Thanks Austin for providing comprehensive detailed videos. Private money has been my missing link to my real estate career taking off and your videos give me the confidence to get it. I have my second meeting with a private money lender in 2 days and Im cramming in as many of your videos as possible between now in then to keep it fresh and flowing in my mind. Thanks for what you do!
I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
Thank you bro for breaking down into detail about private money, a lot of people don't go into detail in videos. But your content each video is so fire!! I appreciate it and keep up the grind!!
I just closed a 200k private money loan for a development in DC, I’m 21. I didn’t realize this was a thing. I’ll be sure to stick around and watch more of your videos. Trying to learn more of the legal and the small things to look out for.
Man this was a solid video, thank you. I’m looking to acquire private money in 2023, I’ll definitely reference this video, you broke it down so well. Thank You.
Thanks for this video. I never had a problem talking about money. Now you have totally encouraged me to direct my skills in my real estate. I really thank you. This is the way I really want go with lending. Great Job!
I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
Brother Love the way you explained the whole process. I am a general contractor and my end goal is to become real estate developer and flip houses like you do and i watch your videos all the time because you explain everything so smoothly. God bless you my man. Keep it up
So they are going to loan you 100k to make 6k it’s so hard imagining that then you go and make 50k or more? How do you find the money to renovate via contractors? Through another private money lender or is that where your own capital comes in?
Don’t know if you found the answer yet or not lol but money to renovate via contractors should be included in the loan. In order to not come out of pocket you have to factor in renovations, closing cost, and holding cost on top of what ever building (be it duplex or house) you’re buying. Then when you sell above asking price it should be enough to pay back your loans w/ interest and still come out with a check.
Austin... by any chance can you please provide an example of your “deal package” that you show potential lenders? I’m trying to put together something myself, but I’m having trouble and would love some inspiration!
1. Thank you!!! 2. Question: Are there fees associated with someone taking money from the self directed IRA? (New to this page, can you/have you walked through what that looks like?)
Makes sense! But what are the cons to this? Let's say you borrow 100k what if the property doesn't sell or sells below £100k then you would be in £100k debt.
Hi, Thanks for sharing this video. I have a question, can I borrow money from a private lender for a seller finance deal? They’re requesting 30k as downpayment, however, the house doesn’t have equity. Can I do a promissory note anyways although the house doesn’t have equity? Can I back his loan against the house? I read I could use them a equity partners but I don’t really want them as equity partners. I would like them to be my private money lenders. By the way this is a buy and hold rental. They are ok with no getting pay now. It’s a balloon payment in 7 years they said they are ok by me paying them in 7 years they just want the interest to be paid. Can you help me please? Thanks
I can help on stuff like this! I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
Would "lending tree" be a good place to get these loans? It seem it would be easier than going around looking for people. Being that it has people fighting to lend you money, with that you could pay less in interest and end up making more money on any given job. I don't really know, I'm only 15, just trynna get a head start on life. (I was wondering if you would make a video to answer my question.) Thank you for all the knowledge you have given to us all!
If you go to lending tree you will find conventional lenders. Conventional lender aren't going to lend on a property that needs significant repairs like most flippers like to buy. Cheap homes that need work. Your not going to get a loan from a convention lender not to mention it takes 21 to 30 days to close conventional loans. They have to check your credit income job history debt to income ratios etc. Hard money you don't have to go through that. To buy these homes to flip they don't give you 30 days to get a loan. Someone else is going to buy that house by then. So you need some if your own money and a hard money loan that get you the cash in a week. You're gonna need a chunk of change of your own money tho. You have 30% of the purchase price and the hard money investor gives you the other 70%. The hard money investor cares more about the house flip project complexity, your ability to get the work done and your bank statements showing you've your money.
I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
Thanks for the video. I came up on this video from one of your comments on TikTok. This step is nerve wrecking especially since it is other people's money. I'm in Illinois and this hurdle is the only one blocking my wife and I from potential wealth independence. I have no prior history so It's tough to speak on history and give the lender ease of mind. what about lenders who lend to first time flippers? what's the best way to approach that scenario/conversation? I have confidence about making something happen when it comes to investing in R.E, just need to get over that first step.
I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
Great video! Would you be able to give an example of what a contract between you and a private money lender would look like? I have the contractor in place who's willing to recoup his money after I sell the house on the open market, I got the cash in place from a private lender who's never lend money before so he is new, and I wholesale so I come across deals all the time. I just want to have all my ducks in a row and wondering if I need to prepare for terms/contract early on.
Networking is the key! A good private real estate lender will have lots of satisfied clients and positive word of mouth.
Happy to help. Private money lender here. Talk soon.
Life changing value Austin. This video will never age. The possibilities are unlimited. Thanks a lot man!
Absolutely! Thanks for being here!
Thanks Austin for providing comprehensive detailed videos. Private money has been my missing link to my real estate career taking off and your videos give me the confidence to get it. I have my second meeting with a private money lender in 2 days and Im cramming in as many of your videos as possible between now in then to keep it fresh and flowing in my mind. Thanks for what you do!
I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
Amazing and breakthrough information you gave us thank you this is GOLD.
Glad you thought this was valuable!!
Thank you bro for breaking down into detail about private money, a lot of people don't go into detail in videos. But your content each video is so fire!! I appreciate it and keep up the grind!!
Absolutely! Thanks for watching 🙏🏼💪🏽
I just closed a 200k private money loan for a development in DC, I’m 21. I didn’t realize this was a thing. I’ll be sure to stick around and watch more of your videos. Trying to learn more of the legal and the small things to look out for.
Bro what’s your email. I’m looking into getting in this private money game.
Gstar007 DM me on insta Ahirji786
How are you doing now 2 years later v
@@HEC892 Ha! I’m so glad you asked. It’s a long story, wouldn’t mind sharing but it will take some time.
@@alih4514 thanks for the response would love to hear it as I am hesitant to try this
Man this was a solid video, thank you. I’m looking to acquire private money in 2023, I’ll definitely reference this video, you broke it down so well. Thank You.
Thanks for this video. I never had a problem talking about money. Now you have totally encouraged me to direct my skills in my real estate. I really thank you. This is the way I really want go with lending. Great Job!
I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
Thank you Austin! I love your video and sharing ❤🎉🔥🔥
Yea this the best vid I’ve seen on explaining this!
Brother Love the way you explained the whole process. I am a general contractor and my end goal is to become real estate developer and flip houses like you do and i watch your videos all the time because you explain everything so smoothly. God bless you my man. Keep it up
Your already half way there just gotta start doing it for yourself!!
Facts. I raising private money. AGAIN.
Great articulated lesson brother
Thanks for the feedback!
this is really awesome, im trying to watch every single video and write down as much as i can, you make me feel really motivated
Time to blow up!!!!
Straight to the point
Thanks!!
So they are going to loan you 100k to make 6k it’s so hard imagining that then you go and make 50k or more? How do you find the money to renovate via contractors? Through another private money lender or is that where your own capital comes in?
Don’t know if you found the answer yet or not lol but money to renovate via contractors should be included in the loan. In order to not come out of pocket you have to factor in renovations, closing cost, and holding cost on top of what ever building (be it duplex or house) you’re buying. Then when you sell above asking price it should be enough to pay back your loans w/ interest and still come out with a check.
This is my guy right here. Thank you Austin
Absolutely thanks for being here!
This is so helpful information
Glad it was beneficial!
This is the video that reallyyyy has me thinking about signing up for the course. You’re a real one 💪🏽💯
Austin best video on private money hands down!
Thank you for that 🙏🏼🙏🏼
Thanks Austin!
Absolutely!
Austin... by any chance can you please provide an example of your “deal package” that you show potential lenders? I’m trying to put together something myself, but I’m having trouble and would love some inspiration!
Hey! Yes we basically just give them comps, Auditor, numbers, and brief description of the deal in word format
Austin Rutherford Oh, I see. Thank you! :)
This was gold, you’re a hero for this stuff. I have a private money lender ready and forming a business for flipping. Did you do LLC or s corp?
Nice!! And I did an LLC taxed as an s corp
@@AustinRutherford thanks brotha, love ur videos. 😎🏠
1. Thank you!!!
2. Question: Are there fees associated with someone taking money from the self directed IRA? (New to this page, can you/have you walked through what that looks like?)
depends... not really... most self directed custodians charge yearly fees and wire fees. So maybe like $50 for a wire
Makes sense! But what are the cons to this? Let's say you borrow 100k what if the property doesn't sell or sells below £100k then you would be in £100k debt.
Hi,
Thanks for sharing this video. I have a question, can I borrow money from a private lender for a seller finance deal? They’re requesting 30k as downpayment, however, the house doesn’t have equity.
Can I do a promissory note anyways although the house doesn’t have equity? Can I back his loan against the house?
I read I could use them a equity partners but I don’t really want them as equity partners. I would like them to be my private money lenders. By the way this is a buy and hold rental. They are ok with no getting pay now. It’s a balloon payment in 7 years they said they are ok by me paying them in 7 years they just want the interest to be paid. Can you help me please? Thanks
I can help on stuff like this! I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
What platforms/tools do you use to keep all this organized?
How do you calculate rehab costs what if the house don’t sell?
Thanks for the video! I am still hesitant to jump in but this knowledge helps a ton.
Also whats a good % to pay back to one person/ a bridging loan company?
Would "lending tree" be a good place to get these loans? It seem it would be easier than going around looking for people. Being that it has people fighting to lend you money, with that you could pay less in interest and end up making more money on any given job. I don't really know, I'm only 15, just trynna get a head start on life.
(I was wondering if you would make a video to answer my question.)
Thank you for all the knowledge you have given to us all!
If you go to lending tree you will find conventional lenders. Conventional lender aren't going to lend on a property that needs significant repairs like most flippers like to buy. Cheap homes that need work. Your not going to get a loan from a convention lender not to mention it takes 21 to 30 days to close conventional loans. They have to check your credit income job history debt to income ratios etc. Hard money you don't have to go through that. To buy these homes to flip they don't give you 30 days to get a loan. Someone else is going to buy that house by then. So you need some if your own money and a hard money loan that get you the cash in a week. You're gonna need a chunk of change of your own money tho. You have 30% of the purchase price and the hard money investor gives you the other 70%. The hard money investor cares more about the house flip project complexity, your ability to get the work done and your bank statements showing you've your money.
What lender do you use?
I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
Thanks for the video. I came up on this video from one of your comments on TikTok. This step is nerve wrecking especially since it is other people's money. I'm in Illinois and this hurdle is the only one blocking my wife and I from potential wealth independence. I have no prior history so It's tough to speak on history and give the lender ease of mind. what about lenders who lend to first time flippers? what's the best way to approach that scenario/conversation? I have confidence about making something happen when it comes to investing in R.E, just need to get over that first step.
life changing for sure!
Thank you for the information
I just found a condo with 100k equity in it but its been on the market 835 days. Do you think a deal could be done with this?
Thanks very informative
Should a person find people that are interested fbefore a deal is found so that you don't have to scramble after you have get a contract?
I would do both. Look for both deals and lenders at the same time!
I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect with PMLs and HMLs. Let me know if I can help on your next deal!
Nice
Austin, are you willing to share your contact list of private money lenders?
1St tool is know how to speak
2nd found a good deal...
Great video! Would you be able to give an example of what a contract between you and a private money lender would look like? I have the contractor in place who's willing to recoup his money after I sell the house on the open market, I got the cash in place from a private lender who's never lend money before so he is new, and I wholesale so I come across deals all the time. I just want to have all my ducks in a row and wondering if I need to prepare for terms/contract early on.
I also would like to know what type of contract or language should be included to protect both parties
@@ctbaze28 Did you guys find the answer to this?
Do you have a securities attorney and what system you use to take your private partner funds?
Nope. I just use a note and mortgage per deal
Team playa Comin soon
What do you mean by "double digit returns"
It’s means he’s paying the lender back in interests that are 10% or over
How did u give back 240,000 on ur first deal?
🔥🔥🔥
good video.informational💯👆🙏
💪💪💪💪💪💪
!!!!
i would never give a 21 year old a quarter mil of my money lmao crazy
🤣🤣🤣ok....
💪🏽