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| The one question that always comes up from private money sources |
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| Written by Ken Spohn |
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2. Your plan should include things like a reputable title/escrow/attorney that have done transaction like this before. Most title companies will even write up the note/mortgage for you. Make sure you know what to look for in the note/mortgage. Beware, these are boilerplate documents and can have verbiage in them that could burn you in the end. 3. Have a PowerPoint presentation or at least a script. A 15 minute professional looking presentation can do wonders when recruiting new private money sources. Always look professional. Remember first impressions are hard to forget. Showing up in ripped jeans and a T-shirt will probably not get you the money you are looking for. The key is learning what and what not to say in the presentation. Someone that says they need to think about it is probably confused and a confused mind will always say no. Say “I understand you want to think about it. Which part do you need to think about?”. Ken Spohn |
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