Private Lending - The Two Key Elements You Need in Your Credibility Kit

Letters of Recommendationmemory enough to go get those testimonials. You
Letters of recommendations can be from a bank, ashould kind of use this as a reminder.
lawyer, an accountant, or any professional that you'veProfessional Licenses
dealt with. Many professionals will be happy to sendIf you have any professional real estate licenses,
something to you on their letterhead. Sometimesobviously you would include a copy of that license. If
they're a little uncomfortable with it but that's fine. Theyyou're an agent, a broker, or if you're any sort of real
might say something relatively generic.estate sales person and you're licensed in your local
Banks will do it. You can certainly get a letters ofstate, clearly you need to put that in there.
recommendation from a bank. They will just basicallyIf you are licensed as a title clerk or any of that type
say, "Your account is in good standing." It doesn't reallyof thing, you'd put that in there also or really any other
say very much, but it clearly is something that you canlicense that you might have. Again, it doesn't
put as the process. It shows that you have anecessarily have to be real estate. Obviously it's better
relationship with a local bank and your account is inbut it's not necessary.
good standing.If you are licensed as a professional accountant or a
You can do the same thing with your corporation. Inprofessional this or a professional that, put that in there.
the state of Pennsylvania where I do business you canIt shows professionalism. It shows that you've risen
get what's called a Letter of Good Standing. In fact,through the ranks of whatever field you're in. These
you can order it online and probably can at mostare all things that show that you are an expert and
states. You can get what's called a Letter of Goodyou've got to some distinction in some areas and
Standing for your company, too. I would clearly do thatclearly show some skill sets.
also. I would get as many of these as you can.You want to bring out any license that you might have,
Again, just keep in your mind part of this process is theany professional designation that have. Don't put silly
learning process. You know we've talked about thisones from some seminar you got. Some of them are
extensively tonight. The next time you're at your locala little bit silly. Some of them you may have to explain
bank think back on, "Mike said go get testimonials andwhat they are, that's fine, but again it just shows some
letters of recommendation," and it will just jar yourlevel professional expertise.