Private Money Lending (Don’t Get Scammed!)

Disruptors

Steve Trang

Business, Investing, Careers

5 • 741 Ratings

🗓️ 19 August 2021

⏱️ 78 minutes

🔗️ Recording | iTunes | RSS

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Summary

Finding private money is a key for building your wholesale, fix and flip, or buy and hold business. Blake Selby explains how to avoid bad lending deals, identify brokers vs. direct lenders, the pro’s and con’s of private lending, and how to become a private lender and not get scammed with private money lending. Share this with someone who would value this information.

Video replay of my interview with Blake Selby on Private Money Lending, the Pro’s & Con’s, and how you Don’t Get Scammed:

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More about Blake Selby and private money lending (don’t get scammed):

https://www.SelbyRentals.com

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Show Notes

Takeaways on Private Money Lending (Don’t Get Scammed):

1. Focus on one aspect of your business. You can always expand to others, but have your core focus.

2. If anyone demands money up front to get a loan, they’re scamming you.

3. You can be a private money lender.

4. Trust your gut. If you feel like there’s something wrong with a deal, walk away. There’s always another one.

#wholesalinghouses #wholesalingrealestate #wholesalerealestate

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Real Estate Resources:

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Transcript

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0:00.0	Hey everybody, thank you for joining us for today's episode of Real Estate Disruptors.
0:03.5	Today we've got Blake Selby with Selby Enterprises.
0:06.6	He flew in from Davenport, Iowa to talk about how he built a 300 plus unit portfolio and turned that into $2 million liquid.
0:13.3	And the lessons he learned along the way to avoid getting scammed when you're lending.
0:17.8	If this is your first time tuning in, I'm Steve Trang, sales trainer,
0:21.1	for some of the top wholesalers in the country, and I'm a mission to create 100 millionaires.
0:25.9	The question I get all the time is how to become one of the 100 millionaires. The information
0:29.7	on this podcast alone is enough for you to become a millionaire in the next five to seven years.
0:34.0	If you will take consistent action, you will become one. If you want to get there faster,
0:38.5	send me a DM on Instagram, and we'll see if we can help you. If you get value out of the show today,
0:43.4	please tag your friend below. Share this episode right now. That way we can all grow together. And this is a live
0:48.6	show, so please ask your questions for Blake to answer. You ready? I'm ready. Let's do it. All right. So first question is,
0:54.7	what got you into real estate? Yeah, so short answer is I just didn't see another path. And so
1:01.2	I think it's always been in my blood. My great-grandfather owned Chevrolet dealership. My grandfather
1:06.5	was the head real estate buyer from Ford Motor Company, all of it. And then my father was in business as well.
1:12.8	So it's just kind of always been in my blood.
1:15.2	I knew I needed to do something like that.
1:17.2	The head buyer for Ford Motor Company.
1:19.5	Yep, global real estate buyer.
1:21.0	Global, not even national.
1:22.1	Yep.
1:22.5	Global.
	...

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