#84 with Alexandria Breshears: Discovering the Incredible Beneftis of Hard Money to Building a Private Lending Business

Millennial Millionaire Real Estate Podcast

English - September 30, 2020 18:43 - 46 minutes - 84.7 MB - ★★★★★ - 56 ratings
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Previous Episode: #83 with Mark Perlberg: How to Develop a Tax System to Enable Financial Freedom & Pay Little to No Tax for Real Estate Investing

Next Episode: #85 with Steven Huang: Started Investing at Age 17 to now Owning and Managing 40 Doors by Age 25

In this episode, Jonathan Farber interviews Alexandria Breshears on her road from discovering hard money lending at a REIA meetup to seizing a unique opportunity and creating her own private lending business. Alex is a private money lender based in Virginia on a mission to educate real estate investors. In this episode, we dive into topics like: building a private lending business, hard money vs. private money, making use of private lending, and more!

Top Takeaways:

Starting off in private lending - 11:00 - 14:40

Your first priority should be to decide what you want to lend on

This will quickly narrow down the initially vast array of deals you’ll be offered

Next, find an attorney to guide you through your local usury laws

Generate a barebones template for your mortgage agreement and promissory note

Understanding hard money vs. private money - 15:45 - 17:30

Hard money is lent by a company and often comes from outside the company you sign with

This creates much less flexible offerings with strict criteria

Private money belongs to the lender, giving them much greater control over terms

Private lenders can often accommodate the unusual circumstances of real estate

Utilizing private lending - 17:45 - 20:00