Episode 67: How to Find Money for Your Next Deal

For many real estate investors, finding funding for investment properties can be one of the biggest hurdles. Have you ever felt frustrated not knowing where to turn when you found your dream property? Wondering how other investors seem to come up with cash, when your own bank won't give you the time of day? In this episode, the John Crutchfield discusses strategies for tapping into underutilized funding sources like small local banks, credit unions, hard money lenders and more. Learn how to build relationships where it counts, and develop a plan to turn "no" into "yes" for your next property deal. [01:33] - Building relationships with small community banks over time is key. The Speaker recommends regularly visiting your local banks to get to know the loan officers. Bring details on your past deals and experience so they understand your track record. [02:43] - Ask other investors you know which lenders they prefer and why. Referrals can help introduce you to funding partners actively working with real estate investors. [03:24] - John also suggests to plan where to get your money from. Allocate a time to research about different funding options. This includes calling banks and hard/private money lenders, going in forums on social media, finding people who say their lenders, and making a list of what product they offer (lending criteria, rates, terms, loan sizes and areas of focus). Key Takeaways: • Build Ongoing Relationships with Local Lenders • Research All Funding Options • Ask Other Investors for Referrals • Bring Concrete Deal Examples Key Quotes: "Your local community banks, especially your small local bank, I'm not talking about the chases, or the Bank of America's or the regions or all those big ones, I'm talking about your mom and pop bank that's on the corner, they can build a relationship with you." "Sometimes that's what I do for an entire day, I will spend an entire day calling banks, calling hard money lenders, going in forums on social media, finding people who say their lenders, and I will spend that entire time like making a list of what of what what these people say they offer, right what product they offer." Mentioned in this podcast: Wealth in Real Estate Facebook Group If you are interested investing in real estate and make connections, shoot an email grabthemap@gmail.com. Read on some of our blogpost http://grabthemapllc.com/.