Starting a hard money business can be both exciting and terrifying at the same time. A good strategy to increase your chances of success is to study already successful hard money businesses.
In today's video, I'll share 10 mistakes I made when starting my own hard money lending business.
These can help people who are on the fence about dipping their toes into the hard money or private money lending business.
00:00 10 Mistakes 01:00 Not getting started 02:13 Networking 03:30 Texting vs phone call 05:06 Taking it personally 06:31 Lose underwriting 08:12 Assuming a good deal 09:53 Raising more capital 11:37 Letting investors underwrite 13:30 No Systems 14:57 Lacking Mentors
About Rodney Miller: Rodney started his career in real estate investing in 2003. Since that time he’s been a principal in over 300 real estate investment transactions. Rodney started casually loaning money to other investors around 2005. In 2020 Rodney decided to go all in on private lending and started Hard Money Partner LLC. He currently has about $4mm in loans with about 10 hours a week of time invested in the private lending business. Rodney has been married for 23 years and has 3 awesome kids and 3 dogs. Rodney lives and operates HMP out of his office in Oklahoma City. HMP’s service area is Oklahoma, and north Texas, more specifically, the Dallas/Ft Worth Metroplex.
Borrower Resources:
Apply for a loan
Guaranteed loan report
How to flip a house report
Investor Resources:
How to invest with Hard Money Partner
A Beginners Guide to Private Lending- By Rodney Miller
Rodney is available for consultation on all things hard money lending, whether it be borrowing, Investing, or starting a lending business.
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Video hashtags: #hardmoneypatner #hardmoneylending #hardmoneybusiness
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By: Hard Money Partner Title: 10 Mistakes I Made Starting A Hard Money Lending Business Sourced From: www.youtube.com/watch?v=sot7VlkUU20
