Oct 9, 2017
Hard money lending from all angles with Wendy Sweet. In this episode of the Investor Army Podcast we cover a large number of topics related to private money lending, hard money lending, and starting a fund for real estate investors. We go over hard money lending with Wendy Sweet from Carolina Hard Money from the position of the lender and the borrower and what it is like to be in either position. Everyone needs to raise private money or use hard money for their real estate deals. And that is exactly what we talk about today and how to do it correctly and what you need to know about the hard money lending process.
Wendy Sweet – wendy@carolinahardmoney.com
Carolina Hard Money – www.carolinahardmoney.com
Show Notes:
00:00 – 02:45 Introduction
02:45 – 10:06 Carolina Hard Money and Wendy’s background in mortgage industry
10:06 – 13:44 Wendy’s transition in hard money lending business
13:44 – 19:33 Hard money loan process
- Points up front
- Points on a back
- Interest rates
19:33 – 25:27 Draw process
25:27 – 31:15 How Wendy can help you with building your passive income?
31:15 – 32:27 Paper work
- Have a local attorney
32:27 – 35:51 Your local real estate investor association is the cheapest and deepest education you will ever get!
35:51 – 39:40 Funds vs. hard money loans
39:40 – 44:05 What can you expect when you are looking to put your money into a fund?
44:05 – 44:47 Investing out of 401K and IRA
44:47 – 47:20 Last piece of advice from Wendy
47:20 – 49:46 Contact information