396: 5 Real Estate Deals Using Other People’s Money w/Darnell Leslie

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 22 April 2024

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

You want to invest in real estate, but you don’t have the money. Are you out of luck? Good news—money is NOT a dealbreaker. There are several levers you can pull to get the capital you need, and today’s guest is going to share them with you! Welcome back to the Real Estate Rookie podcast! Shortly after being cut, former professional football player Darnell Leslie was determined to try his hand at real estate investing. There was only one problem: he needed money. But, after convincing some family members to partner with him, Darnell quickly realized that he could use other people’s money to fund ALL of his real estate deals. He started building his network and found private money and hard money lenders, using a polished private capital “pitch” to bring them on board. Over the last few years, he has completed five deals using very little of his own money! Is money the ONE thing stopping you from buying real estate? In this episode, you’ll learn everything you need to know to start using other people’s money instead. From structuring private money and hard money agreements to buying materials for your renovation projects, Darnell walks you through each step! In This Episode We Cover: How Darnell uses other people’s money to fund his real estate deals How to start raising private money today (tips for new investors!) Why you MUST have multiple exit strategies when buying property The private capital “pitch” to help you raise funds for your next investment How to structure your private money and hard money agreements The interest-free way to buy materials for your rehab projects And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Get Tips, Advice, & Support in the BiggerPockets Forums Rookie Podcast 275 - From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!) BiggerPockets Podcast 334 - Using Other People’s Money to Fund Flips, Multifamily, & Self-Storage Deals With Ben Lapidus Book Mentioned in the Show Rich Dad Poor Dad by Robert Kiyosaki Raising Private Capital by Matt Faircloth Connect with Darnell: Darnell's BiggerPockets Profile Darnell's Facebook Darnell's Instagram Darnell's LinkedIn (00:00) Intro (01:23) Football Player to Investor (09:26) The Private Capital “Pitch” (17:39) Structuring an Agreement (23:44) Using OPM & Choosing a Strategy (31:59) How to Find & Analyze Deals (40:46) Funding Rehab Projects (50:04) Connect with Darnell! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-396 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie episode 396.
0:05.0	Are you unsure how to structure a private or hard money deal?
0:10.0	Today we'll get into what is working using other people's money.
0:15.0	O. PM. My name is Ashley Kerr and I am here with Tony J Robinson.
0:21.0	And welcome to the Real Estate Rookie Podcast where every week, three times a week,
0:25.1	we bring you the inspiration, motivation, and stories you need to hear to kick out your
0:29.0	investing journey. And today's guess is buying properties all cash,
0:33.1	building his portfolio using other people's money,
0:36.2	the holy grail of real estate investing.
0:38.0	He's making flips more affordable for his area
0:40.7	to ensure they actually sail on the back end and we'll learn how consistency is key to staying
0:46.5	actionable and we will hear how he's doing this himself. So Darnell, welcome to the Real Estate
0:51.6	rookie podcast. What's going on?
0:53.2	I'm so hyped to be here for you guys.
0:55.2	First off, I want to give you guys your flowers.
0:57.3	I started off watching bigger pockets maybe three or four years ago,
1:00.9	and I honestly pivoted from watching the actual show to watching the Ricky
1:04.4	podcast when you guys launched this fight after COVID and you guys have extremely
1:08.1	helped me just propel my business so shout out to you too and I appreciate you guys having
1:12.1	me.
1:12.6	Well, we are so excited to have you here, you know, a full circle moment.
1:16.9	You start out listening to the podcast and now you are here to share your experience and
	...

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