There are billions of dollars sitting in accounts earning little to no interest.
Most of this money is in retirement accounts, including self directed IRAs (SDIRA) which is the best source to find private lenders for your real estate deals.
Transcript:
I want to talk about the opportunity that is here before we get into it. Because some you may be thinking having the scarcity mindset of like, I don’t know if I can find lenders, maybe there’s not enough out there that are going to trust me. Well, there’s literally billions of dollars sitting not only in banks but in self-directed IRAs companies and they’re sitting slowly making zero interest. Because of the reasons, I just mentioned that potential lenders are not sure who to work with and that goes back to that lack of trust and lack of knowledge.
This by the way is, I mentioned earlier I was going to reveal my number one source of private lenders, its self-directed IRA companies. Why is that, because these people have taken money out of other retirement accounts and other sources and funds, they’ve done a lot of paperwork, they’ve moved this money over, set it up and established it so that is in position to lend to real estate and other self-directed asset classes. In this slide, here I mentioned that there is billions of dollars available in self-directed IRAs. If you look at the number one asset where self-directed IRA investments go it is to real estate.
The poll is very, very big, my friends. If you if you are really going to take this serious what I encourage you do, is to stop pitching deals, don’t even talk about your deals. I never talked about my deals until I have done this, until I lead with value. I seek first to understand this as a Steven Covey thing, see, first understand then be understood. If you look at the highlighted section, what I focus on, I do not focus on in my business I do not focus on raising money directly. I do that indirectly. But how I do it, I educate people, I act as an advocate for them to help them, I inform them about, here’s how you can identify a good deal versus a bad deal.
Here is what a good borrower may look like and what they may provide, here’s how you secure your deal. I just tried to help them and by helping them I know that they may not be a good fit for me and my company, that I may give them so much education that they go invest with other people. That is okay, because my intention is just to do this. This is my goal. I know if I do this, do this enough. If I give enough value into you know, the private lending marketplace, if you will. I just need .0001% right to come back and that funds all the deals that we need to be funded.