Archive for the ‘Private Lending’ Category

May 6th, 2011

E. Alan Cowgill and Private Lending Made Easy

Alan Cowgill

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E. Alan Cowgill and Private Lending Made Easy

E. Alan Cowgill used to toil and in the monotonous world of corporate life. Faced with  mounting debt and no money in the bank, he stayed up one night and watched the real estate infomercials on TV. He bought one of those home study methods and learned all the requisites of the real estate market. Pretty soon, he always already closing lots of deals, and making more money than he ever earned in the corporate world. Today he is a successful full-time real estate investor. Here are a few insights on E. Alan Cowgill ’s ideas on where to get money, fast.

The Drawbacks Of Dealing With Hard Money Lenders – E. Alan Cowgill

When home sellers are distressed, as many are in these recession-weary times, they are always on the lookout for creative financing schemes to help them save their homes. However, most distressed sellers who need money fast often fall prey to hard money lenders who often squeeze them dry. The drawbacks of dealing with hard money lenders are aplenty. First, hard money lenders generally require that you pay as much as fifteen percent in down payment. The process of coughing this much money often cripples sellers, as it ties up their personal funds. With hard lenders, clients also need to pay back the loan in as little as 12 months, and they can’t even owner-finance the property or go for the lease option. What’s worse is that, they may even be required to pay for the renovations using their own money.

How To Easily Find Private Lenders – Alan Cowgill

To steer clear of hard lenders, and find better terms with private lenders, E. Alan Cowgill has a number of helpful suggestions.  First, you need to create a business plan. You should be able to create a business plan or package that you will present to viable lenders. The business plan includes your current financial outlook,  financial performance statement  for the past 12 months, and your ideas for growth.

E. Alan Cowgill also suggests that for you to find private lenders, you must offer the lender at least a ten to twelve percent return on their investments. Next, buy a list of local certificate deposit holders. This type of list contains the names of persons who have invested their money for long-term profit. You can get this list from the bank. Once you get the list, you can speak to the individuals listed personally, and see if these are interested in your business plan.

Alan Cowgill also asserts that you need to work with folks that you
have a prior relationship with so you are in compliance with the SEC.
If you want to advertise then you will need to REGISTER with your
states division of the SEC. Once you meet with prospective private
lenders,  fully explain to them what services are offered in your business, what products you offer, as well as provide them with your name, contact information  and other  pertinent business details. Finding a private lender may be a hard thing to do, especially if you don’t know where to start. Before looking for a private lender, make sure you understand the basic tenets of private lending, before you begin creating your business proposal.

To Get FREE Real Estate Training from Alan Cowgill and a special Real Estate Private Lending bonus  click here

-Aislee