Finding Private Banker SuspectsBy Chuck Smith
Memorize the
opening line:
"Mr.
Jones, do you have an IRA, Pension, Mutual Fund, CD, Savings Account or any
investment that's not earning you a 15% return safely?"
When they tell
you they do not, simply explain what you do.
"Mr. Jones, I buy and renovate homes
right here in ___(City)___.
I pay private lenders 15% simple interest on a monthly or quarterly basis for a
set time that we agree upon.
At the end of the term of the loan, typically 2 to
5 years, I pay back the entire principal and you keep all the interest
payments.
You can use money that is in your IRA also, which I will explain later."
"When you loan me the money, you
will receive, a first and only recorded mortgage (1st position), a promissory
note signed by me, a copy of an insurance policy on the property, interest in a
one million dollar life insurance policy against myself in the event I die, you
will be paid in full (See "How To Keep Private Lenders Safe")."
I shared 50% of my profit, but hey, I had
over a half million dollars. This was only two months after starting my
marketing campaign.