Follow This Checklist BEFORE You Start Looking For Private Money

When you first start investing, you tend to use your own credit or equity. There are many ways to start doing this, whether you are investing in traditional currencies or looking to buy crypto with credit card accounts, which has become more popular in recent years. As you expand, you’ll eventually reach a point where you need or want to stop using your own money and start using other people s money.

Before you throw up your hands in resignation and complain that there simply isn t any private money out there (which is something A LOT of investors say), here is a checklist to follow of things you should do first before you go looking for private money:

• Establish a track record. Money is attracted to success. When you do at least one successful deal on your own (yes, you might have to use your own money on that first deal), you build a track record. The ability to find other investors with money changes completely after the first deal.
• Build a brand. Get a website (you could even work with someone like this Milwaukee Website Design and Development company to help you build a website that is fully optimized and well functioning from the get go), create a logo, get business cards, clean up your wardrobe, make your PowerPoints look nice. Yes, it s possible to get private money without these things but it s possible to get even more private money when it looks like you ve got it together and you re a real business.
• Build relationships and have something to offer. If you want to build great relationships with private money, remember that it won t ever be a one-way relationship. Before you start looking for people with money, figure out what you have to offer. Pro tip: Figure out what private money is looking for it s not always better-than-average returns; sometimes it s safety, sometimes it s cash flow, sometimes it s diversification. Sometimes it s information (i.e. they ll do a couple of deals with you to learn the ropes before starting out on their own). Figure out what your private money wants and figure out how you can deliver it.
• Continuously build your private money list. Many investors wait until they have a deal before they start looking for money. And when they find someone who will lend them money, they stop looking. Take a different approach: Always look for investors whether or not you have a deal right now. You ll eventually get to a point where your available private money exceeds the amount of deals you re currently doing and you ll be forced (in a good way!) to start doing more deals.
• Increase your outgoingness . Learn to connect more often. Find new ways to connect. Don t just show up at your weekly investment club and think that s enough. Private money flows to those who do more. Arrange breakfast meetings, lunch meetings, dinner meetings, evening meetings, phone meetings, Skype chats. If you want to have more money than deals, strive to connect with 3-4 investors every single day. It doesn t have to be long presentations (and you don t have to bring them a deal each time), just build the relationship and ask how you can help them. But the key is to meet with more people than you re currently meeting with.

Private money it s out there and it s eager to invest. If your sources aren t built yet (or if you ve tapped them all out already) follow this simple checklist to start generating more private money for your deals.

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