When you pool money from private lenders, you're putting funds together from two or more different private lenders. You obviously need to look at doing.
Table of contents
- You Are About to Discover How Alan Cowgill –
- Alan Cowgill - Alan's Private Lender Rules
- Private Money Q&A Manual And 3 Audios – By Alan Cowgill
If you were going to buy only a few courses his would be the one you want. In theory just blabbing to everyone about what you do to get money sounds easy but in reality it is not, especially if your new at investing, most people wont consider loaning you private money as you have no credibility. His course will get you past all that. My opinion would say go for it!!! The people who tell you not to most likely are not new to this business therefore not really needing his materials. Hey guys thanks for the feedback. So Aaron, you sound like you do quite a bit with private lenders Curt his course was 1, dollars it also included 2 bootcamps.
Have you used the curriculum from his course much? Such as the dvd he says you can hand out to others? Do you currently use many private lenders-if so how did you get started? Frankly, it looks like overkill to me. But I also know this is a sales pitch and the information provided, if accurate, would probably be helpful for someone with little experience.
I'm looking for a private lending borrowing discussion group. I'm a student of Alan Cowgill but still have a few questions re SEC registration to legally be able to advertise to strangers. I probably dozed off at that point. Alan Cowgill has been around for some time pushing his private lending course. As I recall John's business was put into receivership and shut down. I got Alan's updated program when he first started talking about SEC stuff.
It was crap and contradicted what he was saying to do with the rest of the program. Many other Gurus who teach private lending are only repeating the misinformation they have been taught by others. For example; most say 1 investor - 1 property is OK, but Pooling money means complying with more regulations.
You Are About to Discover How Alan Cowgill –
This is total bull poop. You can still create a security and have to comply with the law, with only 1 investor. I don't believe the word "pooling" is used anywhere in the securities act. It is a term made up by Alan Cowgill. Bottom line 1 If you have investors that are passive and not actively involved with the investment, you have created a security and must comply with securities regulations.
Lots of investors do it and get away with it. But don't fool yourself, be aware of the risk you are taking. Somewhere here there is a forum on private lending. I have not used the service but I appreciate the link just to see what it is really about. Also, Ned Carey , really liked your post. So if you offer them the usual monthly payments, many will loan you money at even lower rates.
Not to mention prepayment penalties later on. You might have to hold the property for years to offset these overblown costs!
You can even borrow the money you need for renovations. So you can beat your competitors to the punch, then get your properties fixed and sold quickly. I lease optioned it a month later and the tenant bought it a couple of years after that. And neither can you. After all, few distressed sellers can wait for a bank loan to fund. From time to time, I get emails from overconfident real estate investors who heard me lecture at a real estate conference and then jumped the gun.
Excited by the benefits of private money, they ran to their friends and relatives for loans, only to be snubbed. When tested with specific questions, they stumbled. Why gamble away your hard-won relationships? Lenders need to trust you to complete your renovations, make timely loan payments if there are any , and pay off the loan balance as agreed. To come across as credible and competent, you must be ready to answer all of their questions. You see, when attracting private lenders it is not the wild west. There are some basic rules you need to follow.
Alan Cowgill - Alan's Private Lender Rules
As real estate investors we are not allowed to mislead private lenders. That would be considered fraud. There are also some basic rules to follow. Most of my students started out as average investors. But once they got hold of "The Premium System" , some of them raised private money and monopolized their local markets.
My favorite part is their amazement at how easily my techniques work. Now, I want to be clear that some of my students use my system to hold a low-cost luncheon with potential lenders, and other students use it for one-on-one meetings. So "The Premium System" is very versatile. And if you decide to register with the SEC, then even more tools open up for you to advertise to strangers.
- A Look at Alan Cowgill’s Private Money Course and More.
- Talkin Bout Your Generation.
- The Idea of Europe: From Antiquity to the European Union (Woodrow Wilson Center Press).
- Alan Cowgill Warning and Advocacy.
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- Alan Cowgill and Private Money?
The Premium System is intended to help you find private lenders among folks that you already know like I did with my mom and also among strangers once you are in SEC compliance. This manual also shows you: This awesome tool will blow your mind… and save countless hours of your time.
It features the tools that I have created; from my postcards and mailers to my newspaper ads to my proven slide PowerPoint presentation 26 forms in all. When you get "The Premium System" , you will receive access to this forms website via a web address and registration code. You will need to complete the personal profile information and, in a matter of minutes, you will have all of this at your fingertips… completed for you… ready to use… with your information from the profile you created: How is this possible? By completing the profile, with one click of your mouse, all of my personal and company details are deleted and yours are inserted in the exact same place in all the forms at the same time.
You can update your profile anytime or download the forms individually or all at once in a format that can be altered to your computer where you can update them at your convenience. Then you will plug in the day 3-touch rule described in "the Premium System" to get to where you can ask them to loan you money. These are the same magnetic tools my students use to generate non-stop phone calls from people with money. You can mail callers my Audio Business Card Package detailed below , meet with them one-on-one, or invite them to a luncheon presentation.
With these last two approaches, my compelling PowerPoint presentation gives the entire sales pitch for you.
You just click forward from one slide to the next! Of the three methods, my favorite is giving luncheon presentations. You can also set up one-on-one appointments and show my PowerPoint presentation on your laptop. This is what half of my students do. You Get These Tools as Well: You might wonder how I came up with this participation form. So my prospects just ate lunch and left.
To get this solved, I consulted with a high-priced consultant. With this soft sell approach, they happily tell me how much money they want to invest, and how soon. This CD is your first step when you get this system.
Private Money Q&A Manual And 3 Audios – By Alan Cowgill
I will personally guide you through the system and give you step-by-step instructions on where you should start, focusing you on the things that will get you up and running: My goal is to keep you from struggling with this aspect of private lending and to get you started on the right foot. Take my premium system with you anywhere you go. These audio CDs will transform you into a private money master.
You get 6 CDs that include a recording of a live seminar, an audio of me interviewing my office manager on preparing for a luncheon Luncheon Checklist , an audio of me answering student questions Alan Answers Questions , and an audio of me presenting my PowerPoint slides Luncheon Presentation.
These audios cover the full gamut of obtaining private lender money, such as…. On my Luncheon Checklist , my office manager and I walk you through my planning secrets — what I do behind the scenes — to make sure that my luncheons are very well attended presentations. Here are some of the highlights: On the "Alan Answers Questions" audio CD, you can hear me having a conversation with one of my beginner-level students: I answer questions he had in the early stages of his start-up.
Don't miss the latest articles, products, offers, and events. Subscribe today and get four free bonus gifts! Free Monthly Update Don't miss the latest articles, products, offers, and events. Alan Cowgill Products 1. This is my business. After many years in a corporate job working for others, I left because I wanted to run my own business my way and that's exactly what I am doing. I am using my business skills to create the kind of company I want.
Along with creating my own rules, procedures, and systems within my real estate business, I have rules that I follow regarding my private lenders. A couple of my rules are: Make interest payment when property sells One private lender per mortgage I keep my word Let me further explain what I mean on each of these Make interest payment when property sells I didn't start out that way.
I thought everyone would expect monthly or quarterly payments, so I started paying some early lenders monthly. But after a conversation with a RE guru, I quickly changed and now pay when the property sells. What a huge benefit to cash flow and what a BIG help with the office paperwork.
Not only is this a matter of less paperwork for the staff, there is another practical reason for doing this. When a lender's money is applied to a property at closing, the clock starts ticking.