Friday, July 17, 2009
finding the money you need for business or real estate quickly and easily. Here’s
how to get the money you need for your niche business or real estate:
1. Name your niche. You MUST know your niche if you want to
apply to lenders who serve that niche. Thus, your niche might be
lenders that loan on Gas Stations, Tennis Courts, Used Car Dealers,
Golf Courses, Hotels, Motels, Bowling Alleys, etc
2. Get the names of suitable niche lenders. You can find such
lenders in the IWS “Directory of Niche Lenders,” in reference books
at your local Public Library, or on the Internet
3. Contact your selected niche lenders by phone, postal mail,
fax, or email. Ask for full data on the loans they make. Get the
Amount, Purpose, Interest Rate, Term (length of the loan), Credit
4. Carefully go over the info you’re given. Compare the offers from
various lenders to see which gives you the best deal. Look carefully for
deals that do not charge points (1 point = 1% of the loan amount; for
a $100,000 loan, 1 point = $1,000). Some lenders charge as high as 8
points. Avoid them!
5. Get a copy of each lender’s Loan Application. Study each Loan
Application carefully. You’ll see that the Applications are similar. But
some ask for less information than others. Pay close attention to parts
of the selected Application that give you a challenge. If you have any
questions on how to fill out these parts of an Application, call Ty Hicks
at IWS if you have the “Directory of Niche Lenders.” He’ll try to help
you with advice on your questions. REMEMBER AT ALL TIMES:
You MUST be completely accurate in every statement you make on
a Loan Application. The advice you get from Ty Hicks will include
a reminder that every statement on a Loan Application MUST be
completely accurate in every way
6. Be certain your Loan Application is typed. In business and income
real estate niche lending your lender expects a business- like approach
Typewritten (or computer-printed) Loan Applications are standard
Only the signature is hand-written
7. Accept the loan offered you if your business or real estate can repay
the niche loan and ALL other expenses and show a Positive Cash Flow
each month. Niche lenders get you money!
businesses, or to just one type of business. Thus, a niche lender might focus on loans
• Gas stations, auto repair shops, tire stores, etc
• Sports facilities—tennis courts, bowling alleys, swimming pools
• Health care facilities—nursing homes, rehab centers, hospitals
• Education centers—schools, colleges, universities, etc
• Multi-family real estate, apartment houses, condos, etc
TO FIND A NICHE LENDER you can take a few easy steps. These steps are
quick and direct, namely:
1. Define your niche. You must know your niche clearly so you can focus on
the lenders that make your type of loan. You have a number of typical niches
above. If you can’t figure your niche, call Ty Hicks and he’ll do it for you on
2. Look for lenders serving your niche. You’ll find them in many different sources,
such as: (a) Magazines and newspapers serving your niche business or real
estate; (b) On the Internet at sites that cover the news of your niche; (c) In IWS
lender books and in the IWS newsletter, or via a special search we do for you at
your request. Such a search will typically find from 3 to 12 lenders
3. Get your niche lender’s paperwork—its Loan Application, Loan Guidelines,
and any other documents they normally supply. This could include forms for
releasing info, checking income, etc. These will be sent to you free of charge
4. Fill out the Loan Application. Don’t be careless about your Loan Application
Make it neat and clean with no cross-outs or messy corrections. The best way to
achieve this is to type your application throughout. If you have to submit your
Loan Application via the Internet, do it yourself. Or have an Internet person do
it for you
5. Call, e-mail, or write the lender if you have any problems filling out the application
Ask “What do you want to see as an answer for Question 7?” for any
question that puzzles you
6. Send your Loan Application to the lender along with a letter explaining how
much you need for your business, for what purpose, and how you’ll repay the
loan. You’ll get your money!
7. Use this method and your Loan Application has almost a 100% chance of being
approved. Being organized will get you to your money sooner!
• “Money is the universal solvent”—every business needs money sooner or later. Find it and you’ll be paid!
• Money answers almost every need a business may have.
• Money allows a business to start, expand, pay debts, or sell itself.
With money in the bank, a business can soar.
SO IF YOU WANT TO EARN THE HIGHEST FINDER FEES, try looking for money for businesses. Why do we suggest looking for money for businesses? Because:
• Businesses usually have fair to good credit, often have assets that are usable as collateral, understand that you’re entitled to a fee for your work. They need you and want your skills.
• Businesses respect you as a professional and seldom argue over your fee; they enjoy paying for results!
• Businesses appreciate you finding money for them and are ready to reward you for your work.
“SO HOW CAN I GET STARTED FINDING MONEY FOR BUSINESSES?” you ask. Here are good steps you can take:
1. Set yourself up as a Financial Broker, or Financial Consultant- Finder in your own profitable business.
2. Decide what types of businesses or real estate you’d like to work with. It helps if you’ve had experience in the field you want to work in. You’ll earn money sooner!
3. Run ads, make phone calls, use the Internet to tell people you’ll look for loans for business or real estate for a fee based on the loan amount. Be their money “bird dog”!
4. Contact local, and distant, lenders who make the types of loans you’ll be looking for. Get details of their loan practices from them so you can use the data for your loan clients.
5. Help your clients fill out their Loan Application so it meets the lender’s needs. Be sure to have the application typed, or fill it out on the Internet, if the lender prefers this method.
6. Get money for business or real estate and you’ll prosper!
Tuesday, February 24, 2009
One reader's success story. This is an unsolicited comment we received by letter at our office in January.
SUCCESS IN TWO BUSINESSES: “As I said in our phone talk, I’m very active as a commercial real estate investor. I currently own 84 apartment units in the Bronx, NY. My monthly income is about $8,400 net after all expenses and mortgages are paid. My income alone on this building is about $100,800 per year.
“I only buy owner-financed buildings and I get great interest rates and terms. I’m currently negotiating with the same owner for his other building having 97 units. This building will net $9,700 a month, giving me a combined cash flow of $18,100 per month. I learned all my skills through your real estate books.
“I get my due-diligence money for real estate investments by specializing in hard-money loans as a Financial Broker. I closed on a recent deal last month which was for a $2,700,000 loan and my fee was 1%, or $27,000. My family lives on my real estate income so all my Financial Broker fees go straight into my bank account for future real estate deals. I am now working on a $9-million deal and my fee will be 1%, or $90,000. I get great results advertising in the IWS Newsletter.
“Right now I see my Financial Brokering business doing $25,000 to $30,000 a month. This is not bad for an ex corrections officer who resigned after 9 years on the job, even though all my friends thought I was a fool not to stay for the full 20 years to get a tiny pension. These same guys call me to say they have to take a job to support their families, after they retire. I ask myself: ‘Who was the fool?’” By letter from New York