Building Your Network: The Key to 100% Funding

In this episode of The #DoItMovement® Podcast, hosts Martine Richardson and Lori Eubanks discuss effective strategies for financing real estate investments without using personal funds. They emphasize the importance of analyzing deals, networking for funding, and maintaining transparency and integrity with lenders. The conversation also highlights mindset shifts necessary for attracting investment and the significance of sharing one's journey in real estate to build trust and credibility. In this episode, Lori shares her journey in real estate investing, focusing on the importance of building relationships with lenders, understanding the differences between hard money and private lenders, and the necessity of interviewing potential lenders. She emphasizes the need for flexibility in funding and the value of networking to create opportunities. Lori also recounts personal experiences that highlight the challenges and solutions in raising capital for deals, ultimately encouraging listeners to believe in themselves and their ability to secure funding for good deals.

 

Takeaways

• A good deal can attract funding from various sources.
• The 70% rule ensures lenders feel secure in their investment.
• Networking is crucial for finding private lenders.
• Sharing your real estate journey can attract potential investors.
• Mindset is key; view yourself as a service provider to lenders.
• Transparency with lenders builds trust and credibility.
• It's important to protect your lenders' interests in deals.
• Start small and build confidence in seeking funding.
• Integrity in real estate dealings is essential for long-term success.
• Learning from challenges can strengthen relationships with lenders. It's okay to make mistakes in your first deal.
• Working with a good attorney is crucial.
• Hard money lenders have strict rules, while private lenders are more flexible.
• Building relationships is key to securing funding.
• Taking potential lenders to lunch can foster better relationships.
• Always interview lenders to understand their needs and expectations.
• Not all lenders are the same; spend time getting to know them.
• Creative solutions can help piece together funding from multiple sources.
• Networking can lead to unexpected support from wholesalers and peers.
• Believing in yourself is essential to finding the money for good deals.

Sound Bites

• "How to Get the Money"
• "You