There are many ways to acquire new business when you’re a loan officer looking for clients that need hard money.
We’re are always looking for ways to get new business and keep our sales funnels loaded. My focus today is to discuss some of those ways to find new leads and increase your bottom line.
Attend your local REIA meeting.
Real estate investment associations have a great attendance and there is always someone looking for private funds. There are wholesalers to connect with, other brokers and direct investors. They meet monthly to go over new deals and opportunities. You can sign up to become a member.
The more face time that you put in, the more connections you’ll make which can lead to increased revenue.
RCN capital is a sponsor of CT REIA and East Coast REIA and I attend their local meetings which I find incredibly informative. They offer tons of support for their fellow members and it’s well worth the cost of signing up.
Connect with your local and national REO agents.
These agents have direct access to a multitude of underpriced properties for sale. They deal directly with the banks who are looking for qualified buyers. Realtors in general come into contact with investors sometimes looking for capital. Interview a few agents until you find one that you click with and can depend on for a seamless transaction.
Your local general contractors are consistently working with investors looking to fix and flip their properties and move onto the next project. Sometimes, they decide to fix and flip properties on their own. That’s where you come in.
They need funding and if you have an established relationship with them, they are more likely to contact you when they need funds.
Bankruptcy attorneys have relationships with real estate agents as well as the bank. They are “in the know” about non-performing assets that the bank wants to unload quickly and require quick funding.
Or better yet, create a networking group with a local real estate attorney, contractor, accountant, realtor and inspector. Each person will have leads for you at various stages and you can supply leads to them. Meet once a month to share leads and tips on how to better manage your business.
Attend Trade Shows
Walk around and network with all of the divisions of your industry. Make some connections and provide some value to others.
Use Social Media to your advantage.
It’s a great way to showcase your knowledge of the industry and connect with new potential clients. You can build brand awareness by creating and marketing your own private label website to draw new clients looking for hard money.
Sometimes, connecting with others in hopes of expanding your business is not particularly innovative and is based on traditional methods of face-time and personal connections.
If you have any questions about private lending please email us.
We look forward to working with you.