Episode 35: [Funding] Finding Private Lenders For Your Flips w/Jason Bible

Danny Johnson / 2 comments

Show Notes

Jason has been on the show now 3 times! It’s because he’s awesome and doing great things in his real estate investing business in Houston.

We have in on the show today to talk about finding and working with private lenders for your house flips.
Now, if you’re new to real estate investing, you probably want to start with working with a partner to fund the deal and split the profits or use hard money until you have a proven track record of several successful flips. This will make it easier to build relationships with private lenders.

In this episode we talk about:

  • What a private lender is
  • How they are different than hard money lenders
  • What criteria Jason uses to determine good lenders from ones he’d rather not work with
  • How to find these lenders during networking events

Jason really focuses on the “working” part of networking events. I think most investors in general just don’t fully appreciate the power of these events if worked properly.

When negotiating with lenders on terms, Jason likes to frame the argument by showing how he uses the lenders that give the best terms first and then moves up to more expensive ones afters he’s used all of the cheaper one’s money. So, they can ask for higher rates, but they won’t get their money out until the cheaper ones have theirs out first.

Jason also talks about his vanilla and chocolate options he gives private lenders. You’ll need to listen to the episode for that one though. 🙂

I have a guide that you use to find out exactly how to find private lenders and what to do to approach them. You can download that here:

Private lenders will typically lend at anywhere from 0 to 2 points and 8 to 12% interest. You can typically get 12 month terms and interest only or no monthly payments.

What to be careful of….
You have to be careful to only borrow from one lender for each deal. Do not pool funds from multiple people as that gets into securities and must conform to all of the laws regarding securities.

Also never market specific deals with numbers to private lenders. Find out more about this in the free download for this episode below.

Links

Hear more of my story and what I am doing these days by listening to the recording I did with Jason for his radio show:

Episode of Jason’s Radio Show Where He Interviews Me

Please Rate and Review

This is my simple request: If you enjoy the podcast and look forward to hearing a lot more episodes, I would be very grateful, happy, beholden and otherwise indebted to you to rate and review the podcast on iTunes.

It’s your choice and I do not want you to feel at all obligated. But I’d love it if you would subscribe and leave a rating and review.

Ratings and reviews allow the podcast to be seen by more people, which will help me achieve my goal of helping as many others as we can to get started in the house flipping business and change their lives.

Click here to rate and review our podcast! 🙂

Not sure how to leave a rating and review? Click here to view the instructions (it only takes 2 minutes)

How to Subscribe to the Podcast

There will be a brand new episode every single week, so be sure to subscribe and receive each episode as it’s released.

subscribe
iTunes Subscribe on iTunes Stitcher Subscribe on Stitcher

Leave a Reply

Your email address will not be published. Required fields are marked *

2 awesome responses to “Episode 35: [Funding] Finding Private Lenders For Your Flips w/Jason Bible”

  1. Mike Newby on

    Danny, in this episode you mention a PDF outlining how to find and use private lenders in your business; however, I’m not finding the link you stated would be in show notes to download the document. Is it somewhere else? Can you email it to me? Thank you! A great episode with Jason Bible, again!