Welcome to the One Deal Millionaire Podcast! I'm J.D. Allen, and I'm here to tell you how I bought a 50-unit mobile home park with almost no money in the bank. Most people would walk away from such a deal, but I leveraged private money from two different sources, not banks, to close it. This wasn't about perfect credit or a huge bank balance; it was about a clear plan, a well-structured pitch, and the belief that the right deal attracts capital. I'll break down how I found the deal, who the private lenders were, what I said to get them to fund it, and how you can use this approach to unlock opportunities you thought were out of reach.
Private Money is Relationship-Based Capital: Unlike traditional bank loans, private money comes from individuals (friends, family, professionals, retirees) who are looking for better returns and are willing to invest in your plan and trust, rather than just your credit score.
Structure and Clarity Attract Capital: To secure private money, you need a solid deal under contract, a deep understanding of your numbers (purchase price, rehab, projected income, exit strategy), and a clear, concise pitch that outlines the deal, the terms, and how the lender will be protected.
Overcome Objections by Building Credibility: Address common fears like "I don't know anyone with money" by networking and sharing your investment activities. Be the prepared, transparent, and reliable operator you would lend to, as consistent action and clear communication will attract private capital.
What's one deal you've always wanted to do but thought you couldn't afford, and how might private money be the key to unlocking it?