Private Investors - Posted by Dennis Rigdon

Real Estate Investing
1

Posted by Stacy (AZ) on February 02, 2001 at 16:22:13:

Yes, I think you must be right. As long as you advertise including the word “partner”, it’s probably OK. I’ll have to research this better in my state if I ever decide to do it.

Stacy

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Private Investors - Posted by Dennis Rigdon

Posted by Dennis Rigdon on February 02, 2001 at 15:29:30:

I’m in my first year of investing and are finding banks entirely to slow in working my deals. Does anyone know of any private investors that are willing to invest in the Atlanta, Ga. area? Credit is not my problem. I’m losing deals because I can’t act quick enough. Help!

Dennis Rigdon

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Re: Private Investors - Posted by Monique

Posted by Monique on February 03, 2001 at 07:38:49:

Dennis,

Email me offline regarding the type of deals you are working on. We buy mortgages for properties based in Atlanta and might be able to help you.

If we can’t help, I can put you in touch with some private, hard money lenders.

Regards,
Monique

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Re: Private Investors - Posted by Charles Steed

Posted by Charles Steed on February 02, 2001 at 15:43:56:

Dennis-
Run an ad in the newspaper under investment property section saying “Earn 25 percent (or whatever you project) secured by prime RE. Call Dennis Rigdon.” Not necessarily 25% interest, but 25% of the net profit, or, whatever favorable terms you can arrange. You might be surprised at what happens. Worked well for me in the beginning.

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Re: Question - Posted by Stacy (AZ)

Posted by Stacy (AZ) on February 02, 2001 at 16:09:45:

I’ve always wondered about this, Charles. Supposedly, if you advertise to find private lenders this way, you may wind up getting a call from the securities division of your local government. You know, licensing issues, dealing in securities, etc. But I’ve also read that as long as you didn’t “market” for private lenders, but happened to find them through informal methods (friend referral, etc), you are not in violation. But, I’ve seen this advice from others, too.

Any thoughts?

Stacy

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Re: Question - Posted by Charles Steed

Posted by Charles Steed on February 02, 2001 at 16:16:35:

I guess that could be an issue but I don’t think it’s any different than advertising for a partner. I’ve used a joint venture agreement for deals like this and always offered a percentage of the net - technically, that makes any taker a partner of sorts. I think that keeps the dogs at bay. I got the idea from Robert Allen years ago.