Episode 030 - Hard Money

When you’re dealing in real estate, the simple truth is that money solves problems. As a real estate agent, knowing where to get money when you need it and what kind of relationship you have with money can be the difference between solving a problem and losing a client. You have to know what your options are and how you can best use them. So, this week we’re going to talk about hard money and how it can be used in thinking outside the box to create solutions for those problems’ money can solve.
 
What is Hard Money?
 
Hard money is a short-term loan that can be borrowed from a non-traditional lender at high interest rates. Since the money isn’t coming from a normal lending source like a bank, the terms for establishing that credit can be different depending on the situation and the lender. These loans are regulated under consumer protection laws and can only be used for non-owner-occupied houses, so it’s meant to be used for investment properties.
 
For agents, this can be a powerful tool if nurtured correctly. Finding a hard money lender that you can depend on means building a relationship based off sound judgement. This falls under the investment side of the business, the side that most agents have trouble slipping into once they’ve gotten the hang of the traditional side of the business.
 
Lean on Experience Where You Can
 
In the podcast we go over some scenarios about where hard money lending can be used to find a unique solution for clients even in the market we find ourselves in today. So much of what’s possible on the investment side of real estate is not what you’d learn just working deals and selling houses. We always say that you don’t know what you don’t know, so building relationships within the business where you can lean on and learn from experience is key to building that skill set of outside the box strategies.  
 
Let us know if you’d like to hear more on this topic, or if we can address any specific questions you might have through our social media or by leaving us a comment. Want updates on future episodes and interviews? Text OTB to 602-560-7027 and connect with us!
 
“If you're a real estate agent, your relationship with money is critical even if you're not ready to use it, because money solves problems.” – Steve
 
“So, listen to this for a second, it's probably the greatest wealth building tip I can give you as an agent: so many people focus on the percentage rate of what they're paying for money and not knowing what the long-term outcome is.” – Steve
 
“Learning about (investment) not only gives you the ability to create solutions for your clients, but you're going to be able to build wealth for yourself. I mean, that, to me is the name of the game in and of itself is the whole thing. It should be about how are you creating that legacy, wealth and income?” – Bernie
 
I've got people that I can bring our way like and learn and find out, ask questions, find people in your brokerage that do this, ask them if they do it, find some of your clients, ask them. What's crazy is if you as an agent talk to people that you've already done business with, and ask them, let's say you've sold them, sold their home or helped them buy a home. And if you ask them, if they own an investment property, you will be shocked at how many of them are already doing this without your help.” - Bernie
 
 
Steve’s Instagram: https://www.instagram.com/stevedvalentine/
Bernie’s Instagram: https://www.instagram.com/bernzpix/
 
You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!

When you’re dealing in real estate, the simple truth is that money solves problems. As a real estate agent, knowing where to get money when you need it and what kind of relationship you have with money can be the difference between solving a problem and losing a client. You have to know what your options are and how you can best use them. So, this week we’re going to talk about hard money and how it can be used in thinking outside the box to create solutions for those problems’ money can solve.

What is Hard Money?

Hard money is a short-term loan that can be borrowed from a non-traditional lender at high interest rates. Since the money isn’t coming from a normal lending source like a bank, the terms for establishing that credit can be different depending on the situation and the lender. These loans are regulated under consumer protection laws and can only be used for non-owner-occupied houses, so it’s meant to be used for investment properties.

For agents, this can be a powerful tool if nurtured correctly. Finding a hard money lender that you can depend on means building a relationship based off sound judgement. This falls under the investment side of the business, the side that most agents have trouble slipping into once they’ve gotten the hang of the traditional side of the business.

Lean on Experience Where You Can

In the podcast we go over some scenarios about where hard money lending can be used to find a unique solution for clients even in the market we find ourselves in today. So much of what’s possible on the investment side of real estate is not what you’d learn just working deals and selling houses. We always say that you don’t know what you don’t know, so building relationships within the business where you can lean on and learn from experience is key to building that skill set of outside the box strategies.  

Let us know if you’d like to hear more on this topic, or if we can address any specific questions you might have through our social media or by leaving us a comment. Want updates on future episodes and interviews? Text OTB to 602-560-7027 and connect with us!

“If you're a real estate agent, your relationship with money is critical even if you're not ready to use it, because money solves problems.” – Steve

“So, listen to this for a second, it's probably the greatest wealth building tip I can give you as an agent: so many people focus on the percentage rate of what they're paying for money and not knowing what the long-term outcome is.” – Steve

“Learning about (investment) not only gives you the ability to create solutions for your clients, but you're going to be able to build wealth for yourself. I mean, that, to me is the name of the game in and of itself is the whole thing. It should be about how are you creating that legacy, wealth and income?” – Bernie

I've got people that I can bring our way like and learn and find out, ask questions, find people in your brokerage that do this, ask them if they do it, find some of your clients, ask them. What's crazy is if you as an agent talk to people that you've already done business with, and ask them, let's say you've sold them, sold their home or helped them buy a home. And if you ask them, if they own an investment property, you will be shocked at how many of them are already doing this without your help.” - Bernie

Steve’s Instagram: https://www.instagram.com/stevedvalentine/

Bernie’s Instagram: https://www.instagram.com/bernzpix/

You can find us on all the major Podcast apps: Apple Podcasts, Google, Spotify, Stitcher, and more! Subscribe to be notified when new episodes are live and leave us a review and 5-star rating to help the show grow!