The Private Lender Podcast

  When you buy a property, you want to be sure that it's free of any debt and lien. This is where title insurance comes in. You don't want to wake up one day, and your pool is torn down because it was built over a utility easement. Or the heir of the seller comes in and reclaims what is theirs. Title companies prevent these things from happening. Join your host, Keith Baker, and his guest, https://www.linkedin.com/in/rachel-luna-39a0436/ (Rachel Luna), on the importance of title insurance. Rachel is the Agency Development Manager of https://www.patriottitletx.com/ (Patriot Title). As The Texas Title Queen, she drops a ton of knowledge and discusses the parts of a title policy, what is covered, what is not covered, and why you need title insurance when you purchase a property. Learn the schedules of a title property and why title insurance is a must. If you're a lender, you better listen to this episode. --- Know The History Of Your Property With Title Insurance With Rachel LunaThe Texas Title Queen Breaks It Down For Lender NationI would like to thank you for sharing your time with me. If you're looking for practical tips and advice on how to put the power of the banking system into your investment accounts, then you are in the right place. If you want to learn from my mistakes so that you can both avoid them and profit from them, then pull up a chair and pour yourself a drink, my friend, and take some notes because this show is for you. I'm dedicated to giving people, like you and me, the knowledge and confidence for successful and profitable private lending. In this episode, I sit down and talk with the Texas title queen, Rachel Luna from https://www.patriottitletx.com/ (Patriot Title Company), who has graciously agreed to come on this episode and drop a ton of knowledge around the topic of title insurance, what it covers, what is not covered and where to find things in the policy. Before we get to the heart of this episode, first, a little bit of housekeeping, number one, I'm about to lose my voice. The kids had a soccer tournament. They won the first two games and lost in the third. However, it was exciting. It was a blood pressure event. It was a good tournament. I'm proud of the kids but I shot my voice. I threw it out. Rather than waiting, I figured, “I'm going to make everybody suffer with me.” That's the first bit of housekeeping. The second bit of housekeeping is, have you joined the Private Lender Podcast Facebook group? If you haven't, why the hell not? Simply search in Facebook Groups for https://www.facebook.com/groups/674936429994760/ (Private Lender Podcast), click on Join. Answer a few questions to let me know that you are a private lender and not looking for deals or looking for money and not looking to boost up your groups, but going to help add value to the community. Answer those questions, I'll let you in and then let you get started. While you're at it, head on over to http://www.PrivateLenderAcademy.com (PrivateLenderAcademy.com) and click on Apply Now to learn more about putting the power of the banking system into your investment accounts or get some one-on-one time with me, I can answer your questions and show you my mistakes. That's http://www.PrivateLenderAcademy.com/apply (PrivateLenderAcademy.com/apply). The housekeeping is finished and now it's time to get to the heart of this episode. Our guest has been providing title insurance and escrow services for Houston area investors for about as long as I can remember. I caught up with Rachel Luna at the FlipCo Financial Meetup and was excited that she agreed to come on and talk about title insurance. For the simple reason, everyone, including me that says that you must have it, but very few people understand why you need it. I'm going to let Rachel answer that for you. I think you're going to enjoy this. She is dynamite. She is Miss Personality. She has a pistol, a load of fun, is very energetic, knowledgeable and smart. I'm going to...

Writing a book can help you attract private money lenders and motivated sellers so you could win the marketing game in real estate. Today's guest, https://dealschasingyou.com/rei-book-writing-checklist/?ref=podcast&affiliate= (Max Keller), proves that. Max Keller is a real estate investor, best-selling author, and business coach. In this episode, he joins Keith Baker to discuss utilizing books as a lead generation technique and how to get prospective sellers to trust you so you could stand out among competitors. He also shares the two ways to get deals through hunting and trapping. He explains how he gets deals through the use of different methods giving them a network of people. Tune into this episode so you could have the opportunity to build great relationships and make your business grow too! --- Listen to the podcast here:Utilizing Real Estate Books For Lead Generation And Beating Competition With Max KellerMax Keller Utilizes Books To Get Sellers To Know, Like And Trust HimI want to thank you for sharing your time with me. If you're looking for practical tips and advice on how to put the power of the banking system into your investment accounts, then you are in the right place but if you want to learn from my mistakes so that you can one, avoid them and two, profit from them, pull up a chair and pour yourself a drink because this show is for you. This show is dedicated to giving people like you and me the knowledge and the confidence for successful and profitable private lending, the most passive form of real estate investment known to man. [caption id="attachment_3186" align="alignleft" width="200"] Home To Home: The Step By Step Senior Housing Guide[/caption] In this episode, I sit down and talk with https://www.linkedin.com/in/max-keller-567760154/ (Max Keller), who's up in the North Texas area, the Dallas-Fort Worth Metroplex. Max is using a very unusual strategy for finding his deals and that is to use books to get his sellers to know, like and trust him. Before we dive into the heart of this episode, I got to do a little housekeeping and need to ask you, have you joined the show's Facebook group? Why the hell not? Simply go to Facebook Groups and search for https://www.facebook.com/groups/674936429994760/ (Private Lender Podcast). Answer a few quick questions so that I know you're serious and can follow instructions and you will be let in. You'll get to hobnob and mingle with private lenders from all over this great country of ours. We may be divided but it's still a great country. If you want to get your private lending off the ground for possibly some opportunities to bounce a few ideas off of me or perhaps we could even go down the coaching road if you like, please go to http://www.PrivateLenderAcademy.com (PrivateLenderAcademy.com) and click on Apply Now. It's time to get down to the brass tacks of this episode. Max Keller was recommended to me by someone I held dear in the podcast industry. Julie Houston, thank you. She has helped me out in ways, mindset, technical, process, things that I wouldn't think of. She hasn't charged me a dime for it. All of her advice has been for free, maybe a lunch or two here or there. Considering the value that I've received from Julie, I'm in the deficits. Julie, thank you. A big shout out to you. Thank you for introducing me to Max. This has been a game changer in many ways for me. Thinking about this helps expand the mindset into what's out there. I'm babbling already. It's best to get to the interview, let Max discuss and describe how he uses books and how he's helping his students to get some solid leads, generating some nice leads for some nice property acquisition. Let's go ahead and jump into the interview with Max Keller. -- Lender Nation, I am pleased to have https://www.linkedin.com/in/max-keller-567760154/ (Max Keller) on the show, who was formerly a teacher and now is a full-time real estate investor but more importantly, he can teach you how to...

Is This The New Normal? Hello Private Lender nation and welcome to episode 137 of the Private Lender Podcast, I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today. Love the show? Subscribe, rate, review, and share! http://privatelenderpodcast.com/blog/how-to-subscribe-rate-our-podcast-5-stars-on-itunes/ (Here's How ») If you're looking for practical tips and advice on how to put the power of the banking system into your investment accounts, then you are in the right place. But do you want to learn from my mistakes so you can both avoid and profit from them? Well then pull up a chair and pour yourself a drink, my friend. Because this podcast is just for you, as I am dedicated to giving people just like you and me the knowledge and confidence for successful and profitable Private Lending. In today's episode, I will bore you and discuss some very recent conversations I had while on a trip to San Francisco and the Bay Area, and I heard some interesting insights from some friends of the show. But before we get to the heart of the matter, first I need to do a little housekeeping. 1 - Have you joined the Private Lender Podcast Facebook group? Well why not? Head over to the show notes for the link or simply search Facebook groups for the Private Lender Podcast. https://www.facebook.com/groups/674936429994760 (Private Lender Podcast Facebook Group) 2 – And, please head over to PrivateLenderAcademy.com and click on Apply Now to learn more about how to get your Private Lending off ground and for opportunities to receive coaching from me. http://privatelenderacademy.com/apply/ (Apply – Private Lender Academy) OK, the housekeeping is finished and now it's time to get down to the brass tacks of today's episode: Are we normal? I took a short trip and flew to San Francisco earlier in August and spent a few days catching up with some friends of the show as well as a few dear old friends who call the Bay Area home. And I caught an A's game against the Rangers, so I've now ticked 3 Major League Ball parks off my bucket list. I'm glad I was able to take the trip before the government tries to lock us down again, which brings me to the question I have for you, dear listener: Are we in the new normal, or are we simply in a bubble in the housing market cycle? I won't name any names yet as I haven't' asked whether I could mention names (you know, in case they are wrong) and I had the idea for today's topic and wanted to get this episode recorded and distributed so here we go: One position I heard, especially in the case of the Austin, Texas market, is that we are in the new normal. Austin will mimic housing in the Bay Area historically speaking, which means high prices are here to stay (at least in the Austin area) and they will only continue to rise. Then, I heard the belief that we are long in the tooth for this market and a correction is coming – a very popular opinion that many investors share. Especially those investors who lived through 2008 and the mortgage crisis. In the case of the Houston area, I did a little reading and have found the following:  Average house price up 14% 1 month of inventory (6 months is considered a stable market) 500,000 people move to TX every year Construction material shortage, lumber up 250% Days on Market are almost non-existent So, which side are you on? Are we in the new normal with prices continuing to increase? Or is there a correction looming? Connect with me on social media and let me know: https://www.facebook.com/PrivateLenderPodcast/ (Private Lender Podcast Facebook) https://www.linkedin.com/in/keith-baker-344944155/ (Keith Baker on LinkedIn) Or email me: keith@privatelenderpodcast.com. OK. Here's the deal, I don't charge money for this show, but there is a cost and I would be extremely grateful if you would help drive awareness to the show, to get the word out by leaving me an honest...

  Most people flip houses, become a landlord, or purchase properties to get the most returns in real estate. But for https://www.georgesalas360.com/ (George Salas), he found an incredible opportunity in short-term rentals, where a lot of people don't even consider. He joins Keith Baker to delve into how rent arbitrage increased his ROI significantly. He shares how he acquires his financing and puts together ample funding to keep the ball rolling. George also explains how he deepens relationships with the people that he trains, eventually building joint ventures. --- George Salas On Getting Long-Lasting Revenue Through Short-Term RentalsLearn How Rent Arbitrage Can Increase Your ROIIf you're a regular reader to this show, then you know that I do my best to keep the topics of the interviews either strictly private lending-related or at least interesting from a different investment or personal perspective. The topic of the episode is no different as guest http://www.GeorgeSalas360.com (George Salas) is flip and crushing it in the short-term rental space. I met him at a Mastermind in Key West and I'm happy that we connected. I got on the plane to fly to Key West. I did not want to go. It had extremely limiting beliefs and yet is one of the best things I've done. I love to know stories of innovators and how people pivot when times change or when they get bad, and given the recent COVID scamdemic and the current bubble and the retail housing market. It's a real disease. All that stuff is over 99% survival rate. It's a flipping scamdemic. We are in a bubble. I'm calling it. Greenspan said, "You can't see a bubble until you're beyond it or it's burst." I'm calling it a bubble. More than $50,000 above ask in the market is a bubble. You can bookmark this show and can come back to it and give me grief or cheer me on when I'm proven right. I couldn't think of a better time to introduce you to my guest and his business model. The best thing of all is that George Salas is crushing the short-term rental game right here in Houston, in H-Town, which makes my smile a little bit bigger. Let's go ahead and get down to the brass tacks of the show and straight to the interview with George Salas. --- http://www.GeorgeSalas360.com (George), welcome to the show. Thank you very much, Keith. It is an absolute honor to be here. I'm looking forward to you to explain your business model. That is, you don't flip, landlord, own or finance but you do short-term rentals. I'm going to give you the floor. Tell us how you got into real estate, short-term rentals and the basic mechanics of your business. My journey started when I was six years old. I'm sitting in the living room of my parents' house. My mom and dad pulled my brother and me aside and said, "Guys, we need to talk to you. You're going to go to your grandma's. You're going to stay there for a little bit." This is from a city by the name of Lima in Peru, the capital. We moved to a small town. It was just my mom. It was an environment where I get to stand by my dad. We left that city into a small little town and then the town was 20,000 people. I didn't get to see my father for nine years but he came back again into my life. We were moving here to the US. I came when I was fifteen. I wouldn't get to say bye to him twice and it affected me my entire life until I realized that I didn't need to be better for my dad. I didn't need to be in a place I'm good enough because I felt I wasn't good enough. I felt that because my father was never a great provider. We moved here. All through my young 15, 18 to 20, I was a grocery stacker. I worked at Kmart. Then I got into the nightlife and I invested in a nightclub. I was in the nightlife for ten years. I was the number one top promoter in Houston for 7 or 8 years. [bctt tweet="Bad decisions aren't as bad if you learn from them. Turn everything around and make something completely drastic." username=""] All of a sudden, I had the...

Hello Private Lender Nation!!!! If you're looking for practical tips and advice on how to put the power of the banking system into your investment accounts, then you are in the right place. But do you want to learn from my mistakes so you can both avoid and profit from them? Well then pull up a chair and pour yourself a drink, my friend. Because this podcast is just for you, as I am dedicated to giving people just like you and me the knowledge and confidence for successful and profitable Private Lending. In today's episode, we will continue with our monthly lesson from the book by George Clason's the Richest Man in Babylon. Today's lesson is the 5th cure for a small account balance, which is simply: Make your house a profitable investment, or in other words, own your own home. but before we get to the heart of the matter, first I need to do a little housekeeping. 1 - Have you joined the Private Lender Podcast Facebook group? Well why not? Head over to the show notes for the link or simply search Facebook groups for the Private Lender Podcast. https://www.facebook.com/groups/674936429994760 (Private Lender Podcast Facebook Group) 2 – And most important of all, the Private Lender Academy still needs some work before I introduce her to the world and therefore I'm departing from the original plan in hopes of getting the course to life. However, on August 17th at 7:30pm CST, I am holding a webinar/Facebook Live where I will begin to teach the principles of the academy. The purpose of the webinar is to get 10 committed people to opt-in to group coaching where I teach you everything I know about originating private loans. As a result of participating in the group coaching, you will help me refine the PLA and receive a free copy of the course once it is complete. I am looking for 10 students to form this focus group that will help refine the course over a 4-week period beginning in late August. So head over the www.PrivateLenderAcademy.com and click on Apply Now http://privatelenderacademy.com/apply/ (Apply) http://privatelenderacademy.com/apply/ (– Private Lender Academy) OK, the housekeeping is finished and now it's time to get down to the brass tacks of today's episode: the 5th cure for a lean account. And like so many lessons in life that we should heed, the principle is quite simple, but sometimes we humans seem to have trouble with the execution. Let's get down to the brass tacks and listen to what Arkad tells his students: Make your house a profitable investment. A. K. A. - Own your Home "If a man sets aside none parts of his earnings upon which to live and enjoy life, and if any part of his nine parts can be turned into a profitable investment without detriment to his well-being, then so much fast will his treasures grow." So spoke Arkad to his class at their fifth lesson.  "All too many of our men of Babylon do raise their families in unseemly quarters. They do pay to exacting landlords and liberal rents for rooms where their wives have not a spot to raise the blooms that gladden a woman's heart and their children have no place to play their games except in unclean alleys. "No man's family can fully enjoy life unless they do have a plot of ground wherein children can play in the clean earth and where the wife may raise not only blossoms but good rich herbs to feed her family.  "To a man's heart, it brings gladness to eat the figs from his own trees and the grapes of his own vines. To own your own home and to have it a place he is proud to care for, puts confidence in his heart and greater effort behind all his endeavors. Therefore, I recommend that every man own the roof that shelters him and his family.  "Nor is it beyond the ability of any well-intentioned man to own his own home. Has not our great king so widely extended the walls of Babylon that within them much land is now unused and may be purchased at sums most reasonable? ...

How does the state of our mind affect the way we make money decisions? You came to the right place to find out. Keith Baker's guest today is https://www.linkedin.com/in/jonathandeyoe/ (Jonathan DeYoe), founder and CEO of https://mindful.money/ (Mindful Money). Jonathan explains to Keith Baker how mindfulness creates a space between the external stimulus and your response. It's that moment of calm you need to make the right decisions based on facts instead of emotions. When you adapt mindfulness in your finances, you start making better decisions. How can you practice mindfulness? Tune in to find out! --- Mindful Money: How To Make Better Money Decisions With Jonathan DeYoeInvesting In Your HappinessI'd like to thank you for sharing your time with me. If you're looking for practical tips and advice on how to put the power of the banking system into your investment accounts, then you are in the right place. If you want to learn from my mistakes so that you can both avoid and profit from them, then pull up a chair and pour yourself a drink because this show is just for you. I'm dedicated to giving people like you and me the knowledge and confidence for successful and profitable private lending. [caption id="attachment_3155" align="alignleft" width="194"] Mindful Money: Simple Practices for Reaching Your Financial Goals and Increasing Your Happiness Dividend[/caption] If you're looking to join a community of private lenders then head over to the https://www.facebook.com/groups/674936429994760/ (Private Lender Podcast) Facebook group to connect with other private lenders and to share experiences, stories and opinions. While you're at it, head on over to the http://www.privatelenderacademy.com (PrivateLenderAcademy.com) to learn more about the forthcoming course on private lending and click on Apply Now to register for pre-launch discounts and other goodies. I was a little skeptical when I first learned about our guest. I wasn't sure he'd be a good fit for the show at first because I didn't spend a whole lot of time digging too deep, but after speaking with him for a minute, I knew he had to be on the show so we booked it. I'm happy to share https://mindful.money/ (Jonathan DeYoe) with you and hopefully introduce you to him. As I've shared in previous episodes, I am on a bit of a mindfulness journey. I like to sign off wishing you mindfulness from every episode. Given that life has happened to me in the last few years, divorce, etc., I'm happy that someone has applied the mindfulness approach to money. As I look back, I wish I would have applied mindfulness years ago especially to money because at least in my case, with the relationship with my ex, money wasn't a huge issue but it was large enough. If we both had been mindful about it, maybe things would have been different, at least on the money front. I'm not saying I'd still be married but the awareness and the understanding would have been a lot better. Such an approach can eliminate a lot of the money pains and ill feelings that couples have. Let's go ahead and get down to the brass tacks of this episode and get straight to the interview with Jonathan DeYoe. --- Lender nation, I am throwing a curveball to you because we're not going to talk about private lending and all but we will be talking about money. Our guest has an interesting approach to money, one that I certainly want to use this platform to get out into the world and more people to learn and that is mindfulness. Early on in my practice, unfortunately, mindfulness was not court-ordered for me so I'm doing this on my own little by little. https://mindful.money/ (Jonathan DeYoe), welcome to the show. I'm excited to be here, Keith. Jonathan has nothing but good reviews on Yelp and whatnot. He is in the Berkeley, San Francisco Bay Area if you want to get in touch with him. This whole mindfulness thing, I don't have the words but you do. This is what you do on a daily. Let's start with your practice, your...

The Fourth Law of GoldHello, Lender nation and welcome to Episode 133 of the Private Lender Podcast! I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today. I hope everyone is enjoying their 4th of July observance the day this episode goes live, and to the other 194 countries not named the united states of America, then I hope you have a good Monday! Love the show? Subscribe, rate, review, and share! http://privatelenderpodcast.com/blog/how-to-subscribe-rate-our-podcast-5-stars-on-itunes/ (Here's How ») If you're looking for practical tips and advice on Private Lending and how to keep your money safe, then you are in the right place. But if you want to learn from my mistakes so you can both avoid and profit from them, well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! Today we continue with the lessons taken from the book The Richest Man in Babylon: the fourth law of wealth. This is but one old-world principle that has remained relevant and true through the centuries, no matter the currency, and no matter the political climate. But before we get to the brass tacks, I would like to perform the housekeeping: 1 - Have you joined the https://www.facebook.com/PrivateLenderPodcast/ (Private Lender Podcast Facebook group)? Well, why not? Head over to the show notes for the link or simply search Facebook groups for the Private Lender Podcast. https://www.facebook.com/PrivateLenderPodcast/ (Private Lender Podcast Facebook Group) 2 – And most important of all, the http://www.privatelenderacademy.com/ (Private Lender Academy) is launching in just a few weeks and if you would like to get on the list for pre-launch bonuses like discount codes, then head over to PrivateLenderAcademy.com and click on “Apply Now”: provide some background on your investing experience and goals http://privatelenderacademy.com/apply/ (Apply – Private Lender Academy) The Private Lender Academy is slated to launch after July 4th, 2021. OK, the housekeeping is finished and now it's time to get down to the brass tacks of today's episode: the 4th Law of Wealth (Gold). In the book, the Richest Man in Babylon, there are 7 cures for a lean purse, and 5 laws of Gold (wealth) and today we will discuss the 4th law of wealth, which is simply: “Gold slips away from the man who invests it in businesses or purposes with which he is not familiar, or which are not approved by those skilled in its keep.”“To the man who has gold, yet is not skilled in its handling, many uses for it appear most profitable. Too often these are fraught with the danger of loss, and if properly analyzed by wise men, show small possibility of profit. Therefore, the inexperienced owner of gold who trusts to his own judgement and invest it in businesses or purposes with which he is not familiar, too often find his judgement imperfect, and pays with his treasure for his inexperience. Wise, indeed, is he who invests his treasures under the advise of men skilled in the ways of gold.”The lesson here is simple: seek the advice from those who have a successful track record of investing theirs, and other people's money, to help ensure your success. Gather opinions and seek counsel from proven investment strategies. Do not get caught up in the swell of a bubble market when “everyone is doing it” or “it's so easy, why aren't you doing it?” Do not bet your treasure on the shiny object. But rather seek friendship, fellowship, counsel, and advice from those skilled in successfully handling and investing money. Let them help guide you beyond the wolves and the hype of speculation. Remember, you're net worth is equal to your network. No go out and find such people to help stay safe and invest with logic rather than emotion. Ok, the sermon is over. Thank you for listening. Here's the deal, I don't charge money for this show, but there is a cost and I would be extremely grateful if you would help drive...

  Once you become a lender and you're looking for people to purchase your property, how do you find the buyer? How do you make it look affordable? How do you know which rules and regulations to follow? An RMLO or a residential mortgage loan originator will do just that. Learn from https://www.linkedin.com/in/sarah-n-montes-99918478/ (Sarah Montes) who is the President of https://www.texaspridelending.com/ (Texas Pride Lending) on why you need an RMLO. Joining Keith Baker, Sarah explains how an RMLO guides the lender on the payment process. Listen in today on how Texas Pride helps lenders in this regard. --- Guiding The Lender: Sarah Montes On RMLOsI would like to thank you for sharing your time with me as well as your consideration. If you're seeking practical tips and advice on how to increase wealth without cheap banks or unpredictable Wall Street through private mortgage lending, then you are in the right place. If you want to learn from my mistakes so that you can both avoid and profit from them, then pull up a chair and pour yourself a drink because this show is for you. This episode has been more than four years in the making. It has got a bit of a story behind it. Before we get to that, I want to encourage you to join the https://www.facebook.com/groups/360119521502949 (Private Lender Podcast Group). It is a public group, but I personally vet the applicants to ensure that it truly remains a group of just us private lenders. After years of empty threats and promises, the Private Lender Academy is finally launching in July 2021. You have the opportunity to get in when the doors open as a founding member, which means you won't be charged full price and you'll receive founder pricing on additional courses in the future. Go to http://www.PrivateLenderAcademy.com (PrivateLenderAcademy.com) for more info. Click on that Apply Now, fill out some information, tell us a little bit about yourself, and you'll be on the list for the founding member. It is time to get down to the brass tacks of this episode. It's when my best borrower switched his business model from buying and converting into owner-financing notes using private lender money as the underlying lien. He streamlined his business and went more into a wholesaling model, which means he didn't need a private lender. He also went into a small apartment complex, which was way above what I had to offer. He did me a favor and introduced me to his friend, http://privatelenderpodcast.com/episodes/plp-094/ (Landon Rothstein), who has been on the show. I initially was Landon's private lender before coming as his partner in Asset REI in 2017. At that time, Landon was a student of https://1000houses.com/ (Mitch Stephen). He was looking to use my money as a first position and then wrap it with seller financing with an additional lien. He explained that we would use an originator to keep everything legal and above board. Since this came from Landon, I was skeptical and decided to investigate things myself. Ultimately, I came to the conclusion that Landon wasn't BS-ing me. He was indeed accurate, right, and correct. Before we put an owner-occupant inside a house with my money providing the lien, we used Texas Pride Lending, which took the end buyers' application, financial information, records, and everything that a bank or loan officer would take. They confirmed that the borrower could reasonably be expected to make the mortgage payments based on their finances, how the note was structured and the length of the note. It would be reasonable for the borrower to be expected to make these under the federal guidelines, Freddie Mac and Fannie Mae. It was during this process when I met our guest, Sarah Montes. She took care of everything and made the process extremely easy for me as a lender. If I had a question in the morning or afternoon, it was answered with the package, documents, or whatever was requested. The lender is quick and customer...

Hello Private Lender nation and welcome to episode 131 of the Private Lender Podcast, I'm your host, Keith Baker and I'd like to thank you for sharing your time and your ears with me today.  Love the show? Subscribe, rate, review, and share! http://privatelenderpodcast.com/blog/how-to-subscribe-rate-our-podcast-5-stars-on-itunes/ (Here's How ») If you're seeking practical tips and advice on how to increase wealth without banks or wallstreet through private mortgage lending, then you are in the right place. But if you want to learn from my mistakes so you can both avoid and profit from them - well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! In today's episode, we'll go over 3 ways you can start lending with less than $50,000. But before we get to the heart of the matter, first I need to do a little housekeeping.   1 - Have you joined the Private Lender Podcast Facebook group? Well why not? Head over to the show notes for the link or simply search Facebook groups for the Private Lender Podcast. https://www.facebook.com/groups/674936429994760 (Private Lender Podcast Facebook Group)  2 – And most important of all, the Private Lender Academy is launching in just a few weeks and if you would like to get on the list for pre-launch bonuses like discount codes, then head over to PrivateLenderAcademy.com and click on “Apply Now”: provide some background on your investing experience and goals http://privatelenderacademy.com/apply/ (Apply – Private Lender Academy) The Private Lender Academy is slated to launch in mid-July, which is still after July 4th weekend, so I'm not a complete liar. Look, it's a lot more than I thought it would be, but I will bring it across the finish line: come hell or high water. OK, the housekeeping is finished and now it's time to get down to the brass tacks of today's episode: 3 ways to lend with less than $30,000.   1 – REIT - Real Estate Investment Trust:  A company that owns, operates, or finances income-producing properties Pay a minimum of 90% of taxable income in the form of shareholder dividends each year ·        Modeled after mutual funds – most publicly traded on public exchanges – provides liquidity ·        Do not provide much capital appreciation ·        Usually target a specific asset class/sector Multi-Family Commercial Mobile Phone Towers Hotels Data Centers Retail Timberland Warehouse Most are equity REITS Some are Mortgage REITS which lend to operators or purchase mortgage-backed securities   2 – Real Estate Fund Think - hard money loans on Single Family Residences:  o  Fix and Flip o  Buy and Hold o  Commercial/Multi-Family ·        You provide capital at an agreed interest rate ·        ~ 1 year minimum ·        Quarterly interest payments ·        ~ 90 notice to receive return of principle http://privatelenderpodcast.com/episodes/plp-043/ (Episode 43) with http://privatelenderpodcast.com/episodes/plp-043/ (Tom Berry) from Investor Loan Source. Great way to see due diligence (loan packages) while someone else does all the work   3 – Lend to Owner Finance investors            Provide the purchase capital in the first position            Your lien is “wrapped” by a second mortgage from your borrower to the end- buyer            3 – 5 years            8%  Mitch Stephen...

The Fourth Cure for A Lean Account Balance Hello Private Lender nation and welcome to episode 130 of the Private Lender Podcast, I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today.  If you're looking for practical tips and advice on how to keep your money safe as a Private Lender, then you are in the right place. But if you want to learn from my mistakes so you can avoid them, well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! In today's episode, we will continue with our monthly lesson from the book the Richest Man in Babylon. Today's lesson is the 4th cure for a lean account, but before we get to the heart of the matter, first I need to do a little housekeeping.  1 - Have you joined the Private Lender Podcast Facebook group? Well why not? Head over to the show notes for the link or simply search Facebook groups for the Private Lender Podcast. https://www.facebook.com/groups/674936429994760 (Private Lender Podcast Facebook Group)   2 – And most important of all, the Private Lender Academy is launching in just a few weeks and if you would like to get on the list for pre-launch bonuses like discount codes, then head over to PrivateLenderAcademy.com and click on “Apply Now”: provide some background on your investing experience and goals http://privatelenderacademy.com/apply/ (Apply – Private Lender Academy) The Private Lender Academy is slated to launch after July 4th weekend! OK, the housekeeping is finished and now it's time to get down to the brass tacks of today's episode: the 4th cure for a lean account. And like so many lessons in life that we should heed, the principle is quite simple, but we humans seem to have trouble with the execution. The 4th cure for a lean purse points precisely to the first Core Value of a Private Lender: ROI1 - Return of Investment. Let's get to it, and listen to what Arkad tells his students: “Misfortune loves a shining mark. Gold in a man's purse must be guarded with firmness, else it be lost. Thus it is wise that we must first secure small amounts and learn to protect them before the Gods entrust us with larger ones. Every owner of gold is tempted by opportunities whereby it would seem that he could make large sums by its investment in most plausible projects. Often friends and relatives are eagerly entering such investment and urge him to follow. The first sound principle of investment is security for your principle (Return OF Investment). Is it wise to be intrigued by larger earnings when your principle could be lost? I say not. The penalty of risk is probable loss. Study carefully, before parting your money, each assurance that it may be safely reclaimed. Do not be misled by your own romantic desires to make wealth rapidly. Before you loan it to any man assure yourself of his ability to repay and his reputation for doing so, that you may not unwittingly be making him a present of your hard-earned money. Before you entrust it as an investment in any field acquaint yourself with the dangers which may threaten it. My own first investment was a tragedy to me at the time. The guarded savings of one year did I entrust to a brickmaster who was traveling over the far seas and in the city of Tyre agreed to buy for me the rare jewels of the Phoenicians. These we would sell upon his return and divide the profits. The Phoenicians were scoundrels and sold him bits of glass. My money was lost. Today, my training would show me at once the mistake I made of entrusting a brickmaster to buy jewels. Therefore, I advise you from the wisdom of my experiences: do to be too confident in your own wisdom by entrusting your wealth to the possible pitfalls of investments. It is by far better to consult the wisdom of those experienced in handling money for profit. Such advice is freely given...

  Looking back at history is always a great way to discern how we got into the present. Joining Keith Baker to reflect on the previous market cycles of real estate is https://jillunderwood.com/ (Jill Underwood). Together, they discuss the implications of the different crises and crashes the country has faced. Jill explains how the platforms of US Presidents directly affect the growth - or decline - of the real estate market. She details how the nation's debt plays a role in keeping rates low, which is pretty clear with today's pandemic-hit society. The two also discuss the new tax credit policy rolled out by the Federal Reserve System and the right approach to these free money situations. --- Jill Underwood On How Various Market Cycles Of The Past Shaped Today's Real EstateJill Underwood Discusses The Current Market Conditions And Compares Them To Previous CyclesI'd like to thank you for sharing your time with me. If you're looking for practical tips and advice on private lending and how to keep your money safe, then you are in the right place. If you want to learn from my mistakes so that you can both avoid them and profit from them, pull up a chair and pour yourself a drink, get a notepad and a pencil, take some notes because this show is for you. I'm dedicated to giving people like you and me the knowledge and confidence for successful and profitable private lending. If you're looking to join a community of private lenders, then head over to the show's Facebook group to connect with other private lenders, to share experiences, stories, and opinions that are not political, sexual, or religious. Simply go to Facebook groups and search https://www.facebook.com/groups/360119521502949 (Private Lender Podcast Group). I hope everyone is doing well since summer has officially begun. We are into the month of June 2021, the back end of the second quarter. There's a lot of fun stuff coming out. The Private Lender Academy is going to launch in July 2021. Stay tuned to http://www.PrivateLenderAcademy.com (PrivateLenderAcademy.com) for more information on that. I'm looking forward July 6th, 2021, July 7th, 2021 launch date. Go to http://www.PrivateLenderAcademy.com/apply (PrivateLenderAcademy.com/apply) to go ahead and get on the list for your chance to get some goodies like discounts or pop-up Facebook coaching calls. You will be able to participate via Facebook. You'll have to come in through Zoom. Get on the list for those early-bird discounts and goodies. Before we get to the brass tacks of this episode, I wanted to say that I have not had a retail mortgage loan officer on the show yet on purpose. One has been on my list but I wanted someone that could bring a little more. It's not that I haven't been approached. I have several friends that are loan officers but unfortunately, I didn't feel that anyone clicked or stood out as someone who could provide something different and unique to the audience here. This episode's guest is different because I sought her out, asked her to come on this episode, and share her experience with us for two reasons. One is her driven spirit and can-do attitude. She'll find a way. She'll figure it out. No problem is too big. I liked that. Also, her experience. She has so much experience with several market cycles. Our guest has been in the mortgage industry since she was 21 years old. She began as a receptionist, quickly rose through the ranks and became a loan officer. She's been through and survived the savings and loan crisis that started in 1986 and went into the 1990s, the dot-com bubble of 2000, and the Great Recession or global financial crisis of 2008. She didn't just survive these. She thrived through them. Let's get to the heart of the matter and to the interview with https://jillunderwood.com/ (Jill Underwood). --- Please help me welcome Ms. https://jillunderwood.com/ (Jill Underwood) to the show. Jill, welcome. Thank you. I'm so happy to be here. I'm excited.

Hello Private Lender nation and welcome to episode 128 of the Private Lender Podcast, I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today.  Subscribe, rate, review, and share! http://privatelenderpodcast.com/blog/how-to-subscribe-rate-our-podcast-5-stars-on-itunes/ (Here's How ») If you're looking for practical tips and advice on Private Lending and how to keep your money safe as a Private Lender, then you are in the right place. But if you want to learn from my mistakes so you can avoid them, well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! Today will be another quick episode, but I give you full permission to get off the treadmill or elliptical as soon as this episode concludes in just a few minutes. But before we get to the heart of the matter, first I need to do a little housekeeping:   Join the https://www.facebook.com/groups/674936429994760 (Private Lender Podcast Facebook Group) Make sure you visit http://privatelenderacademy.com/ (www.PrivateLenderAcademy.com) to learn more and sign-up for pre-launch bonuses like group coaching calls and discounts. Today's episode is airing on Memorial Day 2021, and as such it is in honor of those who perished while serving this great country of ours. But this episode is also in honor of the family members that were left behind, as well as the survivors who continue to battle years after their service is over. So in the honor of all those mentioned above, I would like to read The Genius of the Crowd, by Charles Bukowski  "there is enough treachery, hatred violence absurdity in the average human being to supply any given army on any given day and the best at murder are those who preach against it and the best at hate are those who preach love and the best at war finally are those who preach peace those who preach god, need god those who preach peace do not have peace those who preach peace do not have love beware the preachers beware the knowers beware those who are always reading books beware those who either detest poverty or are proud of it beware those quick to praise for they need praise in return beware those who are quick to censor they are afraid of what they do not know beware those who seek constant crowds for they are nothing alone beware the average man the average woman beware their love, their love is average seeks average but there is genius in their hatred there is enough genius in their hatred to kill you to kill anybody not wanting solitude not understanding solitude they will attempt to destroy anything that differs from their own not being able to create art they will not understand art they will consider their failure as creators only as a failure of the world not being able to love fully they will believe your love incomplete and then they will hate you and their hatred will be perfect like a shining diamond like a knife like a mountain like a tiger like hemlock their finest art"     OK. Here's the deal, I don't charge money for this show, but there is a cost and I would be extremely grateful if you would help drive awareness to the show, to get the word out by leaving me an honest rating and review over at iTunes, Google Podcast or whatever platform you are using to hear my voice.  It doesn't take that long and it's a small price for the value I try to provide.    That's gonna do it for Episode 128 and just a few final thoughts: 1 – Join the https://www.facebook.com/groups/674936429994760 (Private Lender Podcast Facebook Group) to connect, learn, be inspired and interact in the discussions 2 - Remember, the http://privatelenderacademy.com/ (www.PrivateLenderAcademy.com) will launch in July 2021. Head over to http://privatelenderacademy.com/ (www.PrivateLenderAcademy.com) for more...

If you're looking for practical tips and advice on Private Lending and how to keep your money safe as a Private Lender, then you are in the right place. But if you want to learn from my mistakes so you can avoid them, well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! In today's episode, we will continue to explore the lessons found in the book “The Richest Man in Babylon”. Today we will be discussing the 3rd Law of Wealth. Today will be another quick episode, but I give you full permission to get off the treadmill or elliptical as soon as this episode concludes in just a few minutes. https://www.facebook.com/PrivateLenderPodcast (PLP Facebook group: Private Lender Podcast (public)) The Private Lender Academy is launching in July. Go to the new website for more information and to sign up for early-bird discounts, group coaching calls, and other pre-launch bonuses. www.PrivateLenderAcademy.com Today's topic is another lesson from the Richest Man in Babylon written by George Samuel Clason. You can go back and catch up on the first four installments in: http://privatelenderpodcast.com/episodes/privatelenderpodcastcomepisodesplp-114/ (Episode 114:)  First Cure for a lean account – save 10% of everything you earn for the future http://privatelenderpodcast.com/episodes/plp-116/ (Episode 116: ) First Law of Wealth - Wealth comes to those who reserve AT LEAST 10% of their total earnings towards building their future financial independence/fortune. http://privatelenderpodcast.com/episodes/plp-118-defense-wins-championships/ (Episode 118:) Second cure for a lean account – control thy expenses http://privatelenderpodcast.com/episodes/plp-120/ (Episode 120:) Second Law of Wealth - “work hard for your money, but then make your money work harder for you http://privatelenderpodcast.com/episodes/plp-123/ (Episode 123:) Compound Interest the 8th wonder of the world Today is the sixth installment in which we will be discussing the 3rd Law of Gold (wealth). And like so many lessons in life that we should heed, the principle is quite simple, but we humans seem to have trouble with the execution.  Let's get down to the Brass Tacks of this Episode and discuss the 3rd Law of Wealth, which state: Gold clings to the protection of the cautious owner who invests it under the advice of men wise in its handling.And then the book goes on to say:  “Gold, indeed, clings to the cautious owner, even as it flees the careless owner. The man who seeks the advice of men wise in the handling of gold soon learns not to jeopardize his treasure, but to preserve in safety and to enjoy in contentment its consistent increase”If you follow the lesson sequence from the book, you are saving 10% of your income to invest, you are controlling your expenses – living below your means, looking to make your money work hard for you and now we come to seek advice from people who are wise in the handling of money: People who know who to Protect Money (Return Of Investment) and people who know how to make it multiply (Return On Investment). Those just happen to be Private Lender No. 1 and 2 Core Value Rodan (the spear maker) visits Mathon – a seller of jewelry and fine fabrics, also the gold lender of Babylon. “Seek to associate yourself with men and enterprises whose success is established so that your money may earn liberally under their skillful use and be guarded safely by their wisdom and experience”  ·        Loan to flippers to flip ·        Loan to landlords to accumulate rentals ·        Make acquisition/bridge loans to owner finance sellers ·        I like to look for grey hair, but I have and will continue to lend to experienced youth...

  Buying a new home is truly exciting, but every owner dreads one thing: debts. Most homeowners who want to get their hands on equity contracts turn to credit or reverse mortgages when acquiring a new property. Unfortunately, these only push them deeper into debt. Thankfully, https://www.linkedin.com/in/mattsullivanco/ (Matthew Sullivan) found a solution to this problem while boosting property ownership. Joining Keith Baker, he explains their work at https://www.quantmre.com/ (QuantmRE) that gives homeowners access to a portion of their home equity. Therefore, they are not only saved from debt but also tedious monthly payments and interest. Keith explains how this helps homeowners more than just saving money, innovating real estate transactions today. --- Avoiding Huge Debts In Your Equity Contracts With Matthew SullivanHow QuantmRE Boosts Property OwnershipThis is the only place to be if you're looking for practical tips and advice on private lending and how to keep your money safe. If you want to learn from my mistakes so that you can both avoid and profit from them, then pull up a chair and pour yourself a drink because this show is designed just for you. It's dedicated to giving people like you and me the knowledge and confidence to participate in the most passive form of real estate investing there is, which so happens to be private lending. If you're looking for a shortcut to go ahead and get started private lending, then head over to http://www.privatelenderpodcast.com/ink/ (PrivateLenderPodcast.com/ink) to learn how you can put your money to work for you by investing in real estate back loans right here in the Houston area. Also, make sure to join the show's Facebook group to connect with other private lenders and to be a part of the growing community. You can search Facebook for https://www.facebook.com/PrivateLenderPodcast/ (Private Lender Podcast) group. On past episodes, we have discussed that 95% or more of my private lending is done out of my self-directed IRA, but there are other ways to get money to loan out that belongs to you without borrowing it from somebody. You can borrow from yourself. For example, you can borrow from your life insurance policy. Certain whole life policies have cash values you can borrow from and arbitrage the interest. The same thing with a home equity line of credit or a home equity loan. If you go to Bank of America and borrow money for 3%, yet you can loan it back out in six-month intervals to flippers for 13% or 12 points. You've arbitraged that 3, 4, to 12 so you're making 8% of that money even after you pay off the loan. It's a pretty neat deal. Our guest has a very interesting take on the same thing. His company provides homeowners a contract on that equity that they don't have to pay back, except when the house is sold. It's like a home equity line. You're giving up a certain percentage of your equity for cash now that will be realized later on. I'm probably not describing it very well. Why don't we go ahead and get down to the brass tacks of this episode and go straight to the interview with https://launch.quantmre.com/ (Matthew Sullivan)? --- I have a very special guest with a very interesting topic. Please welcome https://launch.quantmre.com/ (Matthew Sullivan) to the show. Matthew, welcome aboard. Thanks for coming on. Keith, thank you for having me on. I can tell you're from East Texas. Why don't you tell us a little bit about your accent there? Where are you from? Alabama. I'm originally from outside of London in England. We can't call it Europe anymore because it's not. I moved over here a few years ago. I landed in Orange County and moved to Salt Lake City in Utah. I find the blazing daily sunshine of California far too decent. I felt I needed to get cold again. I might be heading back to California pretty quickly. [bctt tweet="#NeverTrustAlwaysVerify - remember you must perform your own due diligence prior to...

Show Notes Coming Soon

    Because of COVID-19, those in the real estate industry had to pivot in a huge way to survive and find ways to thrive with the ongoing deurbanization. Keith Baker explores how people in this sector hone their strategies, particularly in private lending, by sitting with https://www.linkedin.com/in/kayla-wojcik-b4525188/ (Kayla Wojcik). She explains their work at https://flipcofinancial.com/ (FlipCo Financial), a team of forward-thinking individuals in the real estate investing sector focused on bringing a better financing product to the Houston market and soon nationally. She dives deep into the type of loans they offer, why they don't charge appraisal fees, what a typical bridge loan looks like, and their most common borrowers. Kayla also shares their strategy when it comes to bread and butter houses, which experienced a huge decrease in February. --- Private Lending With FlipCo Financial And Kayla WojcikBringing Better Financing Products To The Houston MarketI'd like to thank you for sharing your time with me. If you're looking for practical tips and advice on private lending and how to keep your money safe, then you are in the right place. If you want to learn from my mistakes so that you can both avoid and profit from them, pull up a chair and pour yourself a drink because this show is for you. This show is dedicated to giving people like you and I the knowledge and the confidence to participate in the most passive form of real estate investing known to man, private lending. If you're looking for a shortcut to begin private lending, then head over to the http://www.PrivateLenderPodcast.com/Ink (PrivateLenderPodcast.com/Ink) to learn how you can put your money to work for you by investing in real estate backed loans right here in the Houston area with my friend, Paul Lamnatos over at Blink Lending. Make sure to join the show's https://www.Facebook.com/PrivateLenderPodcast/ (Facebook Group) in order to connect with other private lenders and to be part of the ever-growing community. I'm excited to get to the interview with our guest, Kayla Wojcik, who's the Founder and Director of Sales and Operations at http://www.FlipcoFinancial.com/ (FlipCo Financial), which opened their doors and started lending in November 2020. FlipCo is a team of forward-thinking individuals in the single-family real estate investing sector focused on bringing a better financing product to the Houston market and nationally. What makes FlipCo private lender a little different is they were funded and started with one person's capital who wanted to put it to work or a handful of it. It was a private capital that was put to work just like me. The Angel investor that started it had a lot more money to get started with first and was smart enough to hire Kayla to run the business for him. Let's get down to the brass tacks of the show and listen to the interview with Kayla Wojcik as she discusses her lending criteria. --- I'm honored to have Kayla Wojcik from http://www.FlipCoFinancial.com (FlipCo Financial). Welcome, Kayla. Thanks for having me. Thanks for coming on. You have an interesting story and background that I'm a fan of. You're in Houston area providing flips and money for investments. Let's start back, not the very beginning but how did you get into the real estate space. Tell us a little bit about yourself. A little towards the background around eighteen years old, I worked for an attorney. He wanted to get into the tax foreclosure market. He would throw down the list on my desk. He would say, "I need you to circle the ones that you like." He didn't give me any direction. "I'm going to need you to go knock on those guys' doors and offer them whatever amount I tell you for those deals." I did. I went out there. I door knocked a few times. I got a lot of door slams and people all around not answering. It was the good old-school way of doing it. It scared the crap out of me. That's a lot for someone so young who doesn't know...

Hello Private Lender nation and welcome to episode 123 of the Private Lender Podcast, I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today.  If you're looking for practical tips and advice on Private Lending and how to keep your money safe as a Private Lender, then you are in the right place. But if you want to learn from my mistakes so you can avoid them, well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! If you're looking for practical tips and advice on Private Lending and how to keep your money safe as a Private Lender, then you are in the right place. But if you want to learn from my mistakes so you can avoid them, well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! Before I jump into today's episode, I want to give a shout-out to Blake who sat next to me on a flight to Nashville recently. He's a young man who is leaving the world of commercial real estate to go back to school to follow his passion. And he has a great outlook on money and not wasting it just because you have it. Blake, hold on to both your passion and your outlook on money and wealth – they will serve you well and I wish you all the best! In today's episode, we will continue to explore the lessons found in the book “The Richest Man in Babylon”. Today we will be discussing the 3rd cure for a lean account: Make your money multiply with compound interest. But first, a little housekeeping. . . . . https://www.facebook.com/groups/674936429994760 (The Private Lender Podcast Facebook Group) http://privatelenderpodcast.com/ink/ (Click the Easy button below to begin your Private Lending journey. . . ) Let's get down to the Brass Tacks Today's topic is another lesson from the Richest Man in Babylon written by George Samuel Clason. Today is the fifth installment where we will be discussing the 3rd cure for a lean purse, or as I like to think about it, a cure for a low account balance. And like so many lessons in life that we should heed, the principle is quite simple, but we humans seem to have trouble with the execution.  If you would like, you can go back and catch up on the first four installments in the following episodes: http://privatelenderpodcast.com/episodes/privatelenderpodcastcomepisodesplp-114/ (Episode 114):  First Cure for a lean account – save 10% of everything you earn for the future http://privatelenderpodcast.com/episodes/plp-116/ (Episode 116:)  First Law of Wealth - Wealth comes to those who reserve AT LEAST 10% of their total earnings towards building their future financial independence/fortune. http://privatelenderpodcast.com/episodes/plp-118-defense-wins-championships/ (Episode 118): Second cure for a lean account – control thy expenses http://privatelenderpodcast.com/episodes/plp-120/ (Episode 120): Second Law of Wealth - “work hard for your money, but then make your money work harder for you So, let's discuss the 3rd cure for a lean account So if you follow the lesson sequence from the book, you are beginning to increase your account value- and this is no doubt very satisfying to see it grow. However, if your money is in a savings account then you are not earning very much. According to Bankrate.com, at the end of March 2021, the national average for savings accounts was 0.07%. While earning cash flow and saving a portion of it is but the first step to generating wealth, the 3rd cure is to put each dollar that you have saved to work for you so that it will generate more money and wealth. Then, take the earnings and add them back into the account such that your earning will compound. I am a firm believer that this process should begin as soon we begin to earn money and should continue until the day we leave this earth. This is the essence of compound interest. For simple...

  Many people believe that achieving your goals is the epitome of success. However, what makes it more worthwhile is gaining personal growth along the way. Multifamily master https://rodkhleif.com/ (Rod Khleif) joins Keith Baker to tell his inspiring story of finding success and failure in real estate, teaching him to live larger than life and become strong whatever happens. He shares how writing down your specific goals helps a lot in gearing up for the challenges of life and how the feeling of gratitude allows you to manifest every goal you may have. Above all, Rod talks about finding a high level of self-fulfillment in giving back to society, sharing how he found a deeper purpose in feeding families every time the holiday season comes.  --- Rod Khleif: Why Achieving Personal Growth Is More Important Than Goal-SettingI Finally Got To Interview Rod Khleif!I'm pumped up for this interview with https://rodkhleif.com/ (Rod Khleif). He is a multiple business owner and philanthropist who is passionate about real estate, business and giving back. As one of the country's top business, real estate and peak performance luminaries, Rod has owned over 2,000 homes and apartment buildings and has built over 24 businesses in his 40-year business career, several of which have been worth tens of millions of dollars. That's just a few of the reasons I sought out Rod to be on the show. As you read on, you'll understand why.  Out of 120-plus episodes, this is the episode in which I say the least. Rod is captivating and inspirational, at least for me. I sat back and started taking notes because I forgot that I was conducting an interview. Rod's podcast, https://rodkhleif.com/Lifetime-Cashflow-Podcast/ (The Lifetime CashFlow Through Real Estate) is one of the first shows I listened to way back years ago. It inspired me to do my own. His show inspired me to also begin seeking knowledge and to understand multifamily investing, which is Rod's specialty. Let's go ahead and get down to the brass text of this show and to the interview with Rod Khleif. --- It's my distinct honor to welcome https://rodkhleif.com/ (Mr. Rod Khleif) to the show. Rod, welcome. Thanks. Let's have some fun, Keith. I know full well who you are. I want my audience to know who you are. I listened to Rod's podcast years ago as I'm coming up in my morning commute and it inspired me to do my show. Rod's podcast is https://rodkhleif.com/Lifetime-Cashflow-Podcast/ (The Lifetime CashFlow Through Real Estate). There's a lot of great information there. I'm excited and nervous. Rod, thank you so much. You honor me by coming on here. Thank you for your kind words. That means a lot to me. For those of you that don't know who I am, let me give you a little background on me and a story because it might help and inspire you. I immigrated to this country when I was six years old. I was born in the Netherlands, in Holland, wooden shoes and windmills. We ended up in Denver, Colorado. We didn't have much. I worked close in the Goodwill and the Salvation Army all the way through junior high school until I lied about my age to work at Burger King when I was fourteen, so I could buy my clothes. I remember growing up, we ate expired food and drank powdered milk because that's all we could afford. Luckily, my mom had an incredible work ethic. She babysat kids so we'd have enough money to eat and have a decent life. She was a bit of an entrepreneur as well. She invested in the stock market with her babysitting money. She also bought the house across the street from us when I was about fourteen. When I was seventeen, three years later, she told me she'd made $20,000 in her sleep. I'm like, “You made $20,000, it went up in value and you didn't do anything? Forget college. I'm getting into real estate.” I became a real estate broker when I turned eighteen. I'm an agent. I was a broker, which you could do back then with education. Now they got smart and you...

Greetings from the laughingstock of the professional sports world – Houston, TX. And welcome to episode 121 of the Private Lender Podcast, I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today.  If you're looking for practical tips and advice on Private Lending and how to keep your money safe, then you are in the right place. But if you want to learn from my mistakes so you can both avoid and profit from them, well then pull up a chair and pour yourself a stiff drink my friend, because this podcast is just for you! The PLP is dedicated to giving people just like you and me the knowledge and confidence to participate in the most passive form of real estate investing known to man: Private Lending. And if you are looking for a shortcut to begin Private Lending then head over to http://privatelenderpodcast.com/ink/ (PrivateLenderPodcast.com/ink) to learn how you can put your money to work for you by investing in private and hard money loans around Houston. Also, make sure to join the https://www.facebook.com/groups/674936429994760 (Private Lender Podcast Facebook group) to connect with other private lenders and be a part of the community. Are you ready to get down to the brass tacks of today's episode? – Cuz I know I am! Today's topic is about lending to an entity instead of a person, and what you need to do in order to protect your money. So let's dive in, shall we??!! A retail loan to an individual            Retail bank (as well as SDIRA custodian) will require the borrower's name, address, contact info, driver's license, and social security number. In the case of a loan or mortgage, the borrower's social security number is important for 2 reasons: allows the lender to perform a credit report to help underwrite the loan allows the lender to report the borrower to credit bureaus in case of default or delinquency. This is how banks can keep some of the borrower's skin in the game with a conventional or FHA mortgage – especially in a low or no money down scenario. The same principles apply to Private Lending. While I don't actually pull a credit report for a borrower, I require the same info as the bank, especially the social security number. If my borrower defaults, I can seek legal remedies against them with their social security number in civil court. And I can put a bruise on their credit report if I decide it is worth it to pay the money. Now let's look at what happens when Fraudulent House Flippers, LLC applies for a loan at the bank: First off, besides requiring 20% of the purchase price at the closing table for an investment property purchase, they want to see the formation documents for the entity and who are the members and managers, and the LLC's EIN or federal tax ID number, bank statements, etc. They also require a personal guarantee, unless your LLC has a substantial amount of money deposited with said bank. Why would they require a personal guarantee for a business loan? That's a good question. But a better question is why should every Private Lender require a personal guarantee when lending to an entity such as an LLC? I'll walk you through the answer because it can ruin your day. Let's say I loan 100k to Fraudulent House Flippers, LLC to purchase and renovate a property. For three months I am paid as agreed, but in month 4 Fraudulent House Flippers LLC stops paying their note, and after the loan goes into default, let's assume two things happen:            1 – I foreclose on the property – a hassle I don't want but have accepted the risk 2 – Fraudulent House Flippers, LLC dissolves the entity and now you don't have anyone to sue in civil court or receive a deficiency judgment. However, if you require a personal guarantee from every member of the LLC, you now have a means by which you ensure...

The Second Law of Wealth Hello Lender nation and welcome to episode 120 of the Private Lender Podcast! I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today.  If you're looking for practical tips and advice on Private Lending and how to keep your money safe, then you are in the right place. But if you want to learn from my mistakes so you can both avoid and profit from them, well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! In today's episode, we continue the lessons taken from the book The Richest Man in Babylon: the second law of Gold. These are old-world principles that have remained relevant and true through the centuries, no matter the currency, and no matter the politics. But before we dive into the Second Law of Gold, I need to perform a little housekeeping:            Private Lender Podcast Facebook group https://www.facebook.com/groups/674936429994760 (CLICK HERE) https://www.facebook.com/groups/674936429994760 () 2 – Are you interested in doing your own Private Lending but feel like you need a little help to get you through your first handful of loans? Then head over to PLP.com/INK and learn how you can get started in lending with my friend Paul over at Ink lending and fund their loans on properties right here in the Houston area, in one of the most lender-friendly states in this great country of ours! That's right, Paul Lamnatos and his team vet the deals, underwrite the loan, and put your money to work for you. They even service the loan on your behalf - that's about as passive as you can get. CLICK HERE or on the image below to learn more!! “Let's get down to the Brass Tacks” In the book, the RMiB, there are 7 cures for a lean purse, and 5 laws of Gold and today we will discuss the 2nd law of gold, which is simply:    Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field. “Gold, indeed, is a willing worker. It is ever eager to multiply when opportunity presents itself. To every man who has a store of gold set aside, opportunity comes for its most profitable use. As the years pass, it multiplies itself in surprising fashion.” There is an old cliché that says: “work hard for your money, but then make your money work harder for you”. I like to think along the lines of the flocks in the field or even raising children. There is usually a great deal of labor to bring your savings to life (see what I did there?) and to give your money the ability to multiply and bring more savings into the world and into your account.  Or your savings are like widgets or little robots that make money and produce more robots to make you money – but you have to oversee all of this.  This goes back to you taking control of you money, your finances, your future, your family legacy. Don't let complacency creep up on you, and never trust your money is working for you – you must verify that it is working hard for you. You are shepherd of your money – a steward if you like You are the CEO of your money – act like it!! Work hard for your money but make your money work harder for you! Teach this mantra to your children. Teach them how to raise their wealth, and the position of their family. Ok, my sermon is over. Thank you for listening. Here's the deal, I don't charge money for this show, but there is a cost and I would be extremely grateful if you would help drive awareness to the show, to get the word out by leaving me an honest rating and review over at Google Podcast, Spotify or whatever platform you are using to hear my voice. But it would mean the world to me if you could leave an honest rating and review over at iTunes because it's apple and they're still the benchmark. It doesn't take that...

Hello Lender nation and welcome to episode 119 of the Private Lender Podcast, I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today.  If you're looking for practical tips and advice on Private Lending and how to keep your money safe as a Private Lender, then you are in the right place. But if you want to learn from my mistakes so you can avoid them, well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! In today's episode, we will cover a few items of due diligence every Private Lender should perform if they do not utilize the services of an escrow or loan servicing company.  But before we launch full speed into today's episode, I need to perform a little housekeeping of my own.   Guys, I have not been producing much content lately. I mean, I've been quiet over the last 12 months - I didn't produce one episode in February of 2021. I could blame a lot of things such as Covid, kids, divorce, death in the family, additional family drama, anxiety, depressive episodes and let's not forget Texas became an ice cube for a few days recently. But the truth is this: I chose not to produce episodes, or content, or the Private Lender Academy that I've been threatening you with, since forever. I didn't consciously choose NOT to do anything, but I now see that I chose to stay with the familiar feeling of procrastination due to a failed sense of perfectionism. Meaning I chose to stay in my comfort zone and watch the world go by as I wondered why I wasn't making any progress toward my goals.  Well, I hope I can say I've finally gotten off my ass and put that mindset behind me. So let's gets going and do some housekeeping:   PLP Facebook group: Private Lender Podcast (public) https://www.facebook.com/groups/674936429994760 (https://www.facebook.com/groups/674936429994760) Are you interested in doing your own Private Lending but feel like you need a little help to get you through your first handful of loans? Then head over to PrivateLenderPodcast.com/ink and learn how you can get started in lending with my friend Paul over at Ink lending and fund their loans on properties right here in the Houston area, in one of the most lender-friendly states in this great country of ours! That's right, Paul Lamnatos and his team vet the deals, underwrite the loan, and put your money to work for you. They even service the loan on your behalf - that's about as passive as you can get If you would like to learn more go to http://privatelenderpodcast.com/wp-admin/www.PrivateLenderPodcast.com/ink (PrivateLenderPodcast.com/ink) Ok, let's get down to the brass tacks - t is now March, and time for us Private Lenders to perform a little due diligence. 1-     Did you send out 1098's or mortgage interest statements in January? 2-     Were the property taxes paid by the end of January? Public record, so you can confirm this via the web in most counties in the US. 3-     Insurance premiums paid?: a.     Property b.     Windstorm c.      Flood d.     Seismic 4-     HOA dues paid?   The 4 previous points are performed on your behalf if you use an escrow or loan servicing company. This is why I suggest as a private lender you should utilize these services because they make your life easier and the borrower pays for the service! It is a condition of retail mortgages and all my Private Loans that the borrower stays current and pays the insurance premiums and taxes. If your borrower is not paying these on time it could mean they are in trouble or quickly arriving at trouble, or perhaps cashflow is being delayed. Your job is not to ask “why?” 5 - The last thing I like to

"let thy motto be 100% of appreciated value demanded for each coin spent" Click here for the Private Lender Podcast Facebook Group

Hello Private Lender Nation and welcome to episode 117 of the Private Lender Podcast and the first episode of the year 2021. I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today, and I hope my voice finds you doing more than well.  If you're looking for practical tips and advice on Private Lending and how to keep your money safe then you are in the right place. But if you want to learn from my mistakes so you can avoid them, well then pull up a chair and pour yourself a drink my friend, because this podcast is just for you! This will be the first episode of 2021, and probably one of the least controversial. But before I say something to get me canceled, I would like to take a minute for some housekeeping: https://www.facebook.com/groups/674936429994760 (Private Lender Podcast Facebook Group) If you like the idea of private lending but find yourself a little hesitant to begin then click HERE to get your feet wet with the help of a professional Hard Money and Mortgage lender. www.privatelenderpodcast.com/ink My friend Paul Lamnatos is ready to answer any questions you may have and help you get started on your Private Lending journey. Click the link on the webpage and provide your email address and Paul will reach out to confirm a time when you can speak to him about Ink's lending criteria, their loan process, and how you can begin profiting from loans on properties located in the greater Houston area – in a very lender-friendly state!  2020 is now over, and we Private Lenders have some of our own housekeeping to perform.   The 1098 Even though the private loans I speak about are business loans, they are still considered a mortgage. Thus the lender is required to file IRS form 1098 and provide it to the borrower, indicating the amount of interest paid on the note over the course of the previous year.  ·        $600 or more of interest collected (including points charged). ·        Remember, points count towards the Usury limit in your state. 18% in TX ·        Must file and provide to the borrower no later than 31 January 2021 If you have your private loan serviced, which I strongly recommend you do, the note servicer/escrow company with do this for you and mail and/or electronically deliver the forms to you borrower. I personally have one legacy loan with my partner Landon that I didn't demand the use of an escrow/servicing company. Here are some options if you don't use a note servicer/escrow company: ·        Your CPA ·        Accounting software ·        Quickbooks or TurboTax ·        Online services I just found 8 websites from a Google search (excluding Quickbooks and TurboTax) The second order of housekeeping is the Fair Market Valuation for any investments, including notes, private entities, and real estate in your Self-Directed IRA.   1. Real Estate – Appraisal, Broker's Price Opinion (BPO), County Appraisal Value. 2. Note – If amortized, attach the amortization schedule. If interest only, simply state the current principal value in the “EOY 2020 Market Value” box and that the note is interest only in the “Comments” area. 3. Private Entity – A letter from a managing member on letterhead stating the value or a balance sheet reflecting the value of the partner's value. 4. Personal Property – Third-party valuation from a qualified professional. In my case, I logged on and was able to quickly provide the fair market value of my loans and my investments in the commercial and multi-family deals I recently invested in.  Notes/Private Loans The only loan that I don't use a note...

If you're looking for practical tips and advice on Private Lending and how to build and maintain wealth outside of banks or wall street, then you are in the right place. And if want to put the power of a bank in your retirement account, you should probably pull up a chair. But if you want to learn from my mistakes so you can avoid them, well then pour yourself a drink my friend, because this podcast is just for you! Love the show? Subscribe, rate, review, and share! http://privatelenderpodcast.com/blog/how-to-subscribe-rate-our-podcast-5-stars-on-itunes/ (Here's How ») This episode is going live on December 21st, 2020 – the longest day of the strangest year I've seen in my few orbits around the sun. Before I get to the housekeeping, I would like to take a moment and say thank you. Thanks for sticking with me this far, and I hope you stick with me even further as we boldly go into 2021.  Housekeeping: Join the https://www.facebook.com/groups/674936429994760 (Private Lender Podcast Facebook Group) https://www.facebook.com/groups/674936429994760 (https://www.facebook.com/groups/674936429994760) Did you know there is an easy button to start your private lending journey? If you are a bit unsure of making your first private loan, you can partner with my friends over at Ink lending and fund their loans on properties right here in the Houston area, in one of the most lender-friendly states in this great country of ours! That's right, Paul Lamnatos and his team vet the deals, underwrite the loan, and put your money to work for you. It's about as passive as you can get!! If you would like to learn more go to PrivateLenderPodcast.com/INK, click the link, enter your info and Paul will reach out to confirm a time when you can speak to him about Ink's lending criteria, their loan process, and how you can begin profiting from loans on properties located in the greater Houston area – in a very lender-friendly state. OK, let's get down to the brass tacks, right to the heart of today's topic which is another lesson taken from the book The Richest Man In Babylon. Why am I doing this you might ask? Because there is no secret to building wealth, but there is a price that I believe very few of us are willing to pay, which includes hard work, unwavering determination, no guarantees, and nothing but uncertainty. You can see examples of not paying the price for that which we so desperately desire. I've seen it in my family, my friends and sadly I've seen it in myself. Remember ya'll, my truck was repossessed when my wife (at the time) was 3 months pregnant with our first child. That's why I love the book the Richest Man in Babylon and the lessons found within it. These are time tested principles for building wealth. They are not get-rich-quick schemes. They are not “hacks” for you to avoid putting in the work and developing the discipline necessary to build your estate, your wealth. There is no cheat code to working for it – and nor should there be! These principles and lessons are quite simple, but that doesn't mean they are easy to implement or to continue for your entire money-earning life. But if you start good habits now, you will have a strong financial base from which to make future decisions. And you will build the discipline necessary to reach your goals and then some! Last month we began with the first of 7 cures for a lean purse, or small savings/investment account/wealth.  And today we will discuss the first of 5 laws of gold, which fits hand in hand with the first cure for a lean account. The First Law of Gold. The First Law of Wealth. Original: Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family. Wealth comes to those who reserve AT LEAST 10% of their total earnings towards building their future financial...

Join the Private Lender Podcast Facebook group and get real time answers to your questions as you build your network!: https://www.facebook.com/groups/674936429994760 (https://www.facebook.com/groups/674936429994760) Also, did you know there is an easy button to becoming a Private Lender? Just CLICK HERE to learn more about lending your money on deals right here in the Houston area, OK, let's get down to the brass tacks, right to the heart of today's topic: the pulse of your local real estate market.  2020 has been just a little crazy, no? I personally know people who were optionally unemployed - WTF? Eviction moratoriums Foreclosure moratoriums A new spike in Covid cases and restrictions Wall St is thriving Main street is dying REITs took it on the chin and haven't returned to pre-covid prices Nationwide housing market are showing bulls and bears I suggest we all pause for a few seconds and stop what we're doing to look around us. To observe the current market trends and signs. What does your local market look like?  Perhaps you live near a major city and are experiencing urban flight. Maybe you're more coastal and have seen a staggering amount of vacation home construction and development. We certainly have in the Gulf Coast. The city of Lake Charles – hit with 2 hurricanes (first Laura then Delta). I've had conversations with locals who work in the petro-chem plants and are looking to have their homes repaired or rebuilt and the prices are through the roof. Admittedly this is anecdotal hearsay at best, but when you hear enough strangers say the same thing in a matter of hours, I tend to put some credence to their words. My neighbor down the street is currently on contract number 5 to sell his house. We'll see if it actually closes before the end of 2020. Saw an article in WSJ stating home sales set a 14 year high (2006) What am I looking at to get the pulse on the Houston market? HAR.com (local MLS)            Monthly press releases that show month over month statistics.  Total Sales Average SFR sales price Median SFR sales price Number of listings Pending sales Months of inventory November 2020 ·        $1 – $99,999: decreased 23.1 percent ·        $100,000 – $149,999: decreased 22.3 percent ·        $150,000 – $249,999: increased 18.2 percent ·        $250,000 – $499,999: increased 46.7 percent ·        $500,000 – $749,999: increased 58.1 percent ·        $750,000 and above: increased 81.5 percent Here's what I know: Interest rates are the lowest ever since Freddie and Fannie began tracking them in 1971. Stimulus plan and moratoriums running out, is another round coming? Lockdowns? This bull market is long in the tooth Here's the deal: I don't charge money for this show, but there is a cost and I would be extremely grateful if you would help drive awareness to the show, to get the word out by leaving me an honest rating and review over at iTunes, Google Podcast or whatever platform you are using to hear my voice.  It doesn't take that long and it's a small price for the value I try to provide.  And if you are looking to create your stable of private lenders, or know people who have money but don't realize the power of private lending, please, please send them a text, an email, a DM, and introduce them to the PLP. That's gonna do it for Episode 115 and just a few final thoughts: 1 – please join the PLP Facebook group to connect, learn, inspiration and discussion 2 - Remember, the easy button to lending in the Houston, TX market can be found at PLP.com/INK. So, as I sign off I'd like to say besides self-awareness, I...

Hello Private Lender nation and greetings from what used to be the energy capital of the world – Houston, TX. And welcome to episode 114 of the Private Lender Podcast, I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today.  If you're looking for practical tips and advice on Private Lending and how to build and maintain wealth without banks or wall street, then you are in the right place. And if want to put the power of a bank in your retirement account, you should probably pull up a chair. But if you want to learn from my mistakes so you can avoid them, and save yourself thousands of dollars and heartache in the process – well then pour yourself a drink my friend, because this podcast is just for you! Let's start with 400lbs gorilla in the room – where have I been?  Well, let's just say that while mother nature has not been kind to the united states this year , she's been kind to my wallet! Let me just say that business is booming! Which is great for me, but when you pray for rain, you have to deal with the mud. So that means I've been on the road traveling more, seeing my kids less, and sitting elbow to elbow with people on airplanes, all while maintaining proper social distancing, as mandated by the airlines! Happy to be back home, and get back behind the mic, and back into the episode groove! And I'm happy to say motivation is flowing back and work on the PLA continues – albeit slower than I would prefer! I think I might drop a surprise episode into the mix soon so keep listening for more info. Housekeeping: 1 – PLP Facebook group: Private Lender Podcast (public) Go to Facebook and search for the Private Lender Podcast group and click the https://www.facebook.com/groups/674936429994760 (https://www.facebook.com/groups/674936429994760) Show notes page for the link 2 – did you know there is an easy button when it comes to starting your journey to becoming a kick-ass Private Lender? Yep – there is. You can partner with my friends over at Ink lending and fund their loans on properties right here in the Houston area, in one of the most lender-friendly states in this great country of ours! That's right, Paul Lamnatos and his team vet the deals, underwrite the loan and put your money to work for you – about as passively as you can get – they even service the loan on your behalf! You don't have to be like me rushing to file 1098's and other tax documents on January 31st at 11pm. . . .every year!  If you would like to learn more go to PLP.com/INK, click the link, enter your info and Paul will reach out to confirm a time when you can speak to him about Ink's lending criteria, their loan process, and how you can begin profiting from loans on properties located in the greater Houston area – in a very lender-friendly state.  How's that you ask? Texas Foreclosure Facts:  ·        Non-Judicial ·        2-3 month process ·        NO redemption period ·        Deficiency Judgements are allowed Once again go to PLP.com/INK OK, so here we go! Today marks the first in a series of episodes that are based upon the lessons found in the book The Richest Man in Babylon written by George Samuel Clason. If you haven't read this book, then as your presumptive power of attorney I suggest you get a copy and read it immediately. Purchase or go to your local library and check it out today! I was given a copy when I joined a 2-day REI mastermind about 6 or 7 years ago. Steven Kaufman of episode no's 1 and 100 fame led the mastermind, and it changed my world – the very way I began to think about money, investing, and things like forgiveness and integrity. I read the book within a day, and so I began to challenge my definitions of...

The 6 Pillars of Private Lendinghttps://www.facebook.com/groups/674936429994760 (Click Here to join the Private Lender Podcast Facebook Group)Hello everyone and Greetings from the energy capital of the world – Houston, TX. And welcome to episode 113 of the Private Lender Podcast, I'm your host, Keith Baker and I'd like to thank you for sharing your time with me today.   http://PrivateLenderPodcast.com/ink ()   If you're looking for practical tips and advice on Private Lending and how to build and maintain wealth without banks or wall street, then you are in the right place. And if want to put the power of a bank in your retirement account, you should probably pull up a chair. But if you want to learn from my mistakes so you can avoid them, and save yourself thousands of dollars and heartache in the process – well then pour yourself a drink my friend, because this podcast is just for you! How's it going Lender Nation? Wow, here we are at the beginning of the fourth quarter 2020, which has been arguably the most bizarre year in recent memory. I hope you are well and that you are doing more than just surviving in this Coronavirus universe that's filled with pandemic fear, politics, and sensational media coverage because even the Weather Channel had to go really sensational to compete with the shit going down in this great country of ours. OK, back to drinking – so after you've pulled up your chair and had a drink, I want you to set it down on the easy button to beginning your private lending journey.      What's so great about that? A seasoned professional lender vets the loans for you, who only lends in their backyard (the greater Houston, TX area). Fun Texas Foreclosure Facts: Non-Judicial 2-3 month process NO redemption period Deficiency Judgements are allowed Go to http://privatelenderpodcast.com/ink (PrivateLenderPodcast.com/ink) to learn more about how you can hit the easy button and begin your private lending journey by letting Paul and folks at INK Lending vet the loan for you, on a property in a lender-friendly state. I have a bit of an announcement, or perhaps a re-announcement. I'm finally stepping into the 21st century – excited to say! After being asked by a few listeners including Steve Hiltabiddle (thank you guys) I am embarrassed to announce that I forgot I had previously created a Facebook group for the Private Lender Podcast but haven't pushed it forward and have seemingly left it to die. I just admitted a guy who applied 6 weeks ago – that's my Homer Simpson moment – DOH! But now I am bringing it back, pushing awareness for the Private Lender Podcast FB Group and hoping you will join me there if you haven't already. This is a public group but You will need to answer a few questions before being granted access. However, once you are in you will be in a community of private lenders and other like-minded people, and your popularity is guaranteed to increase immediately. Once your membership is approved you will be able to ask questions, bounce ideas off other lenders, ask for references for service providers, vendors, etc.  And I will be posting more useful things hopefully a little more often – well that's my plan! Go to Facebook and search for the https://www.facebook.com/groups/674936429994760 (Private Lender Podcast group) and join https://www.facebook.com/groups/674936429994760 (https://www.facebook.com/groups/674936429994760) OK, let's get down to the brass tacks of episode 113. In Episode 111 we began building your foundation of successful private lending by discussing the 7 core values, that will help give you a touchstone for when you are uncertain. To give you a place to collect your thoughts when you are in doubt. Well in this episode we are going to discuss the pillars of private lending. Your decisions will stand on these pillars, which stand upon your core...

  Since quitting his healthcare job after 8+ years, Jaspreet Baveja has been helping others achieve the dream of passive income through private lending. Jaspreet is the CEO of https://jgbllcre.com/ (JGB, LLC) and has built a business that allows him to pursue his passions of travel and spending time with his family while generating income on his terms. Today, he chats with Keith Baker to explain his process, lending methods, and habits and how he's able to lend on properties over 2000 miles away from his home. Listen to the podcast here:[smart_track_player url="" title="PLP 112 - Lending On Properties 2,000 Miles Away With Jaspreet Baveja" ] Lending On Properties 2,000 Miles Away With Jaspreet BavejaLender Nation, greetings from the energy capital of the world, the last time I checked, it's Houston, Texas. I'd like to thank you for sharing your time with me. If you're looking for practical tips and advice on private lending and how to build and maintain wealth without banks or Wall Street, then you're in the right place. If you want to learn from my mistakes so that you can avoid them, well then pull up a chair and pour yourself a stiff drink because this show is for you. This is dedicated to giving people just like you and me, the knowledge and confidence to participate in the most passive form of real estate investing known to man, private lending. If you're looking for the easy button or a shortcut to beginning your private lending, then head over to http://privatelenderpodcast.com/ink/ (PrivateLenderPodcast.com/ink) to learn how you can put your money to work for you by investing in private and hard money loans in and around the Houston area. In case you haven't heard me say it before, Texas is a very lender friendly state with a relatively short foreclosure period. That's why we private lenders like lending here so much. As this episode is being released, it is Labor Day in the United States. To be specific, this episode is dropping on Monday, September 7th, in this dreadful year of our Lord, 2020. I'm going to go off the ranch here, but I noticed earlier that the acorns had started the fall from an oak tree in my backyard and the squirrels are beginning to hoard their stash for the winter. It was quite fun to watch them not fight but scurry around. They were very excited about the fresh acorns that had fallen. Given the year it has been thus far and not knowing what the next four months are going to bring, not that January 1 is going to suddenly make our lives any better, but I've adopted a mantra and motto which is a very determined and emphatic plea to you, dear reader, and that is this. Three simple words. Prepare for winter. It's coming. The squirrels know it. If you haven't seen like something's coming, I don't know how much crazier things can get, but I don't want to ask. I think it's a good time to prepare for winter. Start putting those acorns back, start not spending so much. Maybe get a little more conservative in the fiscal side of things. I'm trying to do that. At the same time, I'm trying to also become more liberal on the giving and the tithing and whatnot. As they say, the more you give, the more you get back. I'm trying that myself. I'm not suggesting you necessarily do that, but just saying that's where I'm at. We've had a hell of a nice long run on this bull market. We'll see what happens, but okay. Our topic is one for which I receive quite a few questions, and that is how to lend beyond your own backyard. I always say people tell people to start in their backyard before they move out and lend out of town or even across state lines. It's something that I don't do myself because I don't need to leave Texas. It's fairly secure and safe for me and I can go still see the properties. However, I have the privilege of speaking with https://jgbllcre.com/ (Jaspreet Baveja), a private lender in the San Francisco Bay area who's going to talk about how he generates positive ROI...

Seven Core Values ROI - Return OF Investment ROI - Return ON Investment (Profit) Integrity Discipline Creative Initiative Take responsibility and be accountable for everything Always Learn More " And you who philosophize disgrace and criticize all fears Take the rag away from your face. Now ain't the time for your tears." from "The Lonesome Death of Hattie Carroll" - Bob Dylan Stay safe out there! -k

  What is the easiest way to start private lending? We have learned from one of our previous episodes that the most passive way to do this is to lend your money to other lenders and let them do all the hard work for you. While this lending to lenders scheme certainly is an easy button, you still have to perform your own due diligence when doing deals. In this episode, https://www.linkedin.com/in/paul-lamnatos-10b34b24/ (Paul Lamnatos), Chief Lending Concierge and Managing Partner at http://www.blinklending.com/ (BlinkLending), joins Keith Baker and gives us a ton of tips and advice on how to proceed in these deals. Make sure you settle down, take notes and learn how to make money in private lending – in a blink. --- The Fastest Way To Start Private Lending With Paul LamnatosI'd like to thank you for sharing your time with me. I hope everyone is doing well out there in this COVID. This is going out sometime in August 2020 and I'm already getting ready for my kids not going to school at least until January. Poor me. In episode 108, we had http://privatelenderpodcast.com/episodes/plp-108/ (Jason DeBono) on from NuView Trust. He discussed the most passive form of private lending and that is lending your money to brokers or hard money lenders and let them do all the heavy lifting. I call it the easy button as if there was such a thing. As a private lender, you still need to perform your own due diligence, but you don't have to worry about finding the borrowers. You don't have to worry about finding the deals. They facilitate that for you. I had the privilege of speaking with Paul Lamnatos from http://www.blinklending.com/ (Blink Lending), who delivers a ton of value. Read this when you're sitting down because he drops a lot of great value nuggets, knowledge nuggets, bombs, whatever you want to call it. He funds his own "hard money loans," but then he sells the notes to private lenders, like you and me. Get this, he guarantees his loans, which is something I never do. Enough of my jaw wagon, let's get down to the brass tacks into the interview with Paul Lamnatos. --- I am stoked to have Paul Lamnatos from http://www.blinklending.com/ (Blink Lending) with us on the show. Paul, welcome to the show. Keith, I'm happy to be here. Thank you for having me. The pleasure is mine. Full disclosure, Paul and I have known each other around the Houston real estate investing community for a few years. I met him when he was over at with Zeus and readers know that. Paul has done something rather interesting and spectacular and he's gone off, got his own, he's got http://www.BlinkLending.com (BlinkLending.com), where if you need a mortgage, a refi, the conventional, give them a look. There's also http://inklending.com/ (Ink Lending) and that is what I want to talk to you about and the model that you have, because you're not a hard money lender, you loan out funds and then sell the loans to private investors, private lenders. Is that correct? Yeah, that's right. You'll often hear private money, hard money lending. What's the difference between the two? Depending on who you ask one might say 6 and 1/2 it does or the other or tomato or tomato. At the end of it, I define it as where are you getting your capital from? Are you getting it from financial institutions like hedge funds, banks do lines of credits, or are you raising the money privately through your own funds and through your network of funds? Meaning people that have money sitting in an IRA account or a 401(k) or idle checking, savings account money. All of our funds are privately raised funds and because of that, we hang our hat on the private lending side of things like that better than hard money lending sounds better. The easy button for becoming a private lender is to loan your money to someone who's already loaning it out a hard money lender or like yourself you're funding loans and then selling the loans to the private investors. You're doing all...

Episode 109 Dear Lender Nation, Here are the links for Episode 109: https://www.youtube.com/watch?v=5J6jAC6XxAI&t=41s (Tim Ferris' TED Talk) https://plp.phonesites.com (Fear Setting Workshee)https://drive.google.com/file/d/1fUC5EHO-Qb-eoRMf_SI6AzX6LHVuPW9H/view?usp=sharing (t) Love the show? Subscribe, rate, review, and share! http://privatelenderpodcast.com/blog/how-to-subscribe-rate-our-podcast-5-stars-on-itunes/ (Here's How ») Join the Private Lender Podcast community today: http://privatelenderpodcast.com/ (PrivateLenderPodcast.com) https://www.facebook.com/PrivateLenderPodcast/ (Private Lender Podcast Facebook) https://www.linkedin.com/in/keith-baker-344944155/ (Keith Baker on LinkedIn) https://twitter.com/PrivLendPodcast?lang=en (Private Lender Podcast Twitter) https://www.youtube.com/channel/UCzctXatpCAOhF0XeV1fq2dQ?view_as=subscriber (Private Lender Podcast YouTube)

  Perhaps nothing could be as passive as letting others do the work for you. When it comes to passive investing, the easiest way to get into private lending is to loan your money to a hard money lender and allow them to do their magic. Guest, https://www.linkedin.com/in/jasondebono7/ (Jason DeBono) from https://www.nuviewtrust.com/ (NuView Trust Company), is someone who uses this as his own personal strategy, and he sits down with host, Keith Baker, to share his whys and hows with us. He explains his process from having the money in a self-directed IRA to making contact with the hard money lender or brokers, as well as some of his investment strategies in terms of self-directed IRA and cryptocurrencies. Plus, Jason then provides a couple of great wisdom and advice on working with lenders and borrowers and how to have more skin in the game. --- Listen to the podcast here:  Passive Investing: Private Lending Through Brokers And Hard Money Lenders With Jason DeBonoOur topic is one that I'm ashamed to say I haven't covered in the last hundred episodes or so, but that gets changed. I've often said the easiest way to get into private lending is to loan your money to a hard money lender. Let them do all the work, find the borrowers, vet the deals, look at the numbers, look at the properties, service the loans, make the payments. You're not going to get as much interest or points. You're not going to make as much but then at the same time, this is getting passive because you're not doing as much either. You're letting that hard money lender make the decisions, do those works, vet the deals, and tell the borrower, “No,” or “We'll do the deal, but you've got to have more money and more skin in the game.” I interview Jason DeBono from https://www.nuviewtrust.com/ (NuView Trust Company) and this is exactly his own personal strategy. I'm going to let him discuss it but it's like the truncated version of what I've been spitting out for the last hundred episodes. Without further ado, let's go ahead and get into the interview with Jason DeBono. --- https://www.linkedin.com/in/jasondebono7/ (Jason), welcome to the show. It's good to be here. How are you? How's it over in Florida? As everyone else, we're all adjusting and adapting to the new normal but all is well, thankfully. I hope you guys are staying safe. How is NuView Trust handling Corona? Are you allowing people and customers into the office? How's that working? Is it all online? Our business is nationwide. A fair bit of business comes into our office. It's a small amount. Even before the state shutdown, we had already closed our office to visitors. I've been working through getting people working from home. In our business, because of the line of work that we're in, there are too many things. We can't let the whole office go home. There are unfortunately too many things that come into our office like checks, mail, and stuff that has sensitive client information. We want to make sure that we're protecting our clients. We've got a good office building here that we can space out in. We're taking all the recommended precautions and then a little bit more to try to keep the place spread out. I love using self-directed IRAs for private lending. I do a lot of it myself. You let someone else do the legwork for you which I want to hear about. Please explain how your process goes from having the money in your self-directed IRA or making contact with that hard money lender, looking at the deal and flowing through the transaction. If you can start with that.  My time is spent overseeing the business and that takes a significant chunk of my time. I don't always have time to go out and pound the pavement and be out in the marketplace to find deals directly. I've done this for many years. I've got about 6 or 8 different groups that are in the lending business that are bright and do what they say they're going to do. I let them source the deals...

What can I say - I've hit my tipping point. I would categorize today's episode as a therapy session for me, so thanks for hanging in there. I hope you find some value in there. . . . If you want to find out more about how our federal representatives are compensated then start here: https://www.investopedia.com/articles/markets/080416/how-congress-retirement-pay-compares-overall-average.asp#:~:text=4%EF%BB%BF%20Currently%2C%20Congressional%20pay,to%20a%20401(k). (How Congress Retirement Pay Compares to the Overall Average) I'll be back next week with the an interview with Jason DeBono who discusses the most passive form of private lending there is.If you want to fact check the story I told, then please send an email to info@privatelenderpodcast.com and state Fact Check in the subject line. Love the show? Subscribe, rate, review, and share! http://privatelenderpodcast.com/blog/how-to-subscribe-rate-our-podcast-5-stars-on-itunes/ (Here's How ») Join the Private Lender Podcast community today: http://privatelenderpodcast.com/ (PrivateLenderPodcast.com) https://www.facebook.com/PrivateLenderPodcast/ (Private Lender Podcast Facebook) https://www.linkedin.com/in/keith-baker-344944155/ (Keith Baker on LinkedIn) https://twitter.com/PrivLendPodcast?lang=en (Private Lender Podcast Twitter) https://www.youtube.com/channel/UCzctXatpCAOhF0XeV1fq2dQ?view_as=subscriber (Private Lender Podcast YouTube)

  The number one rule in real estate investing is return of investment. That is, for every dollar that goes out, you want to get it back, if not, more. That is why people just starting with real estate investing stay away from subordinate liens. But what really are subordinate liens? On today's show, Keith Baker talks to https://www.linkedin.com/in/james-maffuccio-77440813 (Jim Maffuccio) about subordinate liens and how he got started in this world of distressed second liens. The Founder and Principal of https://aspenfunds.us/ (Aspen Funds), Jim's role includes identifying and developing key investment opportunities currently focused on distressed residential real estate debt, as well as leading efforts in business development, building and maintaining key relationships with hedge funds, note buyers, and sellers, and key service providers in the mortgage note industry. If you want to know if investing in subordinate liens is the right path for you, you wouldn't want to miss this episode. --- What You Don't Know About Subordinate Lien Investing With Jim MaffuccioThis is the only show that's dedicated to teaching everyday people, like you and me, how to prosper with the most passive form of real estate investing known to humankind, while giving tips and ideas that can help keep your money safe with private mortgage lending. It's just as simple. If you're looking for practical tips and advice on being a successful private lender and on how to create wealth without banks or Wall Street, then you're in the right place. If you want to learn from my mistakes so that you can avoid them, jump around them and prosper much quicker, then pull up a chair and pour yourself a stiff drink and get ready to take notes because this show is made just for you. The show does not constitute an offer to sell, a solicitation of an offer to buy or recommendation of any security or any other product service or investment. We're only talking here and rapping out loud. Do your own due diligence and make sure you stay compliant. Having said that, let's get into the heart of the matter. I've got the good fortune of talking with Jim Maffuccio from https://aspenfunds.us/ (Aspen Funds). Not long ago, I decided that I was going to no longer interview real estate fund managers for various reasons. Mostly, because I had locked onto some green fund managers and they didn't exactly succeed. Knowing that I wanted to be conscious of who I led on the show, what we talked about, so on and so forth so I say, “No fund managers for a while, except those few crowdfunding, and things like that.” One of Jim Maffuccio of Aspen Funds' assistant reached out to me and said, “Would you consider interviewing Jim on the show?” I immediately said, “No. Thank you, but I can't recommend anyone invest in subordinate liens and especially nonperforming subordinate liens.” [bctt tweet="There are no bad notes, only bad prices." username=""] I didn't feel like it was a good fit, but the more I thought about it, I was thinking, “Who's better to speak about such a topic on this show?” It is a topic I'd like to cover, but it's one that I don't feel like I have much authority on. I have done some lien lending in the second position, but I don't feel like I have done it enough to talk confidently on it. I decided, “Probably, it wouldn't be a bad idea to have someone like Jim to come on and talk about the ins and the outs.” Just because I don't do something, it doesn't mean that I can't interview someone who does it. It doesn't mean that I can't learn from Jim's process to help you do the same. That's the whole purpose of this platform. At the end of the day, here we go interview with Jim Maffuccio of Aspen Funds. Let's get down to the brass tacks in his interview. --- Everyone, thanks for joining me. I want us to give a special thanks to Jim Maffuccio, who has come on to talk about his https://aspenfunds.us/ (Aspen Funds) and the particular niche that they've...

What is up Lender Nation? Greetings and welcome to the Private Lender Podcast, I'm your host Keith Baker and you are listening to episode 105. This podcast is the only one of its kind dedicated to teaching everyday people (just like you and me) how to prosper with the most passive form of real estate investing known to humankind, while giving tips and ideas that can help keep your money safe – with Private Lending. Look, it's just this simple: If you're looking for practical tips and advice on being a successful Private Lender, on how to create wealth without banks or wall street, then you are in the right place. But if want to learn from my mistakes so you can avoid them and prosper much quicker - well then pull up a chair and pour yourself a drink and get ready to take notes my friend, because the Private Lender Podcast is made just for you! Let just start by saying I'm not sure where today's episode will end up, but I need to produce an episode – I've been stuck in the creation process recently and I think I know why: I don't want to talk about private lending – with all the shit going on in the world, I'm not really in the mood. I'd honestly rather talk about current events other things that don't fit the scope of this podcast – but these topics are not my expertise, so I prefer to look to others for inspiration.   Last episode I played John Coltrane's Alabama on the podcast and Youtube + Facebook flagged it for having a copyright. So this time I'll just put the links up on the show notes page so I don't get censored. So let me run down my recent list of people I have relied upon for perspective: [caption id="attachment_2917" align="aligncenter" width="300"]https://www.youtube.com/watch?v=saN1BwlxJxA () John Coltrane[/caption] 1 – John Coltrane – even if you don't know what the song Alabama is about, it is extremely haunting. https://www.youtube.com/watch?v=saN1BwlxJxA (Alabama)   [caption id="attachment_2926" align="aligncenter" width="201"]http://privatelenderpodcast.com/wp-content/uploads/2020/06/Day.jpg () Billie Holiday[/caption] 2 – Just like Lady Day (Billie Holiday) and her song Strange Fruit. Listen to it and tell me it doesn't screw with your head: https://www.youtube.com/watch?v=-DGY9HvChXk (Strange Fruit) These two musicians wrote and performed the truth with humility, honesty and vulnerability. The remaining two individuals are still alive and working in America. I follow both of these men because they are outspoken, and I don't always like or agree with what they say – but I always respect what they say, and I will make the time to listen to them. Through their content they have insured that I respect them as people – people who work hard, who have opinions and emotions. No different than me and you.   http://privatelenderpodcast.com/wp-content/uploads/2020/06/Chapelle.jpg () The first person whose content I would like to share with you is from the great Dave Chapelle and his Youtube recording entitled https://www.youtube.com/watch?v=3tR6mKcBbT4 (“8:46”). I don't recommend this to you for the laughter, because there are only a couple of belly-jiggling funny parts. This is real. Watch it. https://www.youtube.com/watch?v=3tR6mKcBbT4 () I recommend 8:46 in order to provoke thought. Thoughts and beliefs for and against what you are about to hear, either way – it's thought provoking because I believe Dave Chapelle presents the truth with humility, honesty and vulnerability. https://podcasts.apple.com/us/podcast/46-hot-af-is-hot-af/id1012570406?i=1000477693302 () Just like businessman Andy Frisella, and his REAL AF podcast episode 46. I provide the link to this episode because whether I agree with him or not – I believe he presents the truth with humility, honesty and vulnerability. https://podcasts.apple.com/us/podcast/46-hot-af-is-hot-af/id1012570406?i=1000477693302 (Real AF Episode 46)   Look folks, as I keep walking down my...

http://privatelenderpodcast.com/wp-content/uploads/2020/06/four-black-girls-killed-in-bombing-of-birmingham-alabama.jpg () 1963 Addie Mae Collins Carol Denise McNair Carole Robertson Cynthia Diane Wesley     2020 George Floyd My grandmother always said "there's a lot of meanness in the world." Today will be a very short episode as I do not have much to say.  But I've decided to let the music of John Coltrane speak for me, but really for so many others. . . [caption id="attachment_2917" align="alignleft" width="300"]https://www.youtube.com/watch?v=saN1BwlxJxA () John Coltrane is legend[/caption]   https://www.youtube.com/watch?v=saN1BwlxJxA   Also, check outhttps://www.edmylett.com/ ( Ed Mylett) at: https://www.edmylett.com/ and Ed's Instagram: https://www.instagram.com/edmylett/ (https://www.instagram.com/edmylett/) https://www.instagram.com/p/CAxnKT3BAMY/?utm_source=ig_web_copy_link (Click Here) if you would like to read Ed's post that inspired today's episode #MAXOUT  

One of the most common things to note when doing real estate transactions is the appraisal of the property. Through this, the value of your property or deal is appropriately assessed. Continuing with the second part of the series on appraisals, Keith Baker goes over the Uniform Residential Appraisal Form, also known as Fannie Mae Form 1004 and Freddie Mac Form 70. Here, he breaks down the document and gives a page-by-page look into the sections that show the things that will help you analyze the properties or deals. If you are new to this, it helps to take a look at this essential form. This is a great tool that you can add to your toolbox when it comes to evaluating the value of a property and more. --- Appraisals Part Two: The Uniform Residential Appraisal FormThis is the one and only show of its kind dedicated to teaching everyday people like you and me how to prosper with the most passive form of real estate investing known to humankind, private lending. While at the same time giving tips, tricks, and ideas that can help you keep your money safe. It's this simple. If you're looking for practical tips and advice on becoming a successful private lender and how to create wealth without banks or Wall Street, then you are in the right place. If you want to learn from my mistakes so you can avoid them and prosper much quicker, then pull up a chair and take some notes because this show is for you. [bctt tweet="My money. My terms." username=""] Early May 2020, Texas has begun to open back up from the Coronavirus shutdown and lockdown. I understand the death toll is still rising in the United States but hopefully, we can get over and around this quickly. Let's remember to keep our eyes on the prize. The present may be uncertain but the future is to be determined by us. Our topic is Part Two on Appraisals. I'm going to go over the Uniform Residential Appraisal Report or also known as Fannie Mae Form 1004 and Freddie Mac Form 70. It's a seven-page document including definitions, amendments, certifications, some language, and all that fun stuff. There are about three pages that we're going to dive into and go over in detail with the actual report. I'm going over a report from a house I sold several years ago. This appraisal report is 35 pages in length. Let's go ahead and jump right into it and start looking at this. You can download a blank version of the https://drive.google.com/file/d/1IMFa1hdB5uaIRpBo7u_gpze5-PD9j8-c/view (Uniform Residential Appraisal Report) on the website. On the first page is the invoice a lot of times. In this case, the appraiser that the borrowers' lender used put the invoice first. I see that they paid $470 for the appraisal, which several years ago is not bad. I eyeball around the $500 mark for a little bit of inflation. The second page contains appraiser certifications, the requirements, list of the subject property, who the borrower is, especially the lender's name because that is the actual customer of the appraisal report. The third page of this particular report is a cover page. It has a photo of the house I sold, the lender-borrower address, and basic stuff. The fourth page is a letter to the lender saying, “You hired me. Here it is. Subject to all limitations and discrepancies listed herein.” That's the formality of communicating the appraisal report to the lender, which in this case is going to be you. You want to read every page of your appraisal report very carefully. Page five is the summary of salient features, which goes on to describe the overall dwelling, the improvements, the number of beds, baths, so on and so forth. I address the legal description. The lender and borrower are both identified.   Page six is the actual first page of the Uniform Residential Appraisal Report as put out by the government. It's broken down into sections or paragraphs, which on the left-hand side you'll see the first being the subject property, the borrower, the lender, the type of loan,...

  Before any property is purchased or sold, it's important that it undergoes a thorough appraisal. The importance of an appraisal truly cannot be underestimated because you should know the actual value of the property you're buying or selling, lest you operate at a loss. Keith Baker discusses the importance of an appraisal in the lending process. In doing so, he outlines the three types of appraisal approaches and gives you nine questions to ask when selecting an appraiser to join your team of professionals. Get familiar with the process of appraisal today! --- Appraisals, Part 1: The Strength Of A Good AppraisalPlus 9 Questions You Should Ask Before Hiring An Appraiser On Your TeamThis show is the only one of its kind. It's created and dedicated to teaching everyday people, like you and me, how to prosper with the most passive form of real estate investing known to humankind, private lending, while also giving tips and ideas that can help keep your money safe. It's this simple. If you're looking for practical tips and advice on being a successful private lender, then you're in the right place. If you want to learn from my mistakes so that you can avoid them and prosper much quicker, then pull up a chair and take notes because this show is made for you. It is late April in the year 2020 and the global death toll from COVID-19 has crossed more than 200,000 lives lost. I hope you stay safe and sane. No matter how crazy things get, it's up to us to choose to stay positive and to create our future, whatever that will come to look like. Let's keep our eyes on the prize. Our present is uncertain, but the future is up to us to create. Our topic is appraisals and the nine questions you need to ask your any potential appraiser if you're going to add them to your team. Remember as the lender, you choose the appraiser, but the borrower pays their fee so it doesn't cost you any money. I will roughly go over the three types of appraisals, the different approaches, which one we'll use for single-family. The two that I use myself, but the one that is the single-family standard. We'll get into some questions. This is part one. On part two, I'll go over the actual form from Freddie Mac and Fannie Mae that you most likely had when you bought your house, even if you're not an investor. I have a question for all the real estate investors out there and homeowners. Have you ever had a purchase or a deal killed because the appraisal came back too low and the bank wouldn't fund the loan? It happens all the time, especially in volatile markets. It is frustrating, to say the least. I have a friend who is selling his personal residence. It's not a real estate deal, but it's a normal retail sale. It was killed because the appraisal came back lower than what the bank was comfortable with. That's where I want to get to this. Banks aren't in the business of evaluating the value of properties, so they hire out a third party expert, a professional to do it for them. They use that to make their lending decisions in there and base their criteria and terms. As a private lender, it is no different. You want to seek the unbiased opinion from a third party on the market value of a property and base your lending decision and terms off of that. It's critical. The keystone number for a deal is, “What is that After Repair Value or ARV? What is the value? What is the realistic after repair value in the future for a retail sale?” Even if it's a rental, all my criteria and decisions are based on the number that I come up with or what that appraisal gives me. I do my own. [bctt tweet="You are the CEO of your money. Act like it!" via="no"] I look through the comps, but it is nice not to have to do that and to have somebody else who does it for a living do it and gives me the report. It takes me a few minutes to read through it and decide, yes or no, which way I'm going to go on that particular loan. It's time to get down and dirty. There are three types of...

  The current Coronavirus situation has left many of us feeling helpless and anxious. Nevertheless, hope is not at all lost, especially if you are planning to start your journey to becoming a private lender. In today's show, Keith Baker tells you now is the perfect time to do that. In the service of providing the positivity that we all need right now, he shares with us three silver linings that we can get from the current situation. Here, he taps into what we can do with self-directed IRAs and then reminds us that our future is solely up to us. --- Three Silver Linings For The Long-Term During This Difficult TimeNow Is The Perfect Time To Start Your Journey To Becoming A Private Lender In A Self-Directed IRAThis show is the only one of its kind that is dedicated to teaching everyday people like you and me how to prosper with the most passive form of real estate investing known to humankind while also giving tips and ideas that can help keep your money safe with private mortgage investing. It's this simple. If you're looking for practical tips and advice on being a successful private lender and how to create wealth without the banks or Wall Street, then you're definitely in the right place. If you want to learn from my mistakes so that you can avoid them and prosper much quicker, then pull up a chair and pull yourself a cup of latte Larry's coffee because the Private Lender Podcast is made for you. This episode 101 is sponsored by the letters WTF. I hope you are safe and well amid the COVID-19 pandemic wherever you are. As of mid-April 2020 on the global scale, there have been 2.4 million confirmed cases of infection, 623,000 have recovered and 165,000 have perished. Here in the United States, 22 million have been able to file their applications for unemployment insurance. I've completely brought the mood down and bummed everybody out. I do want to have something positive for everyone. In the spirit of finding positivity in crap, we're all going through this together, yet we're supposed to be apart or at least at a safe distance. No one can remember anything like this affecting us in the US as much as it has since SARS. In the spirit of trying to find a silver lining, I'm not going to promise to make lemonade from all these lemons. I believe this can be a step in the right direction, especially if your life's been dumped upside down and you're one of those 22 million people looking for their next paycheck. Keep your enterprise. The present is uncertain, but the future is up to you and me. It's up to us. I don't want to give any false hope. Times are crappy. We're going to have to buckle up. [bctt tweet="You are the CEO of your money. Act like it!" username=""] What I'm talking about here will not satisfy any short-term needs like putting food on the table or paying any bills, but then you don't read this show for that. The moves I'm talking about making are definitely to help you in your long game, but also knowing that the short-term is very bleak. For example, the former Mrs. Baker was laid off because of the effects of Coronavirus on the company she was working for. That sucks. It's not a great time for her. There are a lot of unemployed people and unfortunately in Houston, the job market for oil and gas, especially the upstream is not in a good swing. It's going down. I don't wish harm to anybody but history does tell us that during uncertain times like these is when giant shifts in society and wealth can be made. I believe this COVID-19 has the ability to make more private lenders than any other time before. It's going to help open the doors of opportunities from the millions who have been affected. It's going to happen in an ugly and crappy way. Silver Lining Number OneIf you can hold your breath like Andy Dufresne in the Shawshank Redemption, you can crawl through a mile of crap and come out clean on the other side. A lot of bad things are going to happen to people and to good people, people...

Hey Lender Nation! I just wanted to pop in your ears and say that I hope you and yours are well, safe and keeping sane! I don't have a full episode ready for this week, but I hope you enjoyed last week's Episode 100 with Dr. Steven Kaufman. When I started out, I had only sketched out enough topic material for roughly 45 episodes, and now I have released 100. Not every episode has been a classic but that is my goal with each future episode. I have made it this far and I want to go a lot further. Because you listen and connect with me I want to thank you for letting me achieve 100+ episodes - I greatly appreciate it! I'll see you on the other side of this pandemic! -Keith

  Many people underestimate the true importance of the correct mindset in achieving the things they want to be able to achieve in their lives. This so-called "mindset for success," contrary to most people's thinking, influences so much of what you do, and it all begins with making sure you're taking care of yourself. https://www.linkedin.com/in/thestevenkaufman/ (Dr. Steven Kaufman) is the Founder and Chief Acceleration Officer of https://zeuslending.com/ (ZeusLending.com). Steven joins Keith Baker in diving into what makes a good, strong mindset for success. In discussing faith, fear, and integrity, Steven breaks down what you need to develop the mindset for success because it truly starts within you. --- A Mindset Milestone: An Interview With Dr. Steven KaufmanIf You Only Listen To One Episode Of This Podcast, This Better Be It...Greetings from the energy capital of the world inside the Corona versus Earth. Welcome to episode 100. I'd like to thank you for celebrating 100 episodes with me. Thank you for reading. I appreciate you sharing your time with me. We are dedicated to teaching everyday people just like you and me, how to prosper with the most passive form of real estate investing known to mankind. Not a job, not hard money lending, investing, while giving you tips and ideas that can help and will keep your money safe. It's simple. If you're looking for practical tips and advice on being a successful private lender or on how to create wealth without banks on Wall Street, then you are in the right place. If you want to learn from my mistakes so that you can avoid them and therefore shorten your own learning curve, which is what you should do, pull up a chair and pour yourself a dram of the best because this is made just for you. In honor of the 100 episodes milestone, I bring back my first ever guest all the way back from episode number one, http://privatelenderpodcast.com/episodes/bestof1/ (Mr. Steven Kaufman). This interview was several weeks before the Coronavirus became a pandemic and a fixture of reality in everyone's mind. As you're reading, I know you will find an extreme amount of value out of what Steven discusses particularly these three topics: faith, fear and integrity. I can't think of anyone outside of my own family who has had a bigger impact on changing my mindset for the better than Steven. That's why I brought him back here to help me work on my mindset as you get to read to give me a bit of perspective in order to achieve the next level, whatever that may be, especially during the challenging times in which we find ourselves. I'm very fortunate that I was delayed in this. This is perfect timing for episode 100. I asked Steven to speak about a couple of concepts that may be providing a lot of negative thoughts in your own mind and hopes that his words will cut through the noise and give you some ammunition to change and improve yourself, because I know Steven has done the same for me. For the record, to my knowledge, Steven Kaufman does not have a drug problem. It's a colloquialism, but it is. I asked him to tell the story of how he developed a drug problem, which is my favorite story of achievement. The making up of one's mind, committing to a cause and taking action. The action is necessary to achieve goals whether they be financial, personal, spiritual or any related to any pursuit for which you feel it's worthy. Maybe you want to communicate more effectively, you want to have better relationships with your children or your spouse, or you want to have a retirement that allows you to travel. Whatever makes you tick, it doesn't matter. Let's go ahead and cut to the chase. Let's get to this interview with Dr. Steven Kaufman on this 100th episode.  --- This is my distinct honor to introduce to you once again, Mr. Steven Kaufman of Zeus Mortgage. Welcome back, Steven.  Thanks so much for having me, Keith. First I should say, I mis-introduce you there because you are

  We are in the midst of a global crisis. While we're all grappling to win over against its effects, it helps to gather a couple of lessons that we could take to aid us in these uncertain times. In this episode, Keith Baker guides us in creating our lending criteria moving forward. He talks about how to lend in preparation of price fluctuation for when the world becomes unhinged. Giving some context, Keith also talks about the effects of the COVID-19 Pandemic to Houston and to the rest of the world. Don't miss out on learning some important advice that might just help you stay safe in an unsafe market. --- Creating A Lending Criteria During The COVID-19 PandemicHow To Stay Safe In An Unsafe MarketI'd like to thank you for sharing your time with me. We are dedicated to teaching everyday people like you and me how to participate in the most passive form of real estate investing known to mankind. That is private mortgage investing while giving tips and advice on how to keep their money safe. It's simple. If you're looking for practical tips and advice on being a successful private lender on how to create wealth without banks or Wall Street, then you're in the right place. If you want to learn from my mistakes and my screw-ups so that you avoid them and therefore shorten your own learning curve, then pull up a chair and you might as well go ahead and pour yourself a stiff drink or two because this is made for you. I want to invite everyone reading to join me on Monday, April 6 at 8:30 PM Central Standard Time for Ask A Private Lender on Facebook Live. I will go live for hopefully 30 minutes minimum to answer any questions you may have regarding private lending, both from the lender's perspective and for the borrower's benefit. I'm hoping everyone will find it helpful whether they want to lend or they want to borrow. I'm going to try to make Ask A Private Lender the place that gives the straight scoop. Please let other investors know that I will be going live and they can ask me anything they want about private lending. I hope to see you on Ask A Private Lender Facebook Live. When http://privatelenderpodcast.com/captivate-podcast/plp-098-warning-signs-your-borrower-is-in-trouble/ (episode 98) went live, I was in the great country of Scotland along the River Spey. I took my iPhone out and I recorded the sound of the water. I'm either one, completely off my rocker or two, an insane scotch alcoholic or three, all of the above. I'm getting high tech and fancy. When the last one dropped, I was canceling. I had planned to go to the Macallan and the Glenlivet distilleries and that's my thing when I get over there. Unfortunately, the conference was canceled so I had to go back to London and found myself literally 36 hours later on a plane flying back home to Houston with five days of unscheduled vacation ahead of me, which was great. It wasn't all that jet lag, but it allowed me to accomplish a few nagging chores around the house and get a billable hour or two here and there. After that full weekend, all hell broke loose and all of a sudden, I couldn't find a store to find any toilet paper in it or at least long enough to stay on the shelf for me to buy it. It's been a while since I came home. I don't know where the time has gone. It's a complete blur and I haven't felt like I've been able to produce any content that that seemed worthwhile. I've tried, but it seems like it's crap and there's a lot of noise on the interwebs. I want to make sure that my content is relevant and has some value or not something that has value to two private lenders and not be a soapbox so that I can preach to the choir. Episode 99, how to lend in preparation of price fluctuation when the world goes to hell in a handbasket aka what your lending criteria should be moving forward.   Like many of you, I've been watching a lot more CNBC and Bloomberg than usual, probably more than I would like to admit. I've made a few moves into the market...

https://www.facebook.com/capn.baker (https://www.facebook.com/capn.baker) Join Keith Baker as he takes to FaceBook live this Monday night at 8:30pm CST. Keith will be answering questions about Private Lending both FROM the perspective of the lender and TO the perspective of the borrower. Don't miss out on this amazingly free session with the THE Private Lender himself! Stay safe and let's get to the other side of this crap ASAP! -k

6 Signs your borrower may be in trouble 1.     Sudden lack or stoppage of regular communication 2.     Late payments/returned  3.     They ask you if you can lend them “just a little more” 4.     You have to chase them for an update 5.     They don't want you visiting the property 6.     Talk about changing exit strategies that require you to “stay in a little longer” (ask their previous lenders because shit does happen, but if they make such biz practices a habit, then you might want to pass on their loan if the numbers are getting thin.  

  The American investing industry can be a little bit confusing to get into at first because it's very much its own thing with plenty of unique quirks that require a good amount of study. Despite this, it's certainly not impossible to make sure that you're able to understand what you're doing and all the best ways to go about things. https://www.reedgoossens.com/ (Reed Goossens) is a real estate entrepreneur and investor who moved to the USA from Australia. Reed shares his experience with Keith Baker of investing in the US and navigating the industry from what was initially an outsider's perspective. Reed's story is an empowering story of finding success after finally being able to adapt, and it's certainly not to be missed! --- 10,000 Miles To The American Dream With Reed GoossensInvesting In The US With Reed GoossensThe Private Lenders Podcast is the only podcast teaching people how to become passive real estate investors while helping them keeping the money safe in investing in private mortgages to other investors. If you're looking for practical tips and advice on being a successful private lender and how to successfully build wealth without banks in Wall Street, then you are in the right place. If you are looking to learn from my mistakes and shorten your learning curve, then pull up a chair and pour yourself a few fingers of Scotland's finest and add a few drops of water, because this podcast is for you. Several years ago, I began listening to podcasts along with NPR and BiggerPockets. https://podcasts.apple.com/us/podcast/investing-in-the-u-s/id1071004776 (Investing in the US Podcast) was one of the few real estate podcasts that I had in constant rotation. Joe McCall was another one, Kevin Bupp as well. I found the story of the host of this podcast, coming from The United States and from Australia, and living off his version of The American Dream, I find it inspiring. I'm happy to have the man himself on the show, all the way from Down Under, Mr. https://www.reedgoossens.com/ (Reed Goossens). I think you're going to find Reed's story quite compelling. I hope that you find it as fascinating and valuable as I did. There's a lot of info that we go into. There are a lot of rabbit holes that we could have gone down, and looking back, perhaps we should have gone down a few of those. In the end, I hope you find the extreme value in this interview. Without any further ado, let's get down to the brass tacks and straight into the interview with Reed Goossens. --- I want to welcome https://www.reedgoossens.com/ (Reed Goossens) to the show. Reed, welcome. Thank you so much for having me. You're from Southwest, Texas. Southwest all the way up near Amarillo. I've already given them a little bit of background, but as we were talking in the pre-interview, your podcast is one of the first that I listened to many years ago when I was kicking around the idea of this show. The reason why I wanted you on is because the older I get, I'm a firm believer that there are two types of people: people that get it done or make progress and people that make excuses. When I look at somebody like you and hear your story, it makes me feel like a slacker. It gives me lots of motivation. For the people in the US that don't know who you are in the real estate investing world, can you give us a little bit of your background? How did you get to Amarillo from Australia?   I live in Los Angeles. The whole premise is that I moved to the United States in 2012 to chase two things. It was both for love. It was to live in New York City. I fell in love with New York City and to chase a girl. I'm married. That was coming over here back in 2012 on a whim to say, “Screw it.” I fear regret and I'd hate to wake up when I'm 70 years of age and go, “I wish I'd lived in the United States for a period of time.” On a whim, I quit my job. I knew there was an awesome visa here for Aussies and rocked up in New York City. My background is in...

We've already discussed why you should use a note servicing company in Episode 55. but today I thought I would shed some light on the things you should consider when you are in the process of selecting one to be added to your team of professionals. Reasons to use a note servicing company Reason #1: they make life easier for the lender, because they handle the tedious stuff like sending late notices Reason #2: Collect and keep track of all the payments Reason #3: they deposit the money into your account and give you a monthly statement Reason #4: (And the very best of all) Remember, I am lazy by nature, and don't want to spend a lot of time tracking the loans I make or chasing borrowers. They have people who will do it for you and the borrower pays the fees! You pass along the cost to your borrower. They pay for you not to be inconvenienced by your own investment. Sounds good to me – I really like it that idea! "Note all companies are not the same" ? Nobody is going to call me out onto the carpet for that one? That has to be the worst subtitle I've ever created for any episode. Well, I'll give you that it is the most dad-like joke I've crafted (I hope)! Things to consider when selecting a note servicing company 1 -Do they service your type of loan? Installment sale: Owner Finance notes/Wraps Mobile Home/Manufactured Housing loans? Multi-Investor Loans (aka Fractionated Loans) 2 - Do they provide additional services that your loan instrument may require? Impound/Escrow services for repair draw payments (not just taxes and insurance) Do they report to any credit bureaus?  3 - What is included with the standard or basic servicing fee? Welcome Letter to Borrower Payment coupons / online payments accepted? How often are payments processed? How long is the clearing period before disbursement of my funds? How are funds transferred? How far into the late notice period before additional fees will be charged? How are payments applied towards an account? Interest first, then additional principle, or any extra to be kept in escrow account? Reporting mortgage interest to the IRS (1098, etc.) 4 - BONUS - Here's a million dollar idea for you: Establish a relationship with your serving company and let them know you want to buy partials to first-lien notes, and/or discounted notes (perhaps non-performing). If they have a customer or associate Also, let them know you want to sell notes and partials to re-capitalize your funds more quickly. You may be able to use the servicing company to help you find not just prospects but real leads, and also sell to their customers or associates. Basically, what I'm saying is do a little legwork and networking. Make an effort to establish relationships and watch the leads come in. Social Links: https://www.facebook.com/PrivateLenderPodcast/ (Facebook) – Private Lending Podcast https://www.instagram.com/privatelenderpodcast/ (Instagram) – Private Lending Podcast https://twitter.com/PrivLendPodcast (Twitter) – Private Lending Podcast https://www.linkedin.com/in/keith-baker-344944155/ (LinkedIn) – Private Lending Podcast https://podcasts.apple.com/us/podcast/the-private-lender-podcast/id1329204836 (iTunes) – Private Lending Podcast https://podcasts.google.com/?feed=aHR0cDovL3ByaXZhdGVsZW5kZXJwb2RjYXN0LmNvbS9mZWVkL3BvZGNhc3Q%3D (Google Podcast) – Private Lending Podcast

  Choosing someone to spend the rest of your life with must not only be about the spark and connection you feel with each other. Beyond that, you must ensure that you are on the same page when it comes to finances. In this brief and very personal episode, host, Keith Baker, imparts this advice in light of the things he is going through with his own relationship. More than anything, we want our relationships to be happy and long-lasting. What Keith is going to share may just be the key to make it yours. --- Getting On The Same Financial Page With Your PartnerAdvice For A Lasting RelationshipIf you're looking for practical tips and advice on being a successful private lender and building wealth without banks or Wall Street, then you're in the right place. If you want to learn from my mistakes so that you can avoid them, then pull up a chair and pull yourself a stiff drink because this is for you. This is a bit of a Sunday sermon. I totally stole that from Andy Frisella, https://andyfrisella.com/blogs/mfceo-project-podcast (The MFCEO Project) and now he's got a new podcast called https://andyfrisella.com/blogs/realaf-podcast (Real AF). Do the math. Great podcasts, though. I do enjoy it. However, this Sunday sermon or it's a confession or confessional. I'm not even Catholic. While I have been driven, but also extremely fortunate to have learned how to generate a decent amount of money of income and how to play off offense in the money game fairly well. I'm not rich by any means, but I've done better than I thought I would with a philosophy degree. Let me put it to you that way. One area that I have completely lacked, and there are two areas. One is money defense, financial defense. I can't seem to put all my fingers in the holes in the dike. The water keeps coming out. I've got to say, this divorce thing has been a jacked-up blessing in disguise, but it's gotten me to look around and go, “I need to get my head out of my ass and get things going.” I previously admitted that my truck was repossessed while my ex-wife was three months pregnant with our first child. Now, as we move towards the future with this divorce, we often talk about the past and try to figure out where things went wrong, so to speak. From these conversations that we've been having, I want to provide you some unsolicited advice, to say the least. [bctt tweet="It is vital you get on the same page with your significant other when it comes to finances. Absolutely vital." username=""] Whatever your significant other is or beyond the binary thing I think, I'm not here to make any political statements. Whoever it is that you decide to spend your life with or to spend your time with, above all else, the only thing that I can beg and ask of you out there is please make sure that you and your significant other are aligned on the subject of money. It goes beyond spending less than you earn. Do both of you tithe? Do you both save for a potentially bleak future? Do you have an emergency fund ready to go? Can you both afford to drive a BMW, but choose to drive a Mazda or a Honda for the economic benefits and then take the savings by driving the lesser status symbol car? Can you take those savings and put them into income-generating assets to where you can buy a Mercedes or BMW for cash in the future? Unfortunately, my ex and I never got on the same page. That is one of the true and great regrets that I do have is that we couldn't seem to get there. I don't think I have to tell you how that turned out for us. All joking aside, what I would ask you to do is to stop whatever you're doing. Reach out to your partner or your significant other and tell them that you want to be on the same page. It's important to you for the longevity and the survival of the relationship. You want to be on the same page with them when it comes to finances. I'm not saying it's to agree on every point but come to some agreement. One spends a little too much money and the other one is...

  Successful people are not as unique as we would like to think they are. They possess in them shared qualities that propel them to the top. Much is true when it comes to the private lending space. In this episode, host Keith Baker lets you in on these qualities of successful private lenders that you can easily have. In fact, they are very universal. He lists four key traits that you can take to your practice and rise among them. So pull up a chair and pour yourself a nice drink. This insightful episode is for you. --- Four Universal Traits Successful Private Lenders HaveIf you're looking for practical tips and advice on being a successful private lender and building wealth without banks or Wall Street, then you're in the right place. If you want to learn from my mistakes so that you can avoid them, pull up a chair and pour yourself a nice stiff drink because this is for you. This topic was made possible from one of the free coaching calls I conducted. I want to thank everyone who took the time to email me with their questions and taking the time to set up an interview and web meeting and letting me help them define their lending criteria and answer questions or put some fears that they had at bay. I want to give a big thank you to Steve, who made this episode possible. This was one of his questions that he asked me towards the end of the call. I thought it was a good topic to discuss. What Steve asked me was, “What are the three key traits of a successful private lender?” I, fortunately, was able to write down and go back to my responses and I refined them a little bit so that I could provide them to you. As I was prepping, I came up with a fourth trait but it is not specific to private lenders, but I think the human condition in general, so I figured let's get started with that. [bctt tweet="My money, my terms" username=""] Self-AwarenessOur topic is the four key traits of successful private lenders. That first universal trait is self-awareness. I know that seems hokey and some gurus pounded on that, but it is very true. Learn who you are. It's good to know your strengths and your weaknesses. It's good to know where you excel in situations. Is it the analysis of looking at a deal? Is your weakness dealing with people? It used to be one of mine. That's why I joined Toastmasters to be able to speak to sellers ideally. It's helped me immensely with private lending. Being able to sit down and be honest and say, “I'm not so good at this.” I am not so good at record-keeping and that's why I love using escrow services or loan servicing companies because they take care of all that stuff for me. If you do everything yourself, you need to go ahead and file your 1098 mortgage statements, get the statements with the IRS and provide those to your borrowers if you haven't done that already. Knowing where are your strengths, your weakness, what makes you comfortable and what makes you uncomfortable is also a very good thing to know about yourself and how you respond in those situations. Usually, for me, something that is uncomfortable, I try to push forward a little. Not necessarily loan on that, but if I'm in some due diligence and I feel a little worried, I note that I stop, but at the same time I go back and re-evaluate and say, “What is it about this that gives me a bad feeling?” That's one example of using self-awareness to know where you're going to be. Are you comfortable with lending to people? Are you comfortable putting your money out there? Are you comfortable with learning the process and getting your hands dirty? Would you rather have more of a franchise model? They show you how to make the sandwiches, provide you everything to make the sandwiches and then help you sell the sandwiches. That's not just for private lending. I'm using private lending and real estate investment examples, but it's a good place to start with who you are as a foundation and as a person. What are your qualities? Are you disciplined?...

  On today's show, Keith Baker is joined by http://raysasser.com/ (Ray Sasser) and https://www.sellerfinanceme.com/ (Landon Rothstein) to discuss a niche topic that always seem to have a perceived risk - Subject 2 investing. What does it mean to purchase a property subject 2? Ray is known throughout the investor community as an expert rehabber as well as an expert transaction engineer. Landon is a full-time real estate investor and has teamed up with some amazing partners. Together they host one of the fastest growing real estate meetups in Houston. Don't miss this episode as they explain Subject 2 investing and lending in the 2nd position. --- Subject 2 Investing And Lending In The 2nd PositionRay Sasser & Landon Rothstein Explain Sub2 InvestingI'm going to bring on two guests that have been on the show before. They're both full-time real estate investors in the Greater Houston area. They are my friends, https://www.linkedin.com/in/ray-sasser-47b12725 (Ray Sasser) and https://www.linkedin.com/in/landon-rothstein (Landon Rothstein). I always tell people to avoid second liens until they are very seasoned and confident in what they're doing in private lending. However, this topic on subject-to, buying a property subject-to and possibly lending on what money the investor needs to get the seller out of the house. I've wanted to talk about this on the show, but I haven't figured out the best way to do that because I want to learn about it from all angles, not just from the lending perspective but something to incorporate into my investing portfolio. Make no mistake, I'm neither endorsing nor recommending you incorporate junior liens into lending any sub-to deals. It's a possibility. You can make money and you can lose a lot of money. It's just like any other thing, you've got to know what you're doing and navigate through tricky waters. I want to shed some light on this topic from two people who utilize this strategy in their real estate every day and they're not out on the circuit trying to sell a book. --- I'd like to welcome back two previous guests. Please help me welcome, Mr. https://www.linkedin.com/in/ray-sasser-47b12725 (Ray Sasser) and Mr. https://www.linkedin.com/in/landon-rothstein (Landon Rothstein). This is Ray. I'm honored that you put me on the upper billing of the marquee. You're very welcome. Thanks for coming back on because we are going to discuss a niche topic that I have stayed away lending on these types of deals because of perceived risk. I understand that you are one of the masters of creating a subject-to deal with and then getting private lenders to fund the down payment to the seller. Let's go ahead and back it all up and explain in case nobody knows what it is. What does it mean to purchase a property subject-to? In a nutshell, subject-to is you're taking over the note, the existing financing that's already in place from the seller. A lot of people get involved with subject-to but they don't seem to know the difference between a real subject-to and an assumption. What we're doing is not an assumption. We are leaving the financing in the original seller's name and then we're making the payments for that person. To get there, we have to do some catching up over arrears. I might have to make a payment to a wholesaler. The wholesaler is bringing me the deal and sometimes the seller will want some money. There will be some money that'll take to get into that position. Once you're there, you usually have a nice low-interest rate. I'm getting interest rates. I've had one as low as 2.8%. They're generally around 3% to 4.5%, maybe 5%, which is a whole lot lower than I pay my private lenders. You know this for a fact, Keith, because you're one of them. The subject-to is pretty powerful once you get into them. I charge a lot more than 3% to 5%, don't I? The main thing I was saying here with the difference between the assumption and taking over the position of the original seller is we're...

http://privatelenderpodcast.com/wp-content/uploads/2020/01/Neil-Peart-Poetics-Photo.jpg () Neil Elwood Peart12 September 1952 - 07 January 2020  Suddenly you were gone from all the fans' lives you left your mark upon.http://privatelenderpodcast.com/wp-content/uploads/2020/01/Neil-Peart-1.jpg () http://privatelenderpodcast.com/wp-content/uploads/2020/01/neil-peart-anthem-1.jpg () [caption id="attachment_2696" align="aligncenter" width="300"]http://privatelenderpodcast.com/wp-content/uploads/2020/01/neil-peart-obit.jpg () http://privatelenderpodcast.com/wp-content/uploads/2020/01/rush_peart.jpg ()[/caption] http://privatelenderpodcast.com/wp-content/uploads/2020/01/Untitled.jpg ()   Neil, thank you and goodbye       

  We all need to hire an attorney at some point in our lives. This is especially necessary when you're in the private lending business. Today, host Keith Baker lists down the eight questions you need to ask yourself when hiring an attorney to do either your foreclosures or draft the documents. You don't want to miss this episode because, at the end of the day, if your documents aren't right, it can cause a lot of headaches and can expose you rather than protect you. --- 8 Questions To Ask And Consider When Hiring An AttorneySelecting An Attorney For Drafting DocumentsIf you're looking for practical tips and advice on being a successful private lender and building wealth without banks on Wall Street then you're in the right place. If you want to learn from my mistakes so that you can avoid them and not repeat them, pull up a chair and pour yourself a drink because this show is for you. This is episode number 91, almost up to 100. I'm getting excited about that. One of the things that I get asked a lot is how do I choose attorneys to do either my foreclosures or draft documents. Fortunately, I only got one foreclosure and went with the recommendation of a friend. When it comes to having an attorney draft my documents, I like to have a slate or panel of them. Figured I'd go through that with you and hopefully share some insight into how my process is for doing this. Being a private lender, I want to mitigate as much risk and stay as secure as possible. That's when I want to convey over to you and especially if you're starting out. Even if it's your home state, I would not recommend lending in a state that had a lengthy judicial foreclosure process and low usury rates. That's a given. I wish we could dig a little more into that, but you don't want to lend in a state where there's a redemption period after foreclosure where the borrower can come back and make everything whole again and get the note going. The odds that they can't do it the first time, they're not going to be able to even if they reinstated the adds. They're not going to do it the second time. That's the reason I would suggest staying away from the redemption period states. Stay away from states that heavily favor the borrower or at least they have a very lengthy process to give the borrower a lot of time to make amends or do whatever they can to keep the note going. Since it's like New York, they have a very long foreclosure and lengthy process. It could take a couple of years to get somebody out and to get the collateral back to you. Not to pick on New York, but that is one example of a state that I won't lend in. Lend to a state whose laws are either the same or similar to Texas. It varies from state to state. What that basically means is you want a state that has non-judicial foreclosures, no redemption periods after the foreclosure is complete. That's one good thing about New York. They don't have a redemption period, but they might as well if it can take 2 to 3 years to get people out. They have a relatively short default period of 90 days, which I believe that's a federal law, not a state law. The acceleration notice period in Texas is relatively short, 21 days, from the time you file until the auction on the first Tuesday every month. That's how quick it can go down. Once the 90 days have been documented to fall to the notice accelerates gone out, all that fun stuff is gone. [bctt tweet="My money, my terms." username=""] Twenty-one days from the time you noticed the borrower until when you can get the house back or get your collateral back. Those are the states that I recommend you lend in and do your own due diligence, as always as the biggest caveat. There are 50 states and I only deal with the laws of one of those. That means 49 out there, at least 51 states out there that I don't know the laws. The eight questions and the things you want to consider when you're adding or looking for an attorney, especially for doc prep. This is where...