Oct 2, 2018
Being successful is a choice. If
you're just doing it for the money, it's not a big enough reason
why. You've got to do it because you enjoy or like the real estate
process. It's got to be a passion.
On today's episode, I talk about
raising private money and how a lot of people do it the wrong way.
Who is going to give you the money at the right cost? When I talk
about raising private money, the goal is, "How do you attract
capital, people who have money? How do they give it to you? How
much does it cost?"
Topics on Today’s
Episode:
- Cost
of capital is a big deal; take care of your capital, make it money,
make it grow, and you will get lots of people to give you lots of
money
- Private Money Ponds
-
- Big
Fish Pond: Where all the big fish are located; a big whale -
someone who has lots of money, are aggressive, but never shows
up
- Real
Estate Investors Pond: Approach other real estate investors who are
making lots of money; pay a Six-and-Six (6% payer and 6% backend
pay)
- Consistency of the return makes the most sense;
good financial advisors give you a range from 6% to 8%
- Pond
or avatar that works well for me is the multifamily space, where
there’s trillions of dollars; I crush the stock market because I
offer a better return
- Most
people have a 401K to store their retirement money; at a certain
age, they can transfer some of their money to an IRA
- Most
people spend their whole life saving for retirement; stock market
may be ok to grow your wealth, but very bad at creating an income
stream
- Invest in things that can get you
paid:
-
- Certificate of Deposit (CD) makes less than 1%,
yet lots of retired people have their money in them
- Bonds: You can have municipal or corporate
bonds; bonds pay between 4% to 5%
- Blue-Chip Stocks: Every retired person has a
fear of running out of money; you save money, but it's not earning
enough income
- Every
quarter, monthly profit from rent checks is distributed to our
capital; investors get 6% annually, which is $1,500 a
quarter
- As
rents raise, the property becomes more profitable and affects the
value; maximize operations, so when you sell, you create additional
money for investors
Links and Resources
Mentioned:
Quotes:
“The truth is it's just a
choice. Being successful is a choice.” Corey Peterson
“I enjoy the sport of real
estate, the sport of it. I want to get you there because it's a
great, great lifestyle.” Corey Peterson
“I think what I offer investors
is sexy as hell. The reason I know this is because I'm consistent
as hell.” Corey Peterson
“When I compete against the
stock market, which the majority of people that are investing are
in the stock market, I can crush it. I really can.” Corey
Peterson
Don’t forget to download
my Free Workshop Quickstart Video
Series, and if you like
what you have heard please
leave a review on
iTunes.
Text the word MONEY to
408-500-1127 to get my free private money program and credibility
kit for single family.