Using Private Money and Creative Finance to Kickstart Your Real Estate Journey
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 17 July 2024
⏱️ 14 minutes
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Summary
Ready to dive into real estate? Learn how leveraging private money and creative finance can help you kickstart your real estate journey, offering flexibility and opportunities for growth.
Learn how to invest in real estate with the Cashflow 2.0 System! Your business in a box with 1:1 coaching, motivated seller leads, & softwares. https://www.wealthyinvestor.com/
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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Transcript
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| 0:00.0 | Let's talk about another way to buy properties with no money, and that is by getting private money. |
| 0:05.1 | Now private money is simply just friends and family who have money, |
| 0:09.8 | and you're figuring out how to structure a deal with them |
| 0:13.0 | so that they give you the money. |
| 0:15.0 | So there's a lot of ways to do this. |
| 0:16.8 | Now, let's just say back to the wholesale example, |
| 0:19.7 | you go find a deal for $300,000. |
| 0:22.2 | And you know you're gonna flip it and it's gonna sell for over $300,000 and you know you're going to flip it and it's going to sell for over |
| 0:24.0 | 400,000. Okay? Well if you don't have $300,000 cash plus the rehab plus the closing costs, then what do you do? |
| 0:30.3 | Well, you got to go raise private money. Now there's a few ways to raise |
| 0:33.3 | private money. All right? First way is to do just interest only. Okay? So I might go to a |
| 0:40.4 | lender who has $300,000 and I'll say, hey, you know, I'll pay you 12% interest on your money. |
| 0:48.0 | Okay, 12% interest for however long your money is out. Now what I always do is I try to get all the money |
| 0:55.4 | so I don't have to put any out of my own pocket |
| 0:57.9 | and I try to get the interest deferred, |
| 0:59.9 | meaning I pay the interest once we sell the property. |
| 1:03.4 | So in this case, 12% interest |
| 1:06.4 | would essentially break down to, |
| 1:08.4 | you know, if you're doing it over 12 months, |
| 1:10.6 | it equals 1% per month. |
| 1:13.8 | And so if I'm borrowing $300,000 from somebody, |
| 1:17.2 | okay? |
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