Tag Archives: investing

This must be an actual deal with contracts and supporting documents. If you do not have the documentation you do not have a deal. You have a dream. Once you have the documents proving you have a deal, do you have research laying out why it is a good deal? Finally, what is your plan for the deal?

Borrowers are evaluated based on the 3 C’s of Credit: Character, Capacity and Capital. Some gurus selling courses on how to find private money say credit doesn’t really matte; you need equity in the deal (collateral for the lender) and you will have no trouble finding money. Not to be too indelicate but that brings up another C—Crap. Here is an explanation of the 3 C’s of credit and how a private lender may use these criteria to evaluate your project, decide whether they will fund it and, if they will fund, how they may structure your deal.

The investors I lend to are a diverse group. I usually have an existing relationship with the investors I fund. I’d like to clarify some terms: Hard Money, Hard Money Lender, Points, Private Money Lender. How do I evaluate a potential loan? My decision is based on three factors: the borrower, the deal, and my plans.

I lend to strengthen a relationship with a fellow investor. That’s right. Lenders want to partner with investors. I have to invest and am not interested in taking chances on the stock market. Why not lend the funds to a real estate investor and form a business alliance? Private money is, primarily, about relationships.

I am a private lender. I am not wealthy. The first deal I funded was for $50,000. That may seem like a lot of money but you probably come into contact with many people every day who have $50,000 and many of them will be happy to lend to you if you find an appropriate deal and present it correctly. Really. This is part 1 of 6.

RDI Podcast Ep91: Barry Flavin

This week I sit down with Barry Flavin and chat about buying 13 houses in one year.

Show Quote of the Week:

“All you need in life is ignorance and confidence, then success is sure.” Mark Twain

This week I sit down with Jan Dijkers and we discuss surviving hard times, lawsuits, investing in real estate, the fall and rise of downtown Detroit, development projects in Brush Park and Woodbridge, flipping, building a property management company, selling $6 million in real estate last year, and more!

This week I go over investing in Detroit single family homes. From A, B, C properties, different investment strategies, building or buying a team, how to avoid the Jackals of Detroit, and who shouldn’t invest in Detroit.

This week I sit down with Jeremy Cronin. We chat about investing in Detroit from Europe, how he made his decisions to buy as an international investor, and why!

January 2016 Renegade Detroit Investor Meeting. Let’s keep it real. We go to networking events to meet new people and make more money. All the frills and distractions have been ruthlessly cut.

This is the 2nd part of a 6 part series on wholesaling. This episode focuses on talking to sellers by covering how to get the information you need, how to overcome objections, how to get sellers to make decisions, and role playing!

This week I sit down with Mike Cowper, wholesaler and real estate investor. We talk about wholesaling, flipping, phone sales, systems, what to say to sellers, and more.