All Forum Posts by: Jonathan Warner

Hello. I'm looking to connect with other private lenders in the Tuscaloosa, Al, Birmingham, Al, or Huntsville, Al areas. 

Send me a DM and let's discuss the local market!

,West

 Hey Chris, great to see you offering me advice once again, its greatly appreciated. 

I joined Beth's FB group. It's great.

I can only assume the guy asking for 100% financing is doing a little trolling haha. 

 This is great, thank you. So basically, get an attorney to put my contracts together as the first step, reviewing them with a title agency as the second step, putting the other team members together as the third step, and starting the search for borrowers as the fourth? Or do you mean for me to approach the borrowers first? 

 Hi Mike,

I've read it and it's great. I'm just a bit confused as where exactly to start. I guess that is implied in the chronological order of the book, but I dont see a 1-2-3 step-by-step process. Someone advised me to start with an attorney so I suppose that is my jumping off point. 

I've done a bit of research on the private lending space and I'm coming to the conclusion that it is the way I would like to enter the real estate space. I have significant enough assets and capital that I can make a few loans while still maintaining a healthy stock portfolio to keep my money working for me. 

I'm curious if you guys have any tips for me as a beginner. How do I get the ball rolling? 

Do I begin by getting a solid contract? 

Do I contact appraisers and local title insurance agencies to begin to find one that I could use? 

Or do I start by just getting my name out there and then get those pieces in place once I find a borrower? I'm assuming I should be somewhat prepared before doing this, as I don't want to come across as a "not serious" waste of time to any agents or borrowers.

Since I only want to lend locally, how do I get my name out there to start my search for borrowers?

Any advice would be greatly appreciated.

Thanks,

West

 Hey John,

I've finished Millionare real Estate Investor and Slight Edge

I thourougly enjoyed Millionare Real Estate Investor. I like the practicality of it because a lot of what I've read hasn't really gotten into the weeds of how to structure deals or network properly. However, I noticed it was written in 2005 and I can definitely see tones of "real estate mania" that got brought back to earth in 2008 aha. Specifically, the idea that just buying it right is enough to make it work.

I enjoyed Slight Edge as well. It's a great framework I can apply to all areas of my life which I'm sure will all, directly and indirectly, come back to by future business ventures. I did feel like I was having the same nail hammered into my head at different angles for the first half. But by the end, I realized why he did it that way.  It's now one of my favorite books. It was a good nail!

Anyways, thanks again. I'm here for more reccomendations if you have them.

 Got it! Thanks. 

 Thanks, Steven. I’ll check it out and come back here to update you on my thoughts. 

 That’s what I was assuming. Almost 4 years is pretty amazing. The listing time seems like a big eye sore. I wonder why they haven’t unlisted it and relisted it to avoid that image.