Private money lenders care about relationships and confidence in your deal, not just numbers. One example: a property valued at $450,000 shows investors their capital is actually safe, unlike hard-money lenders who only look at the math.
The biggest thing, Nathan, and you did a great job of this, is with private money, you really want to make that person feel comfortable in you, in the deal. It's now about the relationship with private money. Hard money, they don't care about you. They're just looking at the numbers. If it makes sense, they underwrite it, and that's their business model. But not private money. Private money is very relationship-driven. So you have to do a really good job helping that person feel comfortable that their money's secure, it's safe, you know what you're doing, it's a good deal. How they're going to get paid back and all of that.
And what I did is I showed them the deal. I said, hey, look, this house is worth right now if we just sold it, you know, $450,000, $450,000.
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