Course Description
This course will guide you through understanding how private lending can support your real estate investment goals. It will provide you with details about how to expand your reach, and create your plan for developing relationships that lead to securing potential private lending opportunities, including the use of private lender IRA funds. It will also demonstrate proven strategies for marketing yourself and your investment company to your network, referrals and your future private lenders.
Outcomes
Through this course, the student will be able to do and understand all the following:
- Understand the importance of private lending
- Recognize how traditional funding methods differ from private lending
- Identify the benefits of private lending to create positive cash flow
- Recognize the breadth and depth of your sphere of influence
- Identify the possibilities for expanding your network
- Develop an effective means of tracking system for your database, while setting realistic expectations
- Understand how to develop confidence in your communications
- Develop methods for networking and asking for referrals
- Identify the marketing materials to create and have on hand
- Develop questions for building rapport with, and qualifying lenders
- Understand how to educate prospective lenders
- Identify how to overcome objections
- Understand the importance of a Private Lending Package for your marketing efforts
- Develop the documents for the package
- Create the appropriate investment and property information to include in the package
- Recognize the benefits of providing a Private Lender Book for every transaction
- Develop the features of the Private Lender Book
- Identify the characteristics of a Self-Directed IRA
- Understand the benefits and requirements for qualified accounts
- Recognize the appropriate steps to an IRA-funded private lending transaction
- Identify the steps in how to optimize the structure of your deal
- Recognize the opportunities involved with offering an Appreciation Bonus
- Understand the final caveats to a successful deal
Lesson Outline
Within this course, there are eight lessons that provide a detailed review of what you need to know about the many elements of securing private lending.
- The Truth About Private Lending
- Locating Prospects
- Successful Communications
- Qualifying Prospective Private Lenders
- Preparing Your Private Lending Package
- Private Lender Book
- Using IRA Funds for Successful Closings
- How to Structure Your Deal
Assignments & Worksheets
Within this course, you will be given a variety of exercises to work through after each training video. These assignments can be accomplished alone or with your team. They will reinforce concepts with real-world, practical experiences.
Assessments
There is an assessment (i.e., quiz) following each lesson. To successfully complete the quizzes you must get a score of 70% or higher. Assessments focus on the critical elements of the course material, testing your understanding and retention of the course content.
Templates
Throughout the course, documents, scripts and sample templates will be provided to support your understanding of the course content. These templates will also be useful in current and future REI endeavors. Please remember that these are templates and are for educational use only.
