Building a Private Lending Program - How to Use Networking to Get Private Lenders

If you are new to real estate investing, networking is a great way to build your private lending program. Obviously there are formalized networking groups with local branches in your area. I was talking to a student this morning about an international networking group called the BNI group. You can look it up on the Internet. It is an international networking group in all different areas around this country, in fact, all over the world. You can join your local branch.

Become the One Real Estate Investor with a Networking Group

As a general rule, they only allow one profession per area. In each area they only have one accountant, one lawyer, one real estate investor and so on. You can be that one real estate investor. You go to their meetings, you get one to two minutes to talk, and you obviously share that with the rest of the group.

• Do a Presentation: You do a little presentation for one or two minutes and you can go back. Meetings are held on a weekly basis. You keep going back and back again. Eventually, what happens is the accountant will refer business to you. The accountant expects you, at least, to try to refer business back to him. It's again a relationship networking type of thing but it can be very powerful to meet 15, 20, 25 local, high quality professionals in your area.
• Get Referrals: It's a wonderful way to get out there and a wonderful way to get your private lending program off the ground. Referrals are just absolutely, stone dead, a great way to do business. If you know people that are already doing business with you and you can get referrals from them, this is clearly a very powerful way of getting business. Particularly early on, it should be one way that you try to do it.
• Tap Into People You Know: All the people that you know in your various professional lives which includes family, friends, neighbors, past customers, tenants, sellers, buyers, the list goes on and on. All these people are potentially private lenders themselves, or if they're not they might know somebody who is. You need to tap into that network and try to grab into those people, so net referrals is a powerful way of doing it.

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Mike Lautensack is a full-time real estate entrepreneur in Philadelphia, PA and creator of the Private Lending Presentation Kit. This powerful done-for-you kit is loaded with tools and techniques to attract and develop a consistent stream of private investors into your real estate business. To learn more about this kit and receive your FREE Real Estate Wealth Newsletter go to Private Lending Kit.

Download your FREE eBook titled "Discover the Secrets of How to Fund Your Real Estate Deals with Private Lenders"  and learn how to fund your real estate deals with Private Lenders!

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