How Much Should You Pay Private Money Lenders?

Hey, just shot a new video for you to answer the common question, “How much do you pay private money lenders?”

I walk through a few actual private loans and show you the rates and terms… so you’ll see what other investors are paying for private money.

Also, there’s a BIG lie that many investors believe that holds them back from getting cheap private money. Make sure this isn’t you.

Private Money Lending Rates And Terms

Watch the video below…

If you want to get private money through public records (and grab those bonuses I mentioned that we’re offering right now), check out Private Money On Demand.

Toss your thoughts and questions in the comment area.

Happy Investing!

– Patrick

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19 Comments

  1. Thanks
    Just a quick question. What exactly do you send to the potential private leder when requesting private funding. is there a template or speccail wording needed

    • Hey James, good question.

      When contacting people who you don’t know (like a private lender you found through public records), stay away from talking about your biz and investment opportunities to stay in compliance with the SEC.

      Just focus on getting to know the prospect, their interests, goals, etc.

      In our PMOD training program, we have two direct mail “foot-in-the-door” templates that we use to initiate the first contact… our “friendly meeting” letter and “buyer’s list strategy” letter.

      Once you have have a “relationship” (as defined by the SEC) with the prospect, then you can pass a specific investment opportunity by them.

      At that point, we have a “loan offering template” we use.

      – Ptrick

  2. Hi Patrick…love your program. We’ve been using private money for about 2 years but have come to a point where we needed to get to the next step. I just purchased your PMOD training program and IT IS AWESOME!

    I need a bit more info on the SEC compliance issues…can you share the advertising and letters…I didn’t see how to download??? HELP!

    Awesome…AWESONME!

    robin

    • Hey Robin,

      Glad you’re loving the PMOD training program.

      The SEC training is at the bottom of the member’s area. So scroll down, and you’ll see a “Bonus Modules” section.

      Our two “foot in the door” marketing templates that are SEC compliant are available for download under the core module (the video at the top of the member’s area).

      If you have any questions, email Charity at support [at] privatemoneyblueprint [dot] com … and she’ll be happy to help ya.

      Now go get you some private money!

      – Patrick

  3. Hi Patrick, I was just doing a video similar today but my training video’s, which I use to drive traffic as well don’t come out as clear as yours. May I ask what program do you use? I use Camtasia.

    • Hey Scott,

      I used Screenflow on my mac to do the video. I’ve used Camtasia before when I had a pc and it worked fine too. Maybe it’s just a setting that can be tweaked.

      – Patrick

  4. Hey Patrick,

    First off I want to personally thank you for all of the resources and various other techniques that you have shared with me via these videos & email links.

    Secondly, (not sure if you personally respond here or not, but…) I wanted to introduce myself and extend my contact information to you to add to your network as I am located and operating out of the Upstate SC area. If you would like to learn more or get back in touch with me investor to investor, please use the email address attached to this post.

    Again, thank you very much for the information and I look forward to speaking with you in the near future.

    Best wishes,
    Bernard
    SRES, Inc.

    • Hey Bernard,

      Alright, a fellow South Carolinian. Good to see you on the blog here.

      I’m glad you’re enjoying our content. You’re welcom. 🙂

      Yep, it’s actually me responding here. Thanks for your info.

      Keep in touch man.

      – Patrick

  5. Hi Patrick,

    Please keep the positive outlook and genuine hope flowing our way.
    Sometimes it’s easy to “let life get in the way” and get distracted.
    The posts you share with us are really encouraging.

    May God bless.

    • Hey J, I’ll keep it flowing.

      I appreciate you being a part of the community here. You always leave such thoughtful comments. Thanks man!

      Anytime you have a question, just let me know.

      – Patrick

  6. DEAR PATRICK : I AM SO GLAD I HAVE FOUND YOU , YOU ARE HEAVEN SENT , I WILL PAY FOR THE PMOD COURSE ON MARCH 1 ST . I AM PROUD OF YOUR THOUGHTS OF SEARCHING THROUGH PUBLIC RECORDS TO FIND PRIVATE LENDERS , AGAIN THANKS A MILLION , RAMZY ISSA .

    • You’re welcome Ramzy.

      Sounds like a plan. Once you join the PMOD program, put it into action… and let us know if we can help with anything.

      Happy Private Money Getting!

      – Patrick

  7. I’m also Patrick Thank-you for sharing this video.I,ve been wondering exactly what you just talked about.What do private money investors charge.5-8% is a great deal.I,ve never dealt with private money.I own a 16-unit apt bldg for 4 yrsnow.I bought that with my own money or should i say my Heloc tied to my own property.I listened to you with Susan-Lassiter Lyons and how you got started and you stated how you and your partner used your own $$ and how the money was used all up fast.I want to buy a 26 unit Apt Bldg right here in my area in Palmer,Ma.I need to get private money to do so.How long after you get the private money on demand does it take for you to get the money?I guess it depends on how motivated the person is.Do you have any actual testimonial on how long after anybody bought PMOD program and recieved the $$$.I,m curious of the time frame.Sorry for the drawn out ???.This deal could put me in a position from Leaving my full time night shift job to a 2 days a week .I would appreciate any help Thank-you Patrick

    • Hey, on your question about how long it takes, it all depends on how fast you consume and implement the program.

      You’ll be able to find private lenders in your local area as soon as you study the core module (which is about an hour).

      We have testimonials from students who have gotten private money very quickly… but that doesn’t mean that will necessarily happen on the same time frame for you.

      The most important thing to know is that it works… and even if you don’t have private money available for this deal, line it up for your next deal.

      – Patrick

  8. thanks for bringing this info to all of us , i think you are spot on in the fact this is by far the best way to fund RE deals in todays market and am looking forward to getting further into your material over the next few weeks and months . can you tell me something though,,is the info i need available through the MLS ? I am a licensed Realtor (as of a couple months ago ) and have been trying to find the right way to scan the MLS for good leads as well as private lender leads . is this a tool that you use or is the info outside of the MLS ?

    • Hey Gary, glad you’re enjoying the info.

      The MLS systems around the country are all different. I doubt you can get private lender info through your MLS… but not sure.

      The best source of private lender info that I use is through public records. I show how to use public records to get private money in our PMOD program.

      – Patrick

  9. What other training do you guys have?

    I go the PMOD course (awesome) and the Howtogetthemoney.com course too. (Awesomerific)

    Is there anything more, or do I just need to “do it” now?

    thx,

    Jay

  10. Thank You — I can’t wait to receive the template and the other free info
    With this , I know I will have the opportunity to advance

  11. Hi Patrick,
    I consider to “split profit” with lender instead paying interest. Is it a good idea?

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