Private Money Monthly Insider Interview w/ Wil Christenson

Yo Private Money Monthly (PMM) Members,

Each and every month, you’re gonna get access to an “Insider Interview” where I go behind the scenes with a real world real estate investor who is killin’ it in today’s market.

This month, we’ve got Wil Christenson with us.

To give you a small glimpse into Wil’s life, he…

- works for himself… and has been for over 6 years

- does what he wants, when he wants

- easily gets private money for his deals

- cashes five-figure checks from his real estate deals like clockwork

- and loves every minute of it!

Grab your pen and pad and get ready to take notes. Here’s your PMM Insider Interview…

(this is a “wmv” file… so you’ll need windows media player to view… also, to see the full video, you may need to double click it above)

Congrats on your successes Wil!

… and thanks for sharing those awesome tips with us. We appreciate it.

Important: Be on the lookout soon for info on our next PMM group call. This is where you’ll learn what’s new in getting private money, updates on regulation changes and the SEC , answers to your personal questions, and much more!

Talk soon,

Patrick

… aka P-Rid

P.S. - How can we help you? Leave your comments, questions, and feedback in the comment area before ya go.

Private Money 101: A Crash Course in Private Money

Before we dive right in, answer these questions for me …

= > “Are you frustrated because you can’t get your hands on the cash you need for your real estate deals?”

= > “Are you scared to make an offer for fear that it will get accepted?”

= > “Have you ever lost a great deal because you didn’t have cash to close it?”

= > “Is a lack of financing killing your real estate investing dreams?”

If you answered “yes,” to any of the questions above, then private money may be THE solution for you.

To find out, let’s take a quick crash course in private money … aka Private Money 101.

What is private money?

Private money is cash from an individual that is lent to you, the real estate investor, rather than being invested traditionally through stocks, bonds, mutual funds. When you think about private money, think investment funds from an individual … any individual.

Is private money the same as hard money?

Far from it!

Hard money lenders finance deals for real estate investors as a business. They lend to investors based on the property, not necessarily based on the person. The hard money lender dictates the terms of the deal to you, the investor.

A typical hard money loan has high interest, points, and is short term. For instance, I purchased my second deal with a hard money loan. I was charged 15% interest, five points (or 5% of the loan balance), and had a term of six months to repay the loan in full.

Do you see why they call it “hard” money?

On the other hand, with private money, you dictate the terms of the loan to your private money lender. Based on the deal and your business model, you offer terms that suit your needs and provide a good return for your private lender. A typical private money loan could have 6% to 10% interest, no points, and a term that suits your exit strategy.

What type of properties can you buy with private money?

The primary niche for my real estate investing business is single family homes. But, single family homes are not the only type of property you can buy with private money.

Trevor only buys apartment buildings. He has been investing for several years now and has accumulated a nice portfolio. Each property cash flows well, is managed by a professional property management company, and is in or near his local market.

And how do you think he finances every one of his purchases?

You guessed it … Private Money!

Any great real estate investing deal can be financed with private money; it doesn’t matter if it is a house, condo, townhouse, apartment building, skyscraper, or beach front home.

Do you have to do lender luncheons to get private money?

One of the popular methods taught to get private money is to host a lender luncheon. You would be required to rent a facility, advertise to fill the room, and you would present your private lending program in front of the audience. While I believe this to be a good strategy for some, hosting a lender luncheon is not a viable strategy for most.

Why you might ask?

The number one fear in our country is public speaking. And you know what is number two … death! Most people would rather die that speak in front of an audience. Even if it was easy to get private money by hosting a lender luncheon, the majority of people would not do it.

So the question still remains, “Are lender luncheons required to get private money?”

Luckily for you, the answer is “no.”

I actually found that it is easier to get private money by presenting your investment program to prospects one on one. Plus, you don’t have to spend money to rent a room at a restaurant or hotel, pay for marketing costs, deal with the anxiety of presenting in front of an audience, etc. etc.

What types of people are the best private money prospects?

The first type is people who know and trust you. This could be a family member, long time friend, neighbor, someone from church or school . . . really anyone that you have built a long term relationship with could be a good source for private money.

The second is people who know a good deal when they see one. Anyone who works in a field related to the real estate industry could fit in this category. Examples would be real estate agents, mortgage brokers, bankers, appraisers, home inspectors, attorneys, accountants.

And yet another type most likely to lend to you is the best source of all . . . people who know someone who has invested with you. Or, in other words, referrals! Once you get your private lender base established, ask them who they know that would also like to make a good solid rate of return backed by real estate.

Would my local real estate investing association (REIA) be a good place to find private money?

Yes, it would!

REIA meetings are filled with people who have heard real estate investing is lucrative, want to make money doing it, but do not have the time, energy, motivation, or know how to do it themselves. That’s where your private lending program comes in …

You offer a hands off real estate investment with a good return. Your private lender gets to “invest” in real estate without having to deal with the hassles that come with owning property like repairs, managing contractors, dealing with tenants, and other general property management duties. All they have to do is stroke you a check.

People who attend REIA meetings are already sold on real estate investing, all you have to do is sell them on lending against one of your deals.

How do you convince someone to lend you private money?

You don’t!

That is coming from the wrong mindset. You’re not out to “convince” anyone to lend money to you. Your goal is to educate people about your investment opportunities. If someone is interested, great. If someone is not, next.

Class adjourned. That’s it for your crash course, Private Money 101.

If you have any questions, comments, or additional tips, throw ‘em in the comment area.

Happy Private Money Getting!

- Patrick & Trevor

Why Private Lenders Say “No” And What To Do About It

So, you’re meeting w/ a private money lending prospect. Let’s call him Joe Lender.

You find out that Joe is currently getting a 3% return on his investments. You offer him 6%… and he says “No.”

Why would he say “No” when he could DOUBLE his current return by simply lending you private money?

And more importantly, how do you get Joe to change his mind?

Watch the video below to learn how…

Alrighty, time to take action on what you’ve learned… because action is the big differentiator between success and failure.

… and don’t take my word for it. They all agree.

“Action is the real measure of intelligence.” – Napoleon Hill

“Everything you want is out there waiting for you…Everything you want also wants you. But you have to take action to get it.” – Jules Renard

“The path to success is to take massive, determined action.” – Tony Robbins

Happy Private Money Getting!

- Patrick

… aka P-Rid

P.S. – Be a giver. Leave a comment before you go and give your feedback, opinion, thanks, whatever comes to mind. We LOVE hearing from you guys and gals

Michael Mackay + Private Money Blueprint + One Week = $1.25 Million in Funds Raised

For me, the most gratifying part of being a teaching faculty member at Private Money Blueprint is hearing success stories from students.

And what a success story this is!

Michael Mackay sent us this email update only a week after plugging into the PMBP System…

Sounds like a plan Michael!

See ya at the top

- Patrick

… aka P-Rid

P.S. Are you interested in easily getting private money for your deals? If so, check out the Blueprint. It’s a step-by-step money-getting system that allows you to simply focus on closing deals and making cash profits.

** These private money results are not typical. The “average” person doesn’t take any action, and therefore, gets no private money.

How Tony Aveiro Pocketed A Cool $42,589 Profit While At Sea Using the Private Money Blueprint

PMBP student, Tony Aveiro, has quite the story to tell you today.

Imagine leaving home only to come back to find over $42,000 PROFIT in your bank account.

Wouldn’t that be incredible!?

Well, that’s exactly what happened to Tony.  And he’s here to tell you himself

Click the “play now” button below and listen to Tony’s AMAZING story…

Thanks for sharing with us Tony!

Just another day in the life of a PMBP student.

Happy Private Money Getting!

- Patrick

… aka P-Rid

** These private money results are not typical. The “average” person doesn’t take any action, and therefore, gets no private money.

Tim Bratz – Getting Private Money Through the Internet, Closing Deals, & Making Cash Profits

When you use the right tools and techniques, getting private money is easy.

Sound hard to believe?

Well, then listen close because you’re about to discover the reality… that private money is indeed easy to get, and it’s available to you right now (whether you’ve known it or not).

Take Tim Bratz for instance…

Tim’s a 25 year old kid who didn’t like the idea of having a boss, working towards someone else’s dreams, doing the 9 to 5 thing.

Can you relate?

Tim decided to become a real estate investor and join the Private Money Blueprint Team.

I chat w/ Tim regularly on Facebook (and many of our other PMBP students). Check out the message he sent me below…

Isn’t that incredible!?

Tim said, “… he looked at my website & was interested in lending private money.”

With the right tools and systems, getting private money is easy.

Check out the newest update Tim just sent me last week…

Bravo Tim! Congrats on your success with PMBP!

If you like the idea of walking away from closing with cash flowing properties, putting $6K in your pocket, and using none of your own cash or credit, you may want to check out the Private Money Blueprint Training System.

If you have any questions, toss ‘em in the comment area.

- Patrick

… aka P-Rid

** These private money results are not typical. The “average” person doesn’t take any action, and therefore, gets no private money.

How to Save Time, Make More Money, and Have More Fun

You’re About to Discover…

9 time-saving, money-making tips to help you get more done in less time… so you can have more fun and make more money.

How many of you like that concept?

Well, that’s EXACTLY what will happen when you implement these tips.

I’ve borrowed many of these from Dan Kennedy and his phenomenal book, No BS Time Management for Entrepreneurs. Get the book, consume it, live it.

Watch the tutorial below now…

3 High Impact Places to Get Private Money

Let’s face it …

Some places are better (and easier) to get private money than others.

So, you may be thinking, “what are the best highest impact places to easily get private money?”

In a moment, I’m gonna share 3 of these places with you in a video I just shot for ya. .

So, get out your pen and pad because class is in session. Prepare to get schooled.

3 HIGH IMPACT Places to Get Private Money Now

Watch the video NOW!

So, now for your homework …

Pick out 1 of these places and GO! Set a date for when and do it. Action is the key here.

So, networking is a GREAT way to get private money. And is the primary way that I’ve gotten most of my private money ($6 million plus).

But, as I mentioned to you at the end of the video …

How many of you want to get private money without networking?

How many of you don’t have family and friends with extra money to fund your real estate deals?

If that’s you, we’ve got somethin’ for you too.

So, keep your eye out soon for a brank spankin’ new in-depth presentation on an old (but little known) private money getting method that we’ve perfected over the last 8 months.

You’re gonna LOVE this!

Talk soon,

Patrick

P.S. – What other spots have you found to be HIGH IMPACT places to get private money? Be a giver. Share ‘em in the comment area.

P-Rid’s Private Money Millions Series: Private Money on a Silver Platter

Buenos dias fellow private money getters.

I’m coming at ya with more from my Private Money Millions Series (have you checked out Part 1 yet, “How to Explode Your Private Lending Program w/ a Newsletter” … if not, do that first) …

Referrals are like getting private money handed to you on a silver platter and are extremely POWERFUL. Getting referrals puts you on the fast track to unlimited funds for your deals. How?

Let me explain …

To sell anyone anything (in our case, selling a private money prospect on the idea of lending us their investment funds), there is typically a process of converting a prospect’s mindset from unmotivated and skeptical to a motivated buying mindset … let’s call it the “buying process”.

A cold prospect – someone that you do not know nor have any relationship with – begins unmotivated and skeptical. The process of converting them over to a client is MUCH more difficult than say a warm prospect or referral because you start with absolutely zero rapport, credibility, and trust.

A warm prospect – someone you know and have a relationship with – starts further along the “buying process” than a cold prospect. There is already some rapport, credibility, and/or trust inherent in the situation since you’re not Joe Blow off the street who they’ve never heard of.

Warm prospects are the easiest place to start in your private money getting efforts, and, once you get going, getting referrals literally opens up the flood gates of private money to your business.

One of the big reasons why is that the rapport, credibility, and trust that the referral has in the referrer is transferred from the referrer to you and your private lending program. Thus, eliminating in many cases the skeptical mindset that keeps people from lending to you or even meeting with you in the first place.

So, your referred prospects come to you as far along in the “buying process” that the rapport, credibility, and trust (that was transferred over to you) takes them. I’ve had private money referrals where all I did was show up to have a check handed to me. No presentation, no questions, no objections.

Now that’s the POWER of a referral!

So, the next question would be …

How do I Ask For and Get Private Money Lender Referrals?

There are two specific times in the private money getting process that I like to ask for referrals. Below, I’m gonna tell you when to ask and exactly what to say … I’m gonna give you exact scripts that you can immediately “plug and play” into your business.

1. Ask for referrals once you’ve presented your Private Lending PowerPoint presentation, followed up with the prospect with several lending opportunities, and they still haven’t jumped on a deal with ya.

At this point, you’ve established a relationship with the private money prospect, BUT, for whatever reason, the prospect hasn’t jumped on a deal.

Here’s what you want to do …

After you pass the next deal by the prospect, if they say, “No thanks,” say …

“Well, I understand. Even though this is a great investment opportunity, I know that it’s not right for everybody.

Would you even like for me to continue contacting you with these opportunities?

(if yes) … Ok, then it’s obvious <Insert Prospect’s First Name> that you understand why our lending program makes sense, why it makes sense to invest with us …

I’m not sure if this is you, but … who do you know that may be interested in an opportunity like this? … you know, a great investment opportunity …

(at this point, specify how many referrals you want and name off any groups, organizations, etc that you know the prospect is affiliated with)

<Insert Prospect’s First Name> let’s see if we can list 3 people if … that’s ok with you … people from your church or neighborhood, people that you work with or who attend Rotary with you?”

And then, pick up your pen, look down, and SHUT UP.

No matter how long the silence. Do not say a word.

2. Ask for referrals once you’ve borrowed some dinero from a private lender AND you’ve either made several interest payments to them or you’ve paid them off in full.

Depending on how you structure your private money loans, it will depend on how soon after signing up a new lender you should ask for referrals.

Personally, I do not like to ask a new private lender for referrals until they’ve seen actual results, until they’ve received interest payments or been cashed out in full (if the interest accrued until the loan was paid in full).

So, imagine having a private lender who has been in your program long enough to see and feel some results.

Call ‘em on the teléfono (yep, just added another word to my Spanish repertoire) and say this …

“Hey <Insert Private Lender First Name>, this is <Your Name>, did I catch you at a bad time?

(if no) Great. Well, I wanted to ask you a few quick questions about your experience with our investment program. Would that be ok with you?

Thanks. I appreciate it.

First off, how has your experience investing with us gone so far?

(if their experience has been enjoyable/positive, focus on asking additional questions that get them talking about those benefits and then say …)

I’m glad to hear that <Insert Private Lender First Name>.

Well, who else do you know that may be interested in an opportunity like this? … someone who would also enjoy <Insert the Benefits the Prospect Mentioned>  …

(specify how many referrals you want and name off any groups, organizations, etc that you know the prospect is affiliated with)

Let’s see if we can list 3 people if … that’s ok with you … people from your church or neighborhood, people that you work with or who attend Rotary with you?”

And then, you know the drill …

Pick up your pen, look down, and SHUT UP … (or in Spanish) … Cierra La Boca!

No matter how long the silence. Do not say a word.

With your new list of private lending prospects, strike while the irons hot! Set aside time the next day to set up the formal appointment.

Hasta luego,

~ P-Rid

P.S. – Stay tuned for more action in the Private Money Millions series … Part 3 “The Secret Sauce to Get to ‘YES!’” coming soon.

How Shae Bynes Scored 3 Private Money Lenders in 49 Days

Shae Bynes, of Good Faith Investing, has created what we like to call, “Private Money Momentum”. And it’s a beautiful thing!

It ‘took her a minute” (in her words) to get private money … but once she roped in 1 private lender, it only took 49 days to get 2 more.

We chat with our students a good bit through Twitter and Facebook. Check out her tweet below about getting her first private lender …

And exactly 49 days later, Shae updates us over on Facebook …

A quick shout out to Mike Henninger, of The Tattooed Investor, for saying, “PMBP rules!!!”

Thanks dude

Big Congrats to Shae for following the Blueprint and getting private money.

If you want to connect with her, here are links to her Facebook and Twitter.

Catch ya later,

- Patrick

… aka P-Rid

P.S. – If you’re still struggling to get private money (and you’re at risk of missing out on the greatest time to buy real estate that we may ever see in our lifetimes), plug into the Private Money Blueprint System. Many other smart investors already have.

** These private money results are not typical. The “average” person doesn’t take any action, and therefore, gets no private money.

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