BTM 75: The Closest Thing to Guaranteed Money: Pros & Cons with Ryan G. Wright
Almost 10 years ago, Ryan G. Wright started investing in fix and flip properties. He soon saw that it was difficult to get funding quickly on these properties, much less from reputable and reliable sources. The solution was Do Hard Money, a private hard money company that offers short-term funding for real estate investors. Coming from a background of real estate investing, he understood the needs investors have. He wanted to provide a way for others to grow their real estate investing business by offering short term loans with no money down and no monthly payments. Ryan has been a featured speaker for Bank of America, CitiMortgage, Wells Fargo, Bank of America, Inside Mortgage Finance and the ReCaptivate Conference for real estate professionals.
On today’s episode, we talk to Ryan about the secrets to success (show up, show up on time and show up prepared) in getting started in investing in real estate. Ryan talks with us about the concept of using private lending and hard money rental loans to finance your real estate investment deals. You’ll also learn the pros and cons of investing in single family housing vs. duplex/triplex and multifamily deals. Lastly, Ryan shares with us how lenders can sometimes construct demand based upon how much capital they have available.
Key Points From This Episode:
- How investing in single family can be a better option than multi-units (tenants, turnover, cash flow, etc.)
- Why your goals shouldn’t never be tied to your self-worth
- The 2 ways you can use hard money lender to buy rentals (Low cash to close or hard money rental loan)
- What is a hard money rental loan (what is the process, requirements, terms, conditions, etc.)
Links Mentioned in Today’s Episode
Ryan’s Website: https://www.dohardmoney.com/
Ryan’s Favorite Books: Atlas Shrugged by Ayn Rand https://amzn.to/2OtPqmb
Ryan’s Favorite Lifestyle Design App: Audible is the largest selection of audiobooks and original audio performances anywhere! https://www.audible.com/
Freebie: Download any 2 audio books for free when you try audible for 30 days: https://beforethemillions.com/book
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BTM 55: How Friends and Family Can Fund Your Next Real Estate Deal with Jay Conner
Jay Conner has been buying and selling houses for 14 years and has been involved in over 52 Million dollars in transactions. In the past 7 years, Jay has completely automated his 7-Figure Income Business to where he works in his business less than 10 hours per week. He is a leading expert on Private Lending, once raising over $2M in less than 90 Days in private money while cut off from the banks. He is also a contributing author to the best-selling book Real Estate: Getting Deals Done In The New Economy.
On today’s episode, we talk with Jay about his journey into private lending for real estate investors. You’ll learn what exactly private lending is and how you can leverage this method in your own real estate investment deals. Jay talks about his transition from investing in mobile homes to single family homes. You’ll learn how Jay raised $2,150,000 in less than 90 Days with his simple system anyone can duplicate. Lastly, Jay shares the advantages of private money vs. other types of lending for real estate investors.
The advantages of using private money as a real estate investor:
- You make the rules (you set the interest rate, terms, etc.)
- There’s no limit to the number of private lenders you can do business with
- Not regulated by the commissioner of banks (not an institution, only individuals)
- Get multiple checks on every deal that you do
- Your credit score has nothing to do with how much private money you can get
- No need to worry about your verification of income (you can be broke and jobless and still get private money)
- Easier to do business with private lenders
Key Points From This Episode:
- How Jay was introduced to the concept of private money
- What is private lending and how can you use it for your real estate deals
- The different ways you can attract private lenders
- The “magic private money question” every real estate investor must know
- How to better position yourself to raise more money
- The advantages of using private money vs. other lending types
- How to buy properties using creative financing for your deals without going through the bank
Links Mentioned in Today’s Episode
Jay’s Website: Jay Conner
Favorite Book: University of Success
Favorite Lifestyle Design App: Simple Crew
Access The Best Strategies, Tips & Advice!
Every week, we send an email sharing my best advice, tips and strategies related to Real Estate Investing. Each of these weekly emails contain relevant and actionable information that can help you no matter where you are in your investing journey.
Sign up to join our community