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After being hit with the financial crisis of 2007, Tom Berry needed to work on something to get him back on his feet. He went off buying properties and investing in real estate. What separates him from the rest who attempted to go the same path is that he and his team never used a penny of bank money to source for money. He is a seasoned investor, teacher, and the founder of Investor Loan Source which is one of his primary vehicles for assisting fellow investors. Tom shares his journey on how he built Investor Loan Source and provides great wisdom on private lending and how you can also do the same.
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Listen to the podcast here:

Tommy Berry Discusses How Investor Loan Source Was Funded Without Bank Money
I have a question for you. Are you an investor looking for funding for your next fix and flip or maybe your next rental? Or maybe even you’re owner finance or seller finance or looking for some funding that you can wrap to sell to your end client, to your buyer or tenant. If you’re an investor or a lender who is looking to passively invest in real estate while others do the work, then you’re in luck because Tom Berry will loan you money for your deals and/or he will put your money to work by lending it to mortgages backed by real estate. This is really geared for accredited investors. You and your spouse have to make $300,000 a year or you as a single person can make $200,000 a year or have a $1 million net worth that does not include your homestead. I’ve been waiting to get Tom on the show for a while. I’m very happy he agreed.
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I'm more than honored and pleased to introduce to you Mr. Tom Berry who is with Investor Loan Source and is the reason that I have this podcast is that I'm a private lender. Tom, welcome to the show. Thank you for joining me.

Thanks for having me. I appreciate it.

I met Tom at Quest IRA in Houston. He was looking for money. He has a great hero background story. How did you get into real estate? I know you came from a different background like most of us in real estate. Can you give us your background story?

My wife and I had a financial services firm. We moved from Ohio down to Texas about a year before the financial bubble burst. In 2007, we lost everything. We went from riding high in 2006 to nothing in 2007. We were part of a lot of people that were out there looking for work and trying to figure out what we were going to do next. I couldn't find a job. I put out resumes. I couldn't even get a phone call. I told my wife one day, “If nobody's going to offer me a job, I’m going to make one.” She's like, “What does that even mean?” I said, “If I don't have a job, I’ve got to do something. I’ve got to start some little business, a little company or something.” I’ve always wanted to do real estate and my other job and my other career never allowed the opportunity timing-wise. I guess the opportunity was given to me and it was a blessing in disguise. We didn't look at it as such at the time, but it allowed me to get into real estate. Like most people that are starting where we were financially, we started out wholesaling. Then we figured out how we can do a couple of fix and flips. We figured out, “We could keep some of these rentals.” We accumulated 425 doors, made over $100,000 a year every year including our first year in cash and were completely and totally financially independent and multimillionaires.

Just because you said you've got to do something and no one would hire you.

It pissed me off.

I guess necessity is the mother of invention.

I'm not a person to sit around on my hands and wait for somebody to come to give me something. If there's no opportunity out there, I'm going to go make one. That's what it was. I was angry not at anybody in particular. I was angry at my position and my situation at that point in...