342: How to Buy Real Estate WITHOUT The Banks (Private Money Explained)
Real Estate Rookie
Understanding Private Money Lenders and Vacation Rental Ownership
Learn about private money lenders and their role in real estate investing, as well as a unique vacation rental ownership model offered by Summer.
Need flexible funding for your deals? Private money could be the answer. Whether you’re looking to dodge the bank or want greater control over the terms of your deal, that’s exactly what this creative finance option can provide. Our hosts can vouch for it!
Welcome back to the Real Estate Rookie podcast! Today, we’re taking a deep dive into private money—the creative finance solution that allows you to fund more deals without huge down payments or stellar credit. Tony and Ashley share how they discovered private money and why it’s their go-to financing option today. If you’re looking to borrow funds, our hosts will show you how to find private money lenders, how to structure your private loans to benefit both parties, and why this financing solution is the PERFECT stepping stone for a future investing partnership.
In this episode, you’ll also learn about the three essential documents for all private money loans, as well as how to approach your lender about structuring a deal. But that’s not all—this masterclass is for the private money lenders, too! Tony and Ashley discuss ways to protect yourself in a deal and how to ensure that you get your money back. Finally, you’ll learn when not to lend private money!
In This Episode We Cover:
How to get 100% financing for your deals using private money
The differences between traditional bank financing, hard money, and private money
How to find a private money lender for your next real estate deal
The three documents you NEED for any private money partnership
The best ways to protect yourself when lending money
Crucial tax advice for those using private money for their deals
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Ask Us Your Investing Question
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Private Capital Explained: The 4-Second Pitch to Unlock Unlimited Funds (Part 1) w/ Amy Mahjoory
Private Money Explained: 5 Simple Ways to Find Private Money (Part 2) w/ Amy Mahjoory
Private Money Explained Part 4: Rates, Returns, and Protecting Investors w/ Amy Mahjoory
How to Buy a Rental Property with NO Money OR Credit w/ Pace Morby
Making $71K on ONE DEAL After 5 Failed House Flips and Six-Figure Debt w/ JP Desmet
Generate Your Own Loan Amortization Schedule:
Books Mentioned in the Show
Real Estate Partnerships by Ashley Kehr & Tony Robinson
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-342
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
The AI-powered Podcast Player
