All Forum Posts by: Chris James Hariski

Hello collective brain,

                    I have recently had a number of private money lenders reach out to me. This would be the first private money lender I have that is not an actual investment entity. What should I bring to the meeting, what should I look out for. What kind of documentation should I bring as well. Any advice will help greatly.

Hello Kyle,

     Well done picking what you want so early in your life. I did a similar thing but I jumped into being a real estate agent (realtor). There are many different ways to start out and by all means do not look at your student debt as holding you back. Some creative tricks are easily accessible to you. I found that talking about my passion for Multi-family rentals has opened so many doors for me. Basically I work a full time job and invest as well. Every conversation I have I let people know what I do. It took me about  months before my passion and open conversations brought me investors. These are people I met and built a relationship with that one day came to me and asked if they could give me their money to get into the investing I do with Multi-family homes. This is just one example of what you can do. @Brandon Turner has a book that is really helpful as well. The title is crazy long but I think it is something like "real estate investing with low and no money down" I read this book during my first month of knowledge acquisition and it really opened my creative eyes on how I could invest without my own debts holding me back. I hope this helps feel free to reach out if you would like to discuss more options.

Hello Jason,

   The calculators are pretty difficult to explain via writing my best suggestion is to attend the free webinar @Brandon Turner hosts. He does a really good job at explaining them and how to use them even walks you through it. They are free webinars and are done weekly. Then you can become a pro member and use them over and over. The rental property calculator has come in handy for me on more than one occasion.

Thank you Peter, I have been doing most of that for a year now. What I am taking away from this is that I need to find new people to network with and grow my relationships. I greatly appreciate your time to respond and give me your views. I love receiving as much education and helpful tips as I possibly can. 

I have no family with investment money and have been entering some REI groups with little success with finding private lenders. I have zero experience with dealing with private lenders so I may be missing opportunities. What sort of questions and repayment documentation or ideas should I be focusing on. Essentially how do I set up a repayment plan with a % gain for the private lender.

There are a few areas near me that have had a large amount of government attention in cleaning them up and establishing better neighbourhoods. Vanier is a great opportunity area currently if you get on the correct side of that area. It is close to Downtown but far enough away to have a significant price difference. 

I am using Other peoples money, non traditional lenders. I was told they need to be put on the title or be given shares in my company. It was very confusing for me as well.

@Cameron Andrews I just finished shopping around and found that Square1 has given me the lowest rates while still offering the coverage I need. It is an online company, I am not sure if that will help you or not but it has saved me a lot YoY.

Where about in Ontario I know a few good ones in the Ottawa area.

I have begun to look for investors and using OPM to buy more real estate. I have heard that I would need to either put the investors name on the title of the property of distribute shares? Any thought on how I go about doing this?