Hi! It’s Lou Brown. With another of my amazing 101 ways for real estate investors like you to win, close more deals, and accelerate your cash flow. Today’s tip is number 38. Offer, only offer collateral if the lender insists. Now slow that car down and don’t get too excited. In this series I’ve been sharing with you about borrowing money, borrowing money without going to banks and without qualifying for loans. That’s my favorite way to borrow money. I’ve got a whole system on this called borrowing volume six it’s in my system of training you how to become an amazing real estate investor and build a terrific real estate business. You can find that by going to StreetSmartInvestor.com click on tools and click on volume six Borrowing.
Now, what I’m sharing with you right now is the fact that in some cases, in many cases the lender really doesn’t care about putting this against a particular property. Now I’m being very careful to share this with you because I want you to be very, extremely, powerfully responsible around when you borrow someone else’s money that you are in a position to pay that money back. And the thing that really makes it valuable is if you give a mortgage against the property and that property sells, then you have to give the money back because it’s secured by that individual property. Well, what that means is Mrs. Jones now got her money back and she’s not earning anything on that money while it’s sitting there idle. Alternatively though, if you borrow that money on a promissory note, then that money is earning interest the whole time that it’s out. So you put the promissory note with a period of time, maybe it’s one year, maybe it’s three years, maybe it’s five years, and during that period of time you’ve got the freedom with that money to keep that money working and you can make a lot more money on it.
So I hope you’ve enjoyed this. I hope this has been valuable to you. I know it can make a difference in your life. It certainly has in mine. I love to share with you more of my profitable tips. How can you get more? Well, depending on where you’re seeing this. Simply like it. Love it. Comment on it. Subscribe. Share it with your friends. I would appreciate that very much. Thank you so much. I’ll see you soon. Yeah, baby!
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