Other people’s money can be a great way to skyrocket your portfolio without the headache of dealing with banks. But what headaches come with private money? Let’s talk about it with Dave Dubeau!
In this episode, you’ll hear:
- Where the legal risks lay in raising private money
- How to find lenders in your existing network
- Dave’s money partner formula to create a flywheel of private investors
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What are the Risks of Raising Private Money
Raising private money may seem like a straight forward process but there are actually many legal risks facing both the borrower and lender. Some common mishaps I’ve seen are
How Do You Find Private Money Lenders?
Dave suggests starting with your network and simply talk about what you do. Build up a know-like-and-trust factor with prospective lenders by getting to know each other and having the lender get to know and understand your business model. Dave also suggests having a follow up system to take the leg work (and brain capacity) from following up with people. Dave does this through an email newsletter but it can be done in person as well through coffee dates.
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Resources Discussed in This Episode
- Connect with Dave Dubeau: Dave’s Website
- Dave Dubeau is the creator of the Money Partner Formula, and he works with mom ‘n pop real estate investors and helps them to get started with raising capital. He’s a best-selling author and speaker based in Beautiful British Columbia, Canada. He began his real estate investing career in 2003 doing 18 deals in 18 months and nowadays he invests passively in multi-family properties.
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Episode Transcript
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