Becoming a hard money lender as the first step in real estate

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Becoming a hard money lender as the first step in real estate

Andrey Podymaev
Member since 2019 · 3 posts · 0 votes

Hello guys! I'm planning to immigrate to the USA next year, and I'm all in on the idea of the real estate business. 18 years ago, I read Robert Kiyosaki's book about the whole idea and throughout the years I've been thinking that all this stuff works the best in the USA.

I've read BRRRR and a couple of other books. I've been listening to the BP podcast, and now I've joined the forum.

I'm planning to get a real estate agent license once I arrive. Now, I'm in the middle of an online course for getting that license. I'm doing it to get some experience and access to MLS. I'm planning to invest my own funds, which I've accumulated over the last 10 years thanks to my import and trading company.

Upon arrival, I would like to try BRRRR, build a team, and so on. But before that - is there any safe way to start a business related to real estate by being a hard money lender? Currently, I live in Cyprus and I'll be here for at least half a year more. I have an LLC registered in Delaware since 2019.

Providing loans secured by real estate is the only thing that pops up in my mind, taking into account the fact that I can't be in the USA in the near future.

If there is a way, how would you suggest looking for rehabbers and flippers?

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y
    Quote from @Andrey Podymaev:

    I'm not sure how much money you have, but you could certainly start by becoming a lender. There's a new book in the BP bookstore that spells out every step in excruciating detail with checklists and everything.

    You'll have a hard time starting in real estate because there are a TON of new agents that jumped in when the market went crazy. Lots of competition, even more than usual, and it can take a couple years to build a decent business.

    You can also consider finding owner-financed properties. That removes the lender and you won't be required to have a job.

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  • Andrey Podymaev
    OP
    Member since 2019 · 3 posts · 0 votes
    4y
    Quote from @Nathan Gesner:

     Nathan, thank your for you response. 

    Beeing abroad I'm ready to start from $500k-1m. Once I move to the USA and have clear picture what and how to do, I can invest several times more.

    I'll check that book and will read it, thanks. 

    I was thinking about becoming as an agent not for earning money, but just getting the access to MLS and acquiring some real-estate experience.

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