Honesty & Private Lending For We Buy Houses WV
Vince Lombardi was a successful leader on-and-off the field and always loved a teaching moment. When an opportunity of growth reared its fancy face, he was known to demonstrate what at the time, seemed farce. To learn and grow, he would start with the basics time-and-time again. In the locker room, amongst veteran players, he would gather them around and state “Gentlemen, this is a football!” and redo the basic fundamentals of how to succeed in the game-starting from the basics and working forward. With that said, pretend for a moment that for Investing and succeeding at the game, that Honesty is the football. It is “Doing The Right Thing” the “Golden Rule” “The Truth Be Told”; the most valuable asset you have that will realize your biggest gain in building your empire.
(Geez, not only am I sounding like Anthony Robbins but also Joel Osteen. I suppose that’s not a bad thing?)
Don’t Bank On It Just Keep It Private
As home buyers in Charleston WV, there will be many obstacles you will encounter, starting with financing. Sure, you can get your financing in order with a bank and possibly build a relationship for funding on a few homes but you will soon discover the limits of too many loans and the cumbersome red tape banks have with their underwriting standards. Even with a solid business plan and a strong column of assets, most banks make it extremely difficult to do business with. There are a few exceptions to the rule but to find that rule you must for now, “focus on the football”. I buy houses to predominantly redevelop and to overcome the financing quagmire, I had to seek private funding. (I will save the “How To Find A Private Lender” sermon out of the Gospel Of Nida for the next article and reinforce being a football. I mean a honest person.)
Using my own personal experience, by being honest, even when that greedy little Devil on my shoulder told me to “ do the deal” or “only think of Team Bret who cares about The Team Edward Family?“, I have been fortunate to have raised a good bit of funding for my ventures and have been able to pass on to my lenders a great return. Private lenders are everywhere: at Church, the Gym or maybe even your Great Uncle Archie might have a stack of cash to invest in. With the measly ROR(Rate of Return) the Fat Cats on Wall Street are giving him on his retirement, you could give him a much higher return on his retirement and provide a Win/Win for everybody in the Bunker Family.
Absolutely Nothing But Absolutely Everything
Demonstrating that you are a person that one can trust, no matter which paradigms of your life you are moving through is the first step on your way to being a reputable Real Estate Investor and when someone calls you to say “I need to sell my house fast”, you can truly make them a cash offer. Remember the basics and remember the football and should you be wondering what the football and Vince Lombardi has to do with Real Estate investing I can honestly say, absolutely nothing but absolutely everything!