645: Seeing Greene: Will Borrowing Money from Family Ruin Your Real Estate Deal?
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 7 August 2022
⏱️ 42 minutes
🧾️ Download transcript
Summary
Should you borrow money from your family? It could hurt your relationship if the deal goes wrong, but strengthen an existing partnership if everything goes right. Maybe a better question—how should you start raising private capital for your real estate deals? When it comes to the debt vs. equity debate, which makes more sense in your situation? Don’t worry, we’re bringing answers to all these questions and more!
Welcome back to another episode of Seeing Greene, where your host David Greene answers questions from both aspiring and established real estate investors. We’re also joined by Alex Breshears and Beth Johnson, two expert private money lenders and authors of the newest BiggerPockets book, Lend to Live. They help tag-team some private money-specific questions as well as give context on who you should and shouldn’t accept funding from.
Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!
In This Episode We Cover:
How to use real estate depreciation to offset income from a W2
Sell, refi, rent, or hold—which is the best move as the market gets shaky?
Whether building a purely passive real estate portfolio is possible or improbable
How to pay back private money and whether taking debt vs. equity partners is the best move
Borrowing money from family and how it could hurt your real estate deals and relationships
Why understanding a lender’s pain points is mandatory before accepting money from them
And So Much More!
Links from the Show
Get Your Ticket for BPCon 2022
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
BiggerPockets Podcast 636 with Amy Mahjoory (Part 1)
BiggerPockets Podcast 637 with Amy Mahjoory (Part 2)
Scott Trench’s 10-Step Checklist to Buy Your First Rental Property
Books Mentioned in the Show
Lend to Live by Beth Johnson and Alex Breshears
The Win-Win Wealth Strategy by Tom Wheelwright
Set for Life by Scott Trench
Connect with Beth & Alex:
Alex and Beth Email on Lend2Live
Beth's Email on Flynn Family Lending
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-645
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Transcript
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| 0:00.0 | This is the bigger pocket's podcast, show 6.45. |
| 0:04.3 | The way I've always approached life or any goal that I have is that there's going to be |
| 0:08.2 | something about me that has to change to be successful in whatever I want. |
| 0:12.3 | So if for instance I want a better body, I'm going to have to change my eating habits |
| 0:16.4 | and my workout habits. I mean I have to go to the gym and develop different muscles or stronger muscles |
| 0:21.6 | to get what I'm looking for. If you're looking to save money in taxes, you can use some strategies |
| 0:27.5 | that work with your current W2 situation. But it is much harder. It would be much easier for you |
| 0:32.8 | if you found ways to make income that were not beholden to the W2 world. What's going on everyone |
| 0:38.1 | this is David Green your host of the bigger pocket's real estate podcast here today with a seeing, |
| 0:43.0 | green edition of the podcast on these episodes. We take questions from you, our fan base and those |
| 0:49.7 | that we are trying to help grow wealth and I answer them in person myself giving the best advice |
| 0:55.9 | that I possibly can. And then we let everybody else hear how the information was disseminated, |
| 1:01.0 | what my advice was and most importantly what I was thinking when I gave it. The goal with this is |
| 1:05.6 | to help you overcome the obstacles that you're facing in your investing career, give you information |
| 1:10.0 | to better equip you to build wealth and make a connection with you because I love you guys and |
| 1:15.0 | I know you love bigger pockets. So we're happy to join in today's show we get into some really |
| 1:19.6 | cool stuff. One of the things is we bring in some private lenders and you get a special treat. |
| 1:23.6 | You're going to get private lending advice from people who wrote the book on private lending for |
| 1:27.9 | bigger pockets. So you're definitely going to enjoy that. I also talk about how to get out of the |
| 1:32.0 | fear box when you're scared and every step that you want to take in a different direction gives |
| 1:36.3 | you something else to be scared about and it bounces you back to right where you started. |
| 1:40.2 | And then we get into when to sell, when to hold, when to bail and when to fold. So one of our |
... |
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