“If you do it right, it doesn’t take long until you have more money than you’ll have deals.”
In 2006, Brant decided to do EVERYTHING he could to jump into real estate investing with the ultimate goal of quitting his 9 to 5 job.
Spoiler: He succeeded. And he’s come a long way since buying his first investment property with a credit card (yes, REALLY!). Raising private money was key to his success, and in our Facebook LIVE training session, he gave us the full scoop.
Brant discovered the 2 things that all private money lenders are attracted to: trustworthy people and finding good deals.
After hundreds of successful deals, Brant created his own investor-focused construction company, Invest Home Pro, that earned a spot on Inc. 5000’s list of America’s Fastest-Growing Private companies.
During this Ask Me Anything session, Brant discussed many hidden secrets of private money lending and the key to earning private lenders’ trust. Brant also highlighted essential tips and common traps to keep in mind as a new real estate investor.
Did you miss it?
No worries… You can view it here and here. (Note: Due to technical difficulties, the session is split up into two videos.)
Brant made a special announcement at the end of the training. Get the full scoop about his secret private money project here: secretprivatemoneyproject.com
Watch our talk with Brant and learn…
- What private money lenders are looking for when investing
- How to market your business
How did you get started in real estate? [1:00]
What is the most important thing to know about private money and partnerships? [2:48]
What were your first few deals and partnerships like? [3:33]
Splitting deals with partners/progression of real estate investors [4:40]
How did you form your partnerships and start fine tuning your pitch? [6:38]
Marketing your business means having a lot of conversations with people. [8:07]
One of the biggest takeaways: watching the competition [10:14]
Watch our talk with Brant and learn…
- The benefits and challenges of private money lending
- The role of credit in getting private money
- How repair costs factor into private money loans
- Whether to make a deal with accrued interest or monthly payments
- How to create the terms for a private money loan
- More about using self-directed IRA’s
- What to do when you have multiple lenders on a deal
Brant discusses exactly how to best structure and negotiate private money deals with lenders. He even shares the actual percentage and points he aims for when working with lenders and the mindset he believes every investor should have.
Below, we’ve included the main topics Brant discussed in his session so that you can skip to the parts you’re most interested in learning about…
(Note: Video 2 overlaps with Video 1 until about 8:35)
Starting out with partnerships [0:32]
Progression of real estate investors/Splitting deals with partners [2:10]
Most important thing to do when you’re first trying to raise money [5:27]
Learning about self-directed IRA’s (the ideal kind of money) [8:35]
What is the best way to structure private money deals when securing it from friends and family? [13:03]
Commitment to private lenders and trust [17:23]
How do you get private money? [22:32]
The trap that new investors fall in [28:16]
What qualifies you in the lender’s eyes for them to consider giving you money? [30:30]
Role of credit in getting private money [34:18]
Does the loan cover repairs? [36:01]
Does a self-directed IRA and someone you know lending you cash work the same way? [39:54]
Lenders and a draw system for repairs [40:39]
Creating deals with accrued interest v. monthly payments [44:04]
Creating terms for deals/disclosure statements [46:46]
Optimal mindset when borrowing money [57:12]
Managing multiple lenders on a deal [1:06:22]
If there’s ONE thing you can take away from Brant’s expertise and advice, it’s this:
Have conversations with as many people as possible to establish trust and reliable relationships with new private money lenders.
Brant made a special announcement at the end of the training. Get the full scoop about his secret private money project here: secretprivatemoneyproject.com
