Money in Small Apartments, visit www.FreeApartmentsBook.com