Private Lenders' Podcast

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 databa...

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...

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 institution...

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 the...

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...

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 h...

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 employe...

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...

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 inst...

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 b...

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...

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...

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 optio...

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 t...

In this episode of Private Lenders' Podcast we discuss the importance of scripting when working with your clients.  Many lenders try to wear the 'I have the money, I make the rules' hat or try to be to much of a 'yes man'.  Either extreme will limit your  deal flow or make your borrowers try to take advantage of you.  Its important to understand that you control capital your borrowers need access...

In this episode Jason & Chris emphasize the importance of raising the 'right' capital for your hard money business.   Not all capital is equal and cheaper capital is certainly not better even if its more profitable.  Hard money lending companies are typically capitalized through:  private lenders, your own funds, bank funds, institutional backed funds, ira funds, leveraged funds, etc..  We go thro...

This episode was originally a private, live Mastermind call we did with our group of private lenders from around the country.   We dive into some fun items related to what we are currently seeing in the lending industry locally and nationally . Why there is a ton of opportunities currently What should lenders do today to give you a step up on your competition  Current Marketing strategies working...

On this episode of the Private Lenders' Podcast we check in with updates as we have seen them through the end of May.  Seems like real estate has continued to be 'open' and buyers and sellers have continued to buy and sell houses.  Inventory is low and its almost seems like a sellers market (at least in the DC and Baltimore area).   Private lenders are continuing to find and fund great deals for s...

In this episode we go through some recent adjustments we have made internally in our business.    We discuss: New Underwriting criteria (new LTVs and other requirements) Operation updates (working from home, electronic docs, Zoom meetings etc..) Staying up to date and managing our Portfolio Investor relations Managing our Marketing Campaigns This and more on today's Private Lenders' Podcast..

In this episode of the Private Lenders' Podcast we focus on understanding the importance of leads and deal flow.  If you are raising capital, funding loans, buying houses, selling houses or even choosing tenants to occupy your rental properties or pretty much anything related to business, the more opportunities you have to choose from the stronger they will be.  Let us explain...  If you get 10 lo...

On this episode of PLP Jason and Chris passionately discuss playing offense and defense simultaneously in their lending business.   Its important to take care of your current loans and managing your portfolio effectively during these times.  Some loans will take more hand holding then usual to ensure payments and structuring workouts.  Offensively you will still need to be originating new loans. ...

We are currently in the midst of Covid-19.  Most of the institutional hard money lenders have paused originations or closed their doors.  There are a lot of opportunities for private capital right now (either your own or someone elses)..  This podcast was from a recent Mastermind call we did with our members.  Its all about preparing to raise capital after the virus passes and markets are recoveri...