Private Lenders' Podcast

In this episode we go through the importance of building relationships.  Relationships occur with borrowers, private capital investors, vendors, partners and even other hard money lenders.  One of the first things we did back in 2007 when we started was meet up with every other hard money lender in our market.  We learned about their business, shared our lending model, figured out what deals they preferred compared to what deals we preferred and how we could potentially help each other in the future.  You would be surprised how other lenders end up being more of your ally over your competition.  Some lenders are looking for more deals while others are looking for more capital.   Tune in now... Check out our new free platform.. hardmoneymastermind.com  

As you grow your capital base you will probably run into family offices.  We discuss who/what family offices are, the pros and cons of working with them and case studies with some of our experiences with them.  We have deployed capital from some family offices while others weren't a great fit for us to work with.  Tune in now... Sponsored by:  www.HardMoneyMastermind.com  

As hard money lenders we need to be creative when it comes to loans in default status.  We need to understand the current condition of the property, the intent of the borrower and an action plan to cure the loan.  Although foreclosing, judgements, deed in lieu are options... that might not necessarily be the best plan of action.  Tune in now to hear some strategies we practice on defaulted loans and case studies to help you on your next defaulted loan. Sponsored by:  hardmoneymastermind.com

First and foremost... no matter what type of business you are running you need to have a database.   Hard money lending is no exception and we can't emphasize the importance of growing your potential customer database with real estate investors, agents, brokers and professionals that may be interested in your services today or in the future.  We go through tips and trips on how to grow your database, how to stay in front of them regularly and many reasons why its so important and really the only way to grow your lending business. Make sure to pick up our new free book at www.hardmoneyfreebook.com 

Jason and Chris breakdown exactly what they look for when underwriting private or hard money loans.  Their loans are against investment residential and commercial properties and they follow the 4'c (in order of importance) Collateral Character Capacity  Credit Tune in now to see their breakdown Make sure to pick up our new free book at www.hardmoneyfreebook.com 

As a private or hard money lender you should strive to review multiple lending opportunities daily.  By doing so you need to quickly analyze and quote these opportunities.  Tune in now to hear how we analyze close to 1,000 inquiries monthly and quote them quickly.  Unfortunately most deals you review won't go anywhere so you want to make sure you are spending your time on the right deals that have legs and ability to close on. Tune in now..  Check out our new book.. www.HardMoneyFreeBook.com

Chris and Jason go through a few good questions that came in during Januarys private Mastermind group call. - What are some advantages and disadvantages of the different funding models?  Fund, PPM, Direct Placement etc. - Lending through different capital sources... ex.. raising private funds, lending your own money, brokering through institutional backed lenders, table funding through institutional backed lenders, etc... -During start up time what are the first steps to getting deals closed. Tune in now to hear this weeks Private Lenders Podcast. Check out our new free book at www.hardmoneyfreebook.com .  Just pay the small shipping fee.

If you have been a private lender long enough you recognize that defaults are inevitable.  As they come up they have to be treated the right way and typically end up working out fine.  Its important to be able to communicate directly with your borrowers to understand their challenges but also to be stern that curing the default is important.  Chris and Jason go through a lot of tips and tricks they have learned over the years while running Hard Money Bankers.   If you haven't check out our new book, get your copy at www.hardmoneyfreebook.com

In this episode of the Private Lenders Podcast we discuss the 3 must do marketing strategies and why time is of the essence.  These strategies apply to newer hard money lenders and established lenders.  The principles are very simple but important to start and expand on them... **Teaser** 1. Establish web assets.. aka website, social media profiles, etc.. 2.  Attend Meetup groups.  Raise your hand and tell folks you have/have access to capital and there will be a line out the door to talk to you. 3.  Create a email list Just do it... It will pay off

As we reach the end of 2020 we wish everyone a Happy New Year and look forward to watching everyone succeed as hard money lenders into 2021.   In this episode we discuss how we wrap up our year end opportunities inside Hard Money Bankers and how we goal set and stay focused going into the next year... We discuss: - Finance/Accounting - Marketing and Sales - Business planning for next year If you haven't gotten you copy of our free book... go to www.hardmoneyfreebook.com