In this podcast episode, we interview Jay Conner, President of The Private Money Authority. He shared some valuable tips for private lenders and real estate investors:
👉Always have a conservative loan-to-value ratio. This means not borrowing more than 75% of the after-repaired value on a single-family house. For example, if the after-repaired value is $200,000, don't borrow more than $150,000. This protects private lenders and investors by providing a $50,000 cushion between the property value and the borrowed amount.
👉When doing one-off deals (as opposed to syndications), always give private lenders a deed of trust or mortgage to protect their investment. Also, name them as the mortgagee on the insurance policy and as an additional insured on the title policy.
👉Look for conservative operators who rely on math, not emotions, to make decisions. They should know the maximum amount they should pay for a property and have experience in the field.
These tips can help private lenders and real estate investors mitigate risks and protect their investments.
🌐Come and visit Jay’s website: jayconner.com/moneyguide to download his new book on “Seven Reasons Why Private Money will Skyrocket Your Real Estate Business and Help you Build Incredible Wealth” absolutely for FREE!
📌Chapters:
04:00 - A Quick Guest Background: Who is Jay Conner?
05:47 - Comeback is REAL!
10:02 - Perspective in Uncertain Times
12:00 - 3 Tips to Protect Private Lenders
19:08 - Due Diligence Piece: The Operator
22:30 - The Volume Game: Finding the Right Deals
27:41 - Jay's Tips for Real Estate Investors
29:10 - Ending the Show with a Little Bit of Gratitude
30:30 - Thanks For Listening to the Limited Partner Podcast!
If you're interested in raising private money for real estate, then this is the video for you. Jay will teach you the basics of private money lending and help you understand the process of raising money for real estate. You'll learn about the different types of private money lenders and the benefits of using private money for real estate investments. After watching this video, you'll be ready to start your real estate investing journey!
