Skip to content
Real Estate Events & Meetups

User Stats

1,827
Posts
693
Votes
Kim Tucker
Pro Member
  • Flipper/Rehabber
  • Kansas City, MO
693
Votes |
1,827
Posts

MAREI Meeting: Private Money Transactions - Kansas City Metro

Kim Tucker
Pro Member
  • Flipper/Rehabber
  • Kansas City, MO
Posted Jul 23 2018, 15:15
This event is brought to you by:

6 Replies

  • 08/14/18 06:00PM - 09:00PM America/Chicago
  • Holiday Inn, 8787 Reeder Road Overland Park, Kansas 66214
  • $25.00

Disclaimer: BiggerPockets does not support or sponsor any meetups unless otherwise noted. Do your due diligence before attending any events. You may be agreeing to attend an event that includes promotion, pitching, or high-pressure sales tactics or techniques. Poster certifies that there will be no pitching of products or services at this event.

Report Event

Private Money Defined: Going by many different forms of private money, private lender, private partner, and more, private money is just that a funding source for real estate investment (or other investment) from a private individual that the borrower knows personally and that knows, likes and trusts the borrower and their investment enough to put their own money or credit into the transaction.

The Advantage of Going Private: Private Funding is so much easier than working with a traditional lender in that there is not typically a credit check or an appraisal process on the home so the transaction can close that much faster. And unlike working with a Hard Money Lender who wants points plus interest, a private money lender is typically cheaper, although they could cost more, depending on what the private parties negotiate. Some want interest, some want a flat fee, some want a part of the profits.
Why Would Someone Lend to You: Think about it, the average person has two places to park their money, in the bank earning virtually nothing or in the stock market that can be very volatile. If a real estate investor comes along that has a proven track record of real estate investment and can offer them a decent return that far beats the bank, but is less risky than the stock market.

What If I Don’t Have a Track Record: Most private money lenders and partners want to work with an investor who has completed a few deals, although some will lend to a brand new investor if the deal is sound. If you are brand new to real estate investing and have no track record of your own and have no experience at all in the industry, the next best place to find funding other than your own bank account is to work with the Institutional lenders at your local REIA group. Here at MAREI, we have numerous lenders who can help.

At the Tuesday, August 14th MAREI Meeting, we are inviting in a few of our own local experts such as

  • Investor Eric Granneman who has worked both sides of the private loan.
  • Investor, Dale Griffen, who has had to take back a few properties as a private lender
  • Investor Kim Tucker who has borrowed and lent privately.
  • Attorney Rick Davis who has been a part of numerous private transactions, joining us on how to keep everything legal.
  • And a few more members to share their experiences.

Join us Tuesday Night to learn more about:

  • How the average member who has borrowed privately found their lender.
  • What to look for in a good private lender and when you might want pass.
  • What the average member who lends privately looks for in a borrower.
  • What paperwork you must have and what additional paperwork might you want.
  • Why you always want to fund a transaction through a title company.
  • What instruction to provide your escrow closer as the lender.
  • Why you always want to record your loan and get original copies.
  • Why it’s not the end of the world if the deal goes south, yes sometimes a private lender has to foreclose.
Special Bonus: For everyone who pre-registers and attends the August meeting, we will be providing a digital copy of How to Get All the Money You Need to Buy Property by Alan Cowgill

This meeting is Free for all Investor & Business Members that Pre-Register Below. First Time Guests can also pre-register for their first meeting at no costs. Our Internet Members and all other non-members can pre-register below for $15 or pay $25 at the door. We encourage everyone to pre-register below.

Click Here to learn more and to Register to Attend

Loading replies...