How to Attract Private Money Lenders

By February 3, 2015 July 11th, 2019 Expert Tips

Flip Tip Summary

Need a tip on how to attract private money lenders? Most do it all wrong. Daniil Kleyman shares a simple, but powerful tip with us in this Flip Tip…don’t miss it!

Flip Tip Transcript:

Mike: Hey, it’s Mike Hambright with and we have a quick VIP tip to share with you from Daniel Clayman, who’s going to share a tip on how to attract private money lenders.

Daniel: The mistake that I see everybody make is when they go out looking for money, they approach it from a position of weakness. They have something that they need. They’ve got this great deal that they need funded. I don’t know how to politically say this. Nobody cares what you need, right. When you’re approaching people, the only thing that they care about is why they should partner with you, why they should do business with you. What is it that you bring to the table?
So if you re-position yourself in terms of being a deal maker, being able to solve people’s problems, being able to bring to the table ability to source deals, ability to structure deals, ability to bring different parties to the table, whatever that may be; contractors, inspectors, that’s a huge skill-set. And if you go out and you position yourself as somebody that has that skill-set and is able to then maybe take all of someone’s money to partner up with you, that completely reverses the power equation.
I see very few people do that. I see just a ridiculous amount of people struggling to get money and attract money into their business. But if you make that mental shift and position yourself as somebody that can solve people’s problems, it’ll make all the difference in the world.

Mike: Thank you for joining us for another FlipNerd Flip Tip.

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Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.