Private Lenders' Podcast

There are many ways to make money through private and hard money lending.  It will depend on you to determine which sources are best for you.  On this episode we discuss: 1) Brokering loans 2) Lending your own money out (actively or passively) 3) Running your own hard money lending operation (raising other peoples money or using your own). Tune in now and enjoy!...

On this episode of the Private Lenders' Podcast we discuss the 2 common capital investor types that work the best for us.  We go through the traits and advantages of working with both 1) active investors and 2) passive investors... and discuss which personality types help identity them and make them good partners to work with on our loans.

In this episode we answer your questions... Managing and running the office/employees for maximum effectiveness and efficiency. Software used for payroll. Software used to track all the HR info we need to track about our employees (I9’s, SSN’s, addresses, etc.). Pay for admin employees. Commission for sales people - base salary plus commission? Hourly rates for regular employees? What kind employees should we be hiring (bookkeeping, sales, processors, etc.)? And in what order Who should I target for potential capital investors Tune in now... To get involved with hard money lending checkout our Mastermind group at www.hardmoneymastermind.com  

On this episode we take questions from members of our mastermind group.  Can you share the process for each step of your marketing plan. Maybe a 1.0, 2.0 and 3.0 plan for the folks that are just getting started to the more experienced respectively. How to market for QUALITY borrowers. I find it easy to get people to apply. But… How do I get the apps to weed themselves out better? It’s a big waste of time to have to filter through so many bad deals every day. Tune in now...

In this episode of the Private Lenders Podcast we chat about some recent loan closings  Being a back up lender or a 'Plan B' lender is actually a good thing.  The story goes like this... A potential borrower comes to you looking for a loan... you quote them what you are comfortable lending and the terms you want... they decide to shop it around and find a cheaper, higher leverage loan from an institutional backed lender.   They go down that path, ordering an appraisal and dealing with red tape headaches until they come to find out a few days before closing that the loan is turned down for one reason or another... THEN they call you back with a slight panic to save their deal... You get to fund the loan now on your terms and look like a hero.    This is common story weekly inside our business.   Tune in live now to hear more about this topic....

Marketing, marketing, marketing is the most important part of business.  It doesn't matter how good  your product, service or widget is.  If know one knows about it you are doing a disservice to everyone.  You can't just hope someone will find your website, phone number or business.  You need to take your marketing efforts seriously.   Now, the good news for private and hard money lenders is the barrier for entry isn't all that high.  Tune in now... Sponsored by www.hardmoneymastermind.com 

In this episode we discuss building important long-term relationships with your capital investors.  It sounds like common sense that long-term relationships are important but so many private lenders, hard money lenders and real estate investors just look at each deal as an individual transaction and not as a partnership.   The right relationship is key to any successful deal or partnership and we go through some tips on how we continue to build trust and relationships with our investors (partners).

In this episode of the Private Lenders' Podcast we discuss the importance of properly positioning the conversations with your private capital sources.   It doesn't matter how good your deals are.. if you don't position your conversations correctly then your investors will never want to invest capital through you or will walk all over you knowing they control the situation.   Also, there may or may not be a free surprise at the end.  Tune in now... Sponsored by www.hardmoneymastermind.com

Depending on what part of the country you are lending in you probably have seen a slight up tick in leads or quality clients reaching out to you.  Although there are still institutional backed lenders in the game their underwriting criteria's have tightened up and terms have increased.  It has reduced the gap so that many active real estate investors are out there looking for other financing options.  Remember, most good clients/borrowers/real estate flippers have access to bank money, private capital, lines of credit and their own funds BUT also need hard money at some point.  We dive into this and more on this weeks episode of the Private Lenders' Podcast. Sponsored by your friends at www.hardmoneymastermind.com  

In this episode Jason and Chris breakdown how they have been running Hard Money Bankers virtually.  It has been an interesting approach with our staff working remotely and have to develop new systems and processes to make sure they are operating efficiently.  Tune in now to hear their current setup, how they are originating new business, working with capital investors and how they are continuing to manage their loan portfolio. Sponsored by www.hardmoneymastermind.com