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Participation lenders When you think of private money lenders, you typically think of either short-term lenders, or long-term lenders. Short-term lenders are the ones you use on quick moving deals like fix and flips and wholetail deals. And if you are not familiar with a wholetail deal, that’s a melding of the words wholesale and retail. What you do in this scenario is buy the...
The right way to borrow private money This week I have had calls from multiple private lenders telling me horror stories about investors that had borrowed their money and did not make good on the loans. To me that’s crazy! And I want to explain today what private money lenders are, and the right way you should borrow from them. In most cases, a private lender is a person who is using...
Pay your friends and family If you are new to real estate investing, one of the biggest questions you may have is, “How am I going to pay for my first deal?” I know it was for me and Ashley when we started. Truthfully, we had no idea where we were going to get the funds to close on a house if we got an offer accepted. That’s because we were two broke kids, with a mound of student...
Walking a mortgage I will never forget that day. I was on my way down to Atlanta to attend Gary Johnston’s Financial Freedom Principle’s seminar. As I was driving, I was listening to another course that featured speakers like Jack Miller, Peter Fortunato, Jimmy Napier and Clyde Wilson. I pulled up to the Financial Freedom event, and I walked in and found Kim Cook, the wonderful...
A Jillian Dollars Let me ask you a question: What would you do with a jillian dollars? Before I give you my answer, I wanted to tell you a joke. Recently we heard a broadcast come in over the TV that said that six Brazilian workers were injured in a training exercise. My daughter looked up at me with a look of concern and said, “That’s terrible. How many is a Brazilian?” ...