PRYME Homes
November 20, 2019

How to be a great Private Money Lender - AIJ037

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SUMMARY

In episode 37 of An Investors Journey Podcast, we'll share How to be a great Private Money Lender!

Recently, at a local event that we were speaking at, an investor approached us and said, "I have my money currently lent out on another project but, if I get back I would love to lend to you." The keyword to focus on here is IF!

We want to make sure that if and when you decide to lend money that you are always protected and KNOW that you're getting your money back.

In this episode, we will cover:

  • The full story of this investor
  • Why you should consider private money lending
  • Vetting the investor you're lending to
  • How to protect yourself
  • Verifying the numbers on the project
  • What are interest rates and points
  • When to get paid back
  • Risky loans
  • Setting expectations
  • Time limits

At the end of the day, YOU are responsible for your investments and the decisions you make.

Don't be lazy or you will lose your money.

Always, always, always, do your own due diligence and if you don't know ask for help.

As always, if you have any questions just ask!

Enjoy!

DID YOU KNOW?

We have walkthrough videos of projects we have done and are currently working on. We share our scopes, pricing, strategies, problems, and successes. Check them out here http://bit.ly/PropWalkthrough

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