Legalwiz – William Bronchick – Hard Money Lending Advanced eCourse
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New Online eCourse by Attorney Bill Bronchick!
From the desk of …
Re: How to become a Hard Money Lender!
Dear Disgruntled Investor,
If you have cash, a line of credit, a 401k or IRA, or access to large amounts of cash, you could be making SUBSTANTIAL passive returns by lending money to other real estate investors at high rates of interest – and they’ll thank you for it! Hi, I’m Bill Bronchick, and I am a best selling author, attorney, and real estate investor, and founder of the Colorado Association of Real Estate Investors. I have been interviewed by CNBC, Bloomberg News, TIME Magazine, SIRUS XM Radio, the Wall Street Journal, Investors Business Daily, Money Magazine, and dozens of other prestigious publications. I am one of the few “gurus” who actually practices what he preaches by actively investing in real estate. I’ve also done, supervised, and assisted others in doing profitable, low-risk hard money loans that were “win-win-win” for all parties involved.
CDs, Banks, and Mutual Funds Won’t Make You Rich!
If you are trying to save or invest in the market to generate a prosperous retirement fund, GET REAL. You can’t mathematically get to your goals with rates of 5% or less when inflation is 5% or more (assuming, like me, you believe the government is LYING about the REAL inflation rate – it’s not 2%!). You need to get double digit returns to get any velocity on your money, and I can show you how to do that – without significant risk, and without fixing houses or dealing with tenants and toilets.
Create an Instant College Fund for Your Kids or Grandkids
If you have money in your IRA or 401k (or sitting in the bank or a lame mutual fund or annuity), you could be earning a MUCH better rate of return. In fact, if you have young kids or grandkids, you could make enough from hard money lending to put them all through college with the rates of interest you’ll earn, and still have enough left over for your retirement! Forgot borrowing from the government, let your money work for YOU and pay for your family’s education at top colleges and universities.
Hard Money Lending 101
Hard money lending works like this: An investor has a property under contract and needs money fast. He cannot or doesn’t have time to get a loan from a local bank or mortgage company. He wants short term money quickly and easily, and he doesn’t care what it costs, so long as he can GET IT DONE. You have a pile of cash or access to a pile of cash, so you make him a loan, secured by a mortgage on the property at closing. Within six months or less, you get paid back, with 12% or more interest AND several origination points. The investor makes a profits, you make a big, fat rate of return, and everyone’s happy!
Of course, there’s the obvious lingering issue… what if the borrower doesn’t pay? Do I have to sue him? Foreclose him? Will I lose money? Is this complicated and will cost me thousands in lawyer fees?
These are all good questions, and I will answer them to your satisfaction at my brand new Hard Money Lending eCourse.
My HARD MONEY LENDING eCOURSE will show that you can profit in spite of the current state of the economy.
- How to market to build up a list of regular, good borrowing customers
- 9 things to look at when qualifying potential borrowers to make sure they pay
- How to make sure the deal you are lending on makes sense
- Choosing the types of properties to lend (and not lend) against
- How to verify the exact value of the collateral
- A checklist of items you need to verify before lending a DIME!
- All the paperwork you need to cover yourself and limit your risk
- How to negotiate terms of your loans (remember, YOU are in the driver’s seat!)
- Commercial lending rules and regulations you have to comply with
- Using your IRA or 401k to lend money and earn interest TAX-FREE!
- Doing second lien loans for even HIGHER rates of return without losing your shirt
- Cross-collateralization and other neat tricks
- 7 ways to raise capital for hard money lending NOW
- How to use OTHER people’s money to lend out to others
- Find out what don’t know that you don’t know about hard money lending
- 9 ways to keep your risk of default to a minimum
So, How Much is this Going to Cost Me?
Normally, I charge a lender client between $1,000 and $1,500 to prepare loan documents for just ONE hard money loan. That doesn’t include doing due diligence on the borrower, the deal, or the property. And, in that scenario, they had to find the borrower, qualify the borrower and the deal, and do all the due diligence. In other words, they already have experience in the business. So, to show you not only how to do the business but also show you what’s needed at closing of a loan, I should charge even MORE than $1,500.00, and it would be a fair price compared to the money you’ll make on your FIRST DEAL! Also, keep in mind that if you DON’T get my course and try to “wing it”, you may lose TENS OF THOUSANDS of dollars by making an avoidable mistake.
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