Flipping America 412, Get a Hard Money Loan
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Real estate investing takes two or three things to work well. The first thing is a value-add property. The next is your ingenuity and effort. The third thing is usually the money to do the deal. That seems to be the hardest part, but if you have the right kind of deal, it can be very easy to get. They call it hard money but not because the loan is hard. It\\u2019s because the loan is made using the hard asset as collateral. The loan depends primarily on the current and future value of the property. And the loan is often made not based on creditworthiness of the borrower but by the confidence the lender has in the borrower to get that property into a condition that would bring the future value.\\xa0
You\\u2019ll hear all about it today with our friends from Bay Mountain Capital, Will Dyer and Wayne Corley. That\\u2019s coming up in just a few minutes.\\xa0
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Announcements:
- The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.\\xa0\\xa0
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- FlipCalcs allows you to enter one data set about a property and consider up to six deal possibilities .\\xa0
- \\u201cReal Estate Investing Quick Start\\u201d Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.
News:\\xa0
- This is good advice for most homebuyers. https://www.cnbc.com/2020/09/10/always-use-the-30-30-3-rule-before-buying-a-home-during-pandemic-says-finance-real-estate-expert.html
Motivational Quote:
I have yet to be persuaded by anyone yelling at me and calling me names. Talk it out, America. -Roger Blankenship
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