Private Lenders' Podcast

As lenders we underwrite our loans conservatively to prevent any sort of default BUT its inevitable to happen.   Some defaults may be minor (missed a payment, over the loan term etc...) while others may be worse (walked away from the project, seriously behind in payments, etc..)  You can make a business decision on how you want to default your client/borrower but its important to have options.  Your loan package (prepared by a competent Attorney) should have everything in there to protect you.  Your mortgage/deed of trust recorded as 1st lien position, promissory note outlining default actions, guarantee agreement to file judgements etc... Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com

How are you pricing your loans? The private money rates are more competitive than ever currently. The institutional backed capital rates have really increased over the past few months so many borrowers would rather use private capital for the ease of the transaction. We dive into what we are seeing locally and throughout the markets we lend in. Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com

We discuss the ways for you to become the best private or hard money lender.  The scale is not based on loan volume or closed loans but based on what you want to acheive.  They are typically 5 domains to master (not perfect but to master).  Marketing, Underwriting, Accounting/Finance, Capital Raising/Investor Relations and Legal.  Remember- Mastering something typically means you are 80% proficient at it and is very doable.  You don't have to be perfect.  Quick tip:  "Who ever has the most deals will have the best deals" Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com

We interview Derek Dombeck from Best REI Funding.   They are doing over $25 mill of private loans yearly just in the state of Wisconsin.   Derek has a lot of interesting insights he shares related to his business growth, how his team is setup and who their target client is.  They are constantly raising new capital and working to expand their loan portfolio.   Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com

Do you like doing things the easy way or the hard way? Over the years we have had multiple business coaches, mentors and consultants help us with different aspects of our business. Instead of fumbling through certain areas of our business we have hired experts or attend events or masterminds to help short cut it. We have been running our online hardmoneymastermind.com group (free and paid options) and due to popular demand will be hosting an in-person mastermind group for private & hard money lenders locally in Maryland on November 3-4th. Details, qualifications and to apply can be found at http://www.hardmoneymastermindinnercircle.com

Jason and Chris discuss the importance of borrower/client quality. Lots of private and hard money lenders are only focused on collateral (which by far is the most important part of underwriting) but fail to adjust loan amounts off the quality of the borrower. We discuss borrowers capacity, characteristics and credit. Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com

We discuss what happens during a changing market. If you have used secondary market capital you probably noticed that a lot of it dried up and the remaining capital is more expensive and more conservative. If you are only using private capital you have a huge advantage. We have seen an uptick of quality borrowers and deal quality. This is how we are reacting. Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com

Our partner Ryan came down to our office this week and got a chance to throw him on camera to interview him.   We discuss:  1) Why he originally wanted to get into private lending  2) What was ingrained in his head early on during start-up time  3) Best daily practices to continue to grow his portfolio Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com

In our experience the smaller deals tend to have the biggest headaches.  That doesn't mean they don't perform and default.  It does mean that we have headaches along the way.   We prefer to lend to experienced operators, with good credit, solid characters on good assets (in good median priced neighborhoods) Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com

Properly communicating with your borrower clients and private capital investors is so important. More over, you have to make their lives easier when they borrow from you or invest with you. We go through how we communicate, how often and the best ways too. They easy hacks will help you increase your lending business. Tune in now and watch the full video podcast at www.privatelenderspodcast.com If you enjoyed this podcast we would appreciate a positive review...  https://podcasts.apple.com/us/podcast/private-lenders-podcast/id1476153070 Make sure to check out the #1 Free Community For New and Experienced Private and Hard Money Lenders.. Create your free account at www.hardmoneymastermind.com