October 21, 2025 • 40 mins
What separates a stuck investor from a scalable one? 💡
It’s not more hustle—it’s smarter capital. This week, we unpack the four funding buckets that fuel every real estate business: HELOCs, private money, community banks, and hard money.
Corey walks through how to stack them for maximum flexibility, minimize risk, and stay competitive in any market. Plus, a real duplex case study that proves—buying right and borrowing smart beats perfect execution every time.
🔥 In This Episode:
💪 • The two levers that matter most: find deals + find money
🏗️ • Why ARV lending and structure can save thin projects
🏦 • How to unlock and guardrail a HELOC at low rates
👨👩👧👦 • Turning family equity into yield with fair spreads
🗣️ • Private money scripts that avoid the awkward ask
📈 • Proof-then-scale strategy for bigger private checks
🤝 • Building credibility through sharing and consistency
🏛️ • Community banks vs. big-box underwriting limits
📊 • Amortization trade-offs + credit union seasoning
💸 • Hard money for speed, reliability, and deal backups
🧱 • The four-bucket capital stack every investor needs
📩 Have a topic idea for our live Zoom series?
Email corey@ibuywi.com
or message us on Facebook.
🎧 Support the show:
⭐ Leave a review on Apple Podcasts (help us hit 60!)
📺 Subscribe + comment on YouTube to grow #TheWisconsinInvestor community.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_00 (00:39):
What's going on, everybody?
I'm your host, Corey Raymond,and you're listening or watching
the Wisconsin Investor Podcast.
So thanks for tuning in, guys.
Today, I believe when thisdrops, this will be about our
60th episode, which is prettycrazy to think about.
So for all of you guys who'vebeen tuning in, I really
appreciate you guys watching orlistening to the show.
(01:01):
Uh, it's been a lot of fungetting to interview a lot of
great people.
And uh, for those of you guysthat are reaching out with
feedback and giving me someinsights, man, it's been
awesome.
So thank you for that.
Keep keep bringing me some ofthat feedback and some of those
insights, and we'll keepbringing you guys great guests
and solo episodes and differenttopics that hopefully can help
you guys move the needle forwardand help you guys in your real
(01:22):
estate investing journey.
So, um, one thing I am going totalk about today, I usually do a
little sponsorship, as you guysknow, on every episode.
But today, uh, what I want totalk about is we're looking at
starting a little series.
Um, we did a few of these a fewyears ago where we would hop on,
I would hop on a Zoom uh likeonce once a month for a little
(01:43):
bit or once a quarter, somethinglike that.
And uh we've done some like askme anything type of episodes of
that or events of that.
We've done some specificteachings on things.
Um, and we're gonna we'relooking at, we're exploring
starting that up again.
But I want to get your guys'feedback.
So if you have some specificthings you would love to have me
on live uh on a Zoom, and youcan hop on with some other folks
(02:06):
and ask questions and and getsome real answers to some things
uh that are on your mind as itrelates to real estate, um, just
send me a message either onFacebook or you can email me
coreyc-o-re-y at ibywi.com.
And uh I would love to get yourfeedback on what would be the
most impactful for you out therelistening to this as you are
(02:28):
trying to grow your real estateempire.
So um, with that, one of thetopics that comes up a lot is
financing deals.
And so that's what I want totalk about today.
So for those of you guys thatare out there and you're you're
cranking deals left and right,you might tune this one out and
say that ah, nothing in here forme.
But I'd encourage you to hang onbecause um, you know, I what I
(02:50):
find fascinating is when I haveconversations with experienced
investors, sometimes they arestill using financing options
for certain deals that are stilla little bit perplexing.
And I think if they wouldrestructure some things a little
bit in their in their capitalstack and the way that they're
doing things, they they wouldprobably be able to be more
competitive on offers or be moreprofitable on the deals that
(03:10):
they are working.
So I'm not gonna go into everydetail today, guys, on every
type of financing option outthere.
So, you know, if your feedbackfor me today would be, oh Corey,
you didn't talk about this thingor that thing, like I get it,
right?
There's gonna be some things I'mnot gonna know about or or
probably be able to dive intotoday.
Um, but if you're out therelistening and I don't talk about
(03:31):
something in particular that'sbeen helpful for you financing
deals, um, please do let me knowthat because I'm always looking
for um different ways to tofinance deals for us or for our
for you out there on the buyer'slist.
So um one of the things we'lltalk about today, and you guys
hear me, you know, talk aboutthis all the time.
(03:52):
Uh the two most important thingsI think, as anybody's trying to
grow their real estateportfolio, there's two things
you could do that would reallybasically ensure your success.
Okay, you could mess up in otherways, but if you do these two
things, you will be successfulin real estate investing.
Number one, find good deals.
Okay, I think we have the bestsource of that at Wisconsin
(04:13):
Discount Properties.
I'm a little biased, okay?
But one great source.
And we've talked about how tofind deals on other episodes.
We'll probably do another soloepisode at some point just on
finding deals.
So finding deals and find money.
If you could find those twothings, and you the cheaper
money you can get, the betterterms you can get, all that, the
more competitive you can be onyour offers, uh, the more
(04:36):
options you're gonna have, themore deals you're gonna have,
and all that sort of stuff.
So those two things find deals,find money.
Just focus on those two things,and you will be super
successful.
Now, you're still gonna needproperty managers, for example,
if you're doing rentals, orcontractors if you're doing
flips, or somebody to run yourcontracts uh or your projects,
or whatever the case is,depending on your level and all
(04:56):
that sort of stuff.
So those things will come.
But if you just focus, like Isaid, finding deals, find money,
you can have the worstcontractor in the world.
And if you got a good deal andyou financed it correctly,
you're still gonna make money onit.
I'll share a quick example ofthat.
2018, I had an upper lowerduplex in Green Bay that I got
from one of our marketingpieces.
(05:17):
Came in, old guy in his 90s,tough to negotiate, tough to
hear.
And he was still self-managingthis thing.
And um we settled on, I offeredhim 50,000 for it.
The place needed one ofeverything, right?
Uh, I think we had a tenant init that was like literally
dealing drugs like while we wereoutside talking.
There were people coming up tothe door, and I'm pretty sure
(05:39):
that's what was going down.
Um, she had locks on the inside,um sorry, on the outside, so she
could lock her her kids in thehouse, which again, I don't know
what their situation is.
I'm not here to judge, butanyway, it was a very it was one
of those pit bulls you didn'teven have any kind of stereotype
you can think of.
Um, but we bought it at 50,000.
Now, at that time, that was thatwas a really good deal even
(06:02):
then.
Um it now, if you get somethinglike that today, it's even more
credible.
It was a three-bedroom eachunit, and we had to stick a
bunch of money into it.
Um, believe we financed that onewith commercial financing.
So at that time, rates wereprobably about where they are
now.
Um, and the the lender that wehad financed 80% of the after
(06:23):
repair value.
So that's something we'll getinto a little bit today.
And so what that meant isthey'll come in, they do an
appraisal on what is this thinggonna be once once it's fixed
up, and you give them your scopeof work.
So you tell them, hey, I'mplanning to do X, Y, Z to this
property, and then they give youa valuation on that.
Say, hey, once it's done, thisis what it's gonna be worth.
And then the lender will say,Great, we'll give you up to 80%
(06:43):
of that.
Okay.
Now, those loans used to be alot easier to get.
They're a little bit tougherthese days.
All right.
So uh we still have commerciallenders that are doing these
loans for us on our flipprojects and and burrs, uh, but
they're just more rare,especially if you're just trying
to start out.
And so we'll talk about someother financing options of how
do you get to that point in arelationship where you can get
(07:05):
some lenders to give you these80% ARV loans because think of
that.
If you have no money into thesethings, they're covering your
rehab and they're covering yourpurchase price, you can do a lot
of deals, right?
I mean, pretty much unlimiteduntil that bank tells you no.
So we did this deal, and I had acontractor that had done some
work for me on a couple otherprojects, and he wasn't, you
(07:25):
know, maybe the neatest guy orlike the the best craftsmanship,
but he was cheap and he wouldget it done, right?
Like it was tough, it's stilljust like the same struggle
today, right, as finding goodcontractors.
That was a struggle, right?
So I would say if there's threethings in real estate you were
gonna focus on find deals, findmoney, find contractors.
(07:46):
But um, we had him come in.
It was a big, much bigger scopeof work than I've ever had him
try to tackle previously.
And he had other guys thatworked for him and stuff like
that.
So it wasn't like it was just aone-man band in here.
And anyway, I didn't do a goodjob of coming back to check on
him enough.
He would hit me up for draws andum I would pay the draw, you
(08:07):
know, and he'd tell me, hey,yeah, we're at this stage,
whatever, and I would do it.
And finally I went over there tocheck on it because it was going
long way longer than it shouldhave gone.
And I walked in, and I probablyat this point had given him like
$40,000 in draws, and he haddone about$12,000 maybe of work.
And of that$12,000, I probablyhad to have somebody come back
(08:29):
and fix a good chunk of it,right?
From some of the stuff he didn'tdo right.
So uh would have lost my rear onthat had I have been using like
hard money, for example, or hadI have been um had I had I paid
too much for that property.
So those two things, again,you'll hear me say that on a lot
of episodes, fine deals, findmoney.
(08:51):
And today, so we're gonna focuson the financing piece of that.
Okay.
So there's several buckets ofmoney.
And in uh, for those of you guyswho have been listening to the
podcast, one of the things wetalked about as well is our free
burr for beginners course.
In the Burr for Beginnerscourse, we break this down in
much more detail.
You get some scripts on how toreach out to some of these
lenders, how to have thatconversation, who to talk to,
(09:12):
and all that sort of stuff.
Um, but we're gonna just breakdown a few of these here, some
of my favorites in um investing.
So cash is king in thisbusiness, they say, right?
Well, if you don't have cash,but you have equity in your
house, you can tap that equitywith a HELOC.
So a home equity line of credit.
Not a home equity loan, a homeequity line of credit.
(09:34):
Okay, and this is one of themost powerful tools in real
estate because it's probably oneof the most accessible ways for
most of our listeners out hereto get some quick cash.
All right.
So one of the lenders I preferusing is Johnson Bank.
You can get their informationright off our website under the
resources tab.
We've got a whole lender's listthere.
And I haven't found any otherlenders.
(09:55):
So if you guys out herelistening to this, have lenders
that are doing better dealsright now at the time of this
recording, please let me know.
But if it's your primaryresidence, they will lend up to
90% loan to value.
Okay, so that means if the houseis worth$100,000, you owe
$50,000, they'll lend up to 90%.
So that means they'd give you aline of credit for that
additional$40,000 of equity thatyou have.
(10:19):
Okay.
Now you can basically be likeyour own private lender in this
case.
All right.
So you can, you know, take thathome equity line of credit and
you can use that either for downpayments if you have a lender
that is not going to do theseARB loans that we talked about a
little bit earlier, or you needit for the rehab or whatever you
need it for.
I mean, you can use it for that.
Now, some of the feedback I getfrom people when I talk about
(10:39):
that, and maybe it's a spouse,right?
So maybe you're listening tothis and you're the gas pedal
and your spouse is the break,and they're gonna say, Oh, I
don't want to put our house onthe line.
Okay.
And I get that.
Like everybody's got differentrisk tolerances uh in this
business.
But here's what I would saywhere a lot of people get in
trouble with HELOCs is they seethis big wada equity and a lot
(11:00):
of access to cash.
And pretty soon they're puttinga boat on this thing.
You know, you're buying allother things, you know,
vacations, all this other stuff,and you're basically financing
that just like you would acredit card on certain things
and certain purchases.
Now it's a much cheaper ratethan a credit card, but it's
still you're paying interest onsomething you you don't need to
(11:21):
pay interest on.
It's not going to make youmoney.
Okay.
So when you're doing it withreal estate, though, think of it
like you're paying a privatelender this money, but the
private lender is you or yourline of credit.
So, for example, with JohnsonBank as it sits right now, um,
they have a 6.49% rate on theseHELOCs, which is incredible.
(11:44):
Like cheaper than any commercialloan you could get, even.
So if you have equity in yourhouse and you have not tapped
into that equity yet, I wouldhighly recommend you go do that
right now.
The other reason I say that isequity in your house, you think
about this.
You've either paid that money into pay your loan down, or it's
appreciated, or most likelyboth.
(12:04):
Okay.
But you can't you can't use thatmoney if it's tied up in your
house.
It's just stuck in there, right?
So you either have to, in other,in a different scenario, you
would have to sell your house toget that money unlocked, right?
What the HELOC does is it allowsyou to tap into that money that
you've already paid in to thishouse, or thanks to the
appreciation is appreciated.
So it's an amazing tool.
(12:26):
We highly recommend um peopleget get access to this.
And one thing of comfort, maybefor a spouse, is you don't pay
anything on it unless you useit.
So, you know, you get access toit.
They maybe they would charge youa five$50 a year fee or
something.
Sometimes they just have like amaintenance fee to keep your
line of credit open.
But it's a um, otherwise it's ait's like a credit card.
(12:48):
You don't pay for it unless youuse it type of a situation.
So if you have no, you know, youjust want to have it there, um,
you have access to it.
The other thing of security, Iactually think getting access to
your HELOC gives you moresecurity than if you do not have
a HELOC.
Okay.
Uh something major does happen,let's just say there's a medical
(13:11):
emergency, you had to come outof pocket for a bunch of money
or something like that, and youdon't have buckets of cash
sitting around in your bankaccount, but you got a lot of
equity tied up in your house.
They always say house rich,money poor, right?
Cash poor, whatever you want tocall it.
The uh the equity now you haveaccess to it.
So you don't have to try to now,when you're in a bad spot, say
your credit's now going in thetank or you don't have money to
(13:32):
like get a bank and show them,oh my gosh, I'm bankable because
you're in this difficultpredicament.
Well, you already proactivelytap the equity in your house.
So now you have that equity tobe able to use in a in a
situation if something did gosouth, not related to real
estate necessarily, but just ingeneral.
Another thing with creditors, ifyou're using this, somebody
tries to sue you and take yourhouse.
(13:54):
If let's say you had that equityout there working on a deal,
well, now there's very littlefor that creditor to try to go
after, right?
You have 10% basically equity inyour house that they can try to
sue you for.
The rest of it's all debt.
So what are they gonna what arethey gonna go after you for?
So you make your target on yourback a lot smaller when you
actually are utilizing thatequity in a responsible way.
(14:16):
Okay, so it is aboutresponsibility.
Again, I'm every everybody hasto make their own decisions
about their risk tolerance, butI'm guessing if you're looking
at getting into real estateinvesting, you're not like a
traditional stock bond uhtreasuries type of a person.
You're somebody who's looking tomove the needle a little quicker
and do some things alternativelythan what mainstream uh, I guess
(14:37):
you would say, mainstreamculture would have you looking
at doing by going the realestate route.
So I applaud you for that.
If you are listening to this,and that is the direction you're
going because you're making somesmart moves here.
All right, so that is one of myfavorite, easiest one to use.
Now, the other thing is youmight say, hey man, I rent or I
just bought my house, I don'thave any equity, I did 5% down,
(14:58):
I don't have any equity.
What should I do?
Okay, so using this Johnson bankexample, let's say you're, you
know, somebody my age, yourparents maybe have had a house
now for 5, 10, 15, 20 years,they're gonna have some equity
in that thing, right?
So maybe you go have aconversation with them and say,
hey, look, what if you guysborrowed your home equity line
to me?
(15:19):
Okay, and so you're gonna getcharged 6.5%.
What if I pay you 10%?
That's money that's just sittingaround dead in your house, not
making any money.
And I can pay you basically justlike what the bank does.
They they take your deposits,they give you 0.001% on your
deposit interest, and they golend it out at 6.5%.
(15:39):
Okay, you're basically doing thesame thing.
You're saying, hey, you're gonnaget it at 6.5%, you're gonna
borrow it to me, I'm gonna payyou 10, 12, whatever percentage
you negotiate with them.
Okay.
But now they're making somemoney.
You have access to a lot morecapital.
You didn't have to go through atraditional bank to get it, and
nobody had to drain their bankaccounts to lend to you.
(16:01):
All right, so that's anotheroption.
Along that line, private money,this is one of my other
favorites.
All right.
So what is private money?
This is friends and family,okay?
So these are people in yournetwork.
They know you, they like you,they trust you, they know your
history, they know yourcharacter, right?
If you're a trustworthy personand you've got some some
relationships in that way, uh,that those are going to be
(16:22):
people who would probably borrowto you, okay?
And one thing I've noticed overthe years on this, when you are
having a conversation withpeople about borrowing money
from them, all right, sometimesit can feel like, man, like the
feedback I get, and I get it.
Like I was like this on my firstone.
Ah, well, like what if I don'tpay him back, right?
It's a fear that kind of kicksin.
(16:43):
What if what if this deal goessouth?
What if I can't pay this personback?
Thanksgiving and Christmas isgonna be really awkward.
All right.
Um, or I don't want to chasepeople down for money.
Like, I don't like hounding myfriends or family for anything,
especially asking them formoney.
Okay.
So a couple reframes for youguys.
It's all just a mental thing,right?
And you just gotta try toreframe this in your brain a
(17:05):
little bit.
When I think about talking tofriends and family about um
private money or raisingcapital, I really truly believe
this.
That, and I was like this earlyon, too.
So you have to anything you'regonna sell, you gotta believe in
it, right?
And if you believe in yourselfand you've done your homework,
you've listened to this podcasta bunch, you've you've
researched other stuff, you'rein the course, you're you got a
(17:27):
network of people here to keepyou from falling off the rails,
like you're doing all the rightthings, and you're gonna go do
that first deal, right?
How do you know that thatthing's not gonna go south?
Okay.
Well, number one, you don't knowthat, all right, but you got
confidence in yourself, okay?
So what you need to reframe itat is hey, I have an opportunity
here that I'm gonna be umflipping this house, rent
(17:50):
getting a rental, andrefinancing it, whatever the
case is, and uh, and I'mbringing some other people in
that wanna put some money towork.
I'm paying a 10% return on this.
Do you do you happen to knowanybody that would be interested
in putting some capital to workand getting 10% on their money?
You know how many people outthere have cash sitting on the
sidelines that would be like,yep, right here.
(18:10):
Okay, it's not, hey, could Iplease get some money from you?
That is gonna make people runaway from you.
That's the the smell we call itof stinky clone, somebody who
needs the cash.
All right.
You don't need the cash, youhave an opportunity for somebody
to put their money to work andyou're gonna pay them a nice
rate of return, potentially adouble-digit return on their
capital, which is incredible,right?
(18:32):
So um that that source of orthat reframe can really, really
be a powerful thing.
Another thing with privatemoney, guys, something to
remember, somebody in our teamactually just went from
potentially having maybe$100,000from a family member to now
maybe almost unlimited funds inthe sense of what their goals
(18:52):
are.
I mean, maybe we're talkingseven figures here of potential
private capital from one source.
And what happens sometimes withprivate money is they want to
see the proof in the pudding,right?
So sometimes maybe you just gotto take a small amount, maybe
20,000 or something like thatfor a rehab and put that money
to work.
And then when you pay them back,they go, hmm, that was pretty
(19:13):
easy.
I didn't have to do anything.
I had a nice little rate ofreturn here.
And you show them the rate ofreturn, you show them the money
they made just from doingnothing.
And now they're like, hey, doyou, you know, I got more cash
here.
How do we get a how do we dothis on a bigger scale?
Right.
And pretty soon they're gonnabecome your biggest fan, your
biggest advocate out therebecause they want you to go get
find deals now because they youfound the money.
Now they want you to go finddeals so that you can put their
(19:35):
capital to work.
And it's a really, really coolthing.
I've I've seen this with so manyum private lenders that we've
borrowed from over the years.
Once they realize how easy it isto just get a rate of return,
and I'm out there doing all thework and and doing all the hard
decisions and uh moving you knowcontractors around and making
making moves, buying the deals,doing all that stuff.
So like, I got the easy part ofthis this gig.
(19:58):
I just gotta scratch a check orsend a wire, fill out a mortgage
satisfaction when it's all done,and bada boom, bada bang, you
know, it's it's pretty easy forthem.
So private money.
So we got HELOCs, private moneywould be the other one.
Uh, if you guys are listening tothis podcast, we did an episode
with Jay Connor.
I don't remember when that was,maybe 20 episodes ago.
(20:18):
But if you go back to that, wedeep dive private money into
that episode.
And I was also on Jay Connor'spodcast a couple times.
So if you if you search up him,he's got a great podcast.
It's all about raising privatemoney.
He's got a book on it, he's gotcourses.
He is like the guy you want tolearn from as it relates to
private money.
So check that out.
That's another great, greatsource.
Again, no credit checks, nobackground check, nothing.
(20:41):
It's all about your relationshipcapital that you have with
people.
Um, the other thing I would justsay before we transition to some
of the other money sources is uhwith private lenders, okay, uh,
you don't know who has cash outthere.
Like you can assume that you,oh, I know that person doesn't
have a lot of money, so I reallydon't want to ask them, right?
(21:02):
When you do the third party ask,as I kind of gave you guys a
little earlier, so I'll say itagain here.
This is a third-party ask, like,hey, I've got a deal coming up.
It's gonna be a good deal forus.
We're looking, we're opening itup to some other uh people who
would want to partner with us onit as capital partners.
Uh, do you happen to knowanybody that would want to get a
10% return on their money?
Now, again, you can say that toanybody, right?
(21:25):
You're not directly asking thatperson, so it avoids some
people's what would you say, um,conflicts of asking their
friends and family for money.
You're asking them who do theyknow?
Now, if they have cash and theythey want to know more, they
will tell you that.
All right.
Um, but just I would say justdon't assume you know people's
(21:45):
financial situation unlessthey've already disclosed that
to you in a previousconversation.
Uh, example of this, uh, anotherinvestor in our network was
sharing with me a few years ago,had a guy who drove school bus
his whole life, right?
We know school love our schoolbus drivers out there taking
care of kids, making surethey're safe, all that stuff.
But they we know they're not thehighest paid people on the
(22:06):
planet, right?
They do it most likely becausethey they love it, or there's
some other motivating factor forthem besides the financial gain
of being a school bus driver.
But he brought this up to them,kind of did the third party ask.
And this individual had over$200,000 that they were getting
a mediocre return on.
And uh, yeah, I would love toget to a deal with you and get
(22:28):
10%.
So again, just don't assume,don't judge the book by the
cover, as they say out there.
And you know, just talk to a lotof different people about what
you're up to.
Another thing that we share onthis podcast every time is like,
hey, share this episode withpeople.
You know, if you get some valueout of it.
And again, it's not necessarilyit is for all, we definitely
want more people listening toit.
(22:49):
It helps us build the audience,right?
That's the whole reason we dothis.
Um, but being completely honestwith you, it helps you out just
as much as it helps us becauseif you are trying to raise
private capital, people nowrealize you are into you're
learning, you're you're you'reself-educating about real estate
investing.
And so they're gonna yourcredibility is naturally gonna
build by the by you sharingnuggets you're learning or
(23:11):
different things that you'redoing, along with clips of this
episode or the entire episode.
And um, and then that you don'thave to just share this, but
social media is a great way tojust continue to build that
awareness that you're in realestate.
So when you do need some capitaland you go ask them, they're not
like, oh dude, I didn't know youwere doing real estate, right?
When did you start that?
(23:32):
You know, like they're gonna be,oh yeah, I saw you've been, you
know, learning about real estatefor a while or whatever the case
is.
So you can do it at any stage.
If you're just starting out,just start sharing the episodes
and let people know what you'relearning.
And if you've been doing it awhile, you know, share the
episodes, but then also sharesome of the things you're doing,
some of the deals you're doing,some of the successes, some of
the losses, all that kind ofstuff.
(23:53):
And people will be attracted tothat and you'll build your
credibility and trust over thelong haul.
Okay, so those are some two ofmy favorite sources of capital.
The other source I love iscommercial lending.
Okay, so I'm gonna get into whatis commercial lending.
Community banks is another wayto think about it.
So this is not Wells Fargo orChase Bank or some of the big
(24:15):
boys, okay?
These are small local communitybanks, typically speaking.
All right.
And again, we've got a bunch oflenders here.
You can go on our website ifyou're not on our buyer's list
yet, get added to the buyer'slist, and then usually Connor or
Reese from our team will have aconversation with you and uh
help you get set up with some ofthese folks.
But um, the reason I lovecommunity banks is because if
(24:37):
you have, say, a HELOC orprivate money, they will
typically be your best interestrate and terms, and they can
usually turn it around prettyquickly.
They're like common senselending options.
Okay.
So what I mean by that is if yougo to the big boxes, right,
they're gonna sell a lot ofthese loans off on the secondary
market.
And if that's foreign languageto you, it was to me for a very
(24:59):
long time.
But just know basically theyhave to have a product that fits
within a box that they can thengo to investors on Wall Street
and say, here, buy 10,000 ofthese products that all fit
within this box that you havedesignated that you want.
Okay.
Now, if you're an investor andyou're like, well, man, my
credit's not great, or I've gota lot of cash, but I have no
(25:21):
experience in real estate, and Idon't have a W-2, I'm a business
owner, right?
You're not in the box.
Okay.
You've got some othercircumstance going on outside of
that box.
Commercial lenders, a lot oftimes, are relationship-based.
Like they're gonna want to getto know you, your story, your
goals, your credibility, howyou're gonna keep their capital
safe.
(25:41):
Like it's much more like a jobinterview uh when you're trying
to get capital from a commercialbank or community bank than it
is about fitting inside of WallStreet's box.
Okay.
So I encourage everybody if youare serious about growing a
portfolio or doing more than aflip, you're gonna want to have
relationships with communitybanks.
(26:03):
All right.
And the more relationships youcan have, generally speaking,
the better.
And here's why community banks,number one, uh, the benefits of
them, they're gonna be cheaperrates than a lot of other places
you can get.
Okay.
They're gonna have some prettyinteresting terms and creative
things you can do.
So let's say you have a dealthat requires, you know, some
some creativity.
(26:24):
Okay, you can present that toyour relationship at the
community bank.
And if it makes sense, they'llprobably do it, right?
If they feel like, hey, we'regonna keep our capital safe by
doing this deal, we trust thisperson.
It's pretty similar to privatemoney in that sense.
They will lend to you, okay.
Um and again, they can they canrefinance, they can finance you
(26:44):
for the long term too.
Like a lot of private money,you're gonna have to pay back
either short-term private moneyloans or you know, usually
people want their money backwithin five years, I've seen in
the private money world.
Sometimes you can get get peoplewho just want to keep it running
on on deals, but the communitybanks typically they'll want to
keep keep that money going.
That's their job, right?
So, in the community bank space,a couple things to be aware of
(27:07):
amortization schedules.
Okay, so this is somethingyou're gonna want to ask them
about.
Most community banks are gonnabe 20-year amortization
schedules.
That means if you're trying todo a rental in this market, it's
a little tougher to get cashflow if you're on a 20-year
amortization schedule becauseyour monthly payment's gonna be
bigger.
Now you're paying a lot moreprincipal off, which is great.
You're building a lot moreequity, a lot more wealth that
(27:29):
way, but your cash flow is notgonna be awesome.
So if you don't have a cashmachine, as Jimmy, my buddy
Jimmy Vreland talked about onone of the episodes a while
back, uh, you're gonna want tobe careful with 20-year AMS
because your cash flow is gonnabe tight, and you need to have a
nice little bucket of cash overhere in case you got to fix
something out of the blue andcover that on a rental property.
(27:50):
All right.
Or that's why we talk abouthaving that HELOC there.
That's a nice little safety net.
All right.
The uh the other thing, 25 year,obviously you're stretching your
payments out a little longer,less principal.
And then there are somecommunity banks and credit
unions that'll do 30 year.
Now, notice earlier I didn't saycredit unions are a great
option.
I know some people out therelove credit unions, they work
(28:10):
with them all the time.
If you have more stabilizedproperties, meaning like you're
buying more of like a turnkeytype of thing, it's not a value
add, it's not going to need alot of rehab, that type of
thing, credit union, greatoption.
Okay.
Um, you've had a property now,let's say it was seller
financed.
Uh, I actually have a triplexrate like this right now.
Got it on seller financing withvery little money down.
(28:33):
We fixed it up over the year.
It's now um fully rented up,stabilized, all that sort of
stuff.
And I've owned it for over ayear.
I've been shopping it to somecredit unions to try to
refinance my seller finance outof because my interest rate
isn't as awesome as it was whenI first did this.
Uh, but anything less than that,they typically are gonna want
(28:54):
some kind of seasoning period.
Six months is probably theshortest you're gonna see from a
credit union.
12 months is more likely.
And what that means is they wantyou to have that property owned
in your name or your LLC's namefor that length of time to
season the title.
All right.
Why?
I don't know.
I could ask somebody out of acredit union, I never have.
But a lot of them, that's theirrule.
(29:14):
They're usually a little bitmore conservative than your
community banks.
All right, they're gonna have alittle box that their credit
union wants it to fit in.
But when you have a morestabilized property, those
credit unions are typicallygonna be able to offer you
longer amortization schedulesand better interest rates.
So that's something to consider.
So they're a good tool to havein the tool belt.
(29:36):
I keep them in there more forstabilized longer-term stuff.
I'm not gonna use them onsomething short-term typically,
but um uh they're a good toolfor longer-term cash flow type
of situations.
Okay.
Back to the community banks.
Okay.
So again, you're gonna want tobuild some credibility with
these guys and gals.
You're gonna want to maintainrelationships and you're gonna
(29:58):
want to have a lot of differentoptions for community banks
because they all have a littlebit of a different um setup.
Okay.
Some of them are gonna do, likeI said, 80% of the after repair
value.
That's usually reserved for moreexperienced investors in this
market or people who they have alonger-term relationship with or
have deposits with.
So this is something else tothink about too.
(30:19):
If you have some cash sittingaround or you have a rental LLC
that you're gonna put some ofthose loans over there with that
community bank, you may want tothink about opening up a bank
account with them or a checkingaccount and have some money
flowing in and out of therebecause that will that will
typically bode well for thesecommunity banks because they
rely on um people bringing.
Bringing deposits so that theycan continue to service those
(30:41):
loans because a lot of timesthey service these loans
in-house.
Okay.
Um, what else about communitybanks?
Yeah, they they're greatpartners.
That's all I gotta say.
Cheaper money.
A lot of times you can stretchout those amortizations and um
and do some tech some somecreative things.
Okay.
Now we'll get into hard moneyloans, and this is probably the
(31:01):
last one I'll talk about.
All right, and then again,there's other options out there
we won't get into today, butwe're covering the main ones
here.
So hard money loans, these aretypically gonna be more
expensive loans, but there's somuch convenience with them.
And what I mean by that is umthere's a couple hard money
lenders locally that werecommend.
(31:22):
And again, if you fill out thatform and get on our list, we'll
definitely get you connected tothem.
But they will lend off of theafter repair value as well.
Now they're gonna be a littlebit lower than some of the
community banks we described asfar as the percentage.
So they'll lend 65% of thatafter repair value.
So that means if you think thathouse is gonna be worth$100,000
when it's all said and done, iteveryone's a little different.
(31:44):
But in some cases, you're gonnaget them the comparables, you're
gonna justify the$100,000 afterrepair value, and they will say,
great, we will lend you up to65% of that.
Okay.
Now, the really cool part aboutthis is sometimes speed is what
allows you to get some reallygood deals.
If you have these guys set upand you're pre-approved with
hard money lenders, and asmoking deal comes up, but it's
(32:06):
got to close in two weeks.
Let's say you didn't have thecash, you didn't follow my
advice, and you didn't get thatHELOC set up, all right, you
don't have any community banksthat can close that quick.
So once in a while you'll getone that can in certain
circumstances, but it's prettyrare.
Uh, usually a community bank isgonna be 30 to 45 days max that
they can close that thing.
Okay, so they're gonna need alittle longer lead time than
(32:27):
these hard money lenders.
Hard money lenders can close itin like literally hours.
I mean, if you have title doneon it, or if the title title
company can get the title workdone quickly, uh it's a pretty
clean, there's no mortgage,there's no liens, there's
nothing crazy with it.
It's just a matter of runningtheir title search and getting
their underwriter to approve it,they can literally get it done
(32:48):
in like hours.
So having that, think of thepower that you have, even if you
plan to never use hard money,but you have them set up as a
relationship that you can tapinto if needed.
Again, you don't want to pass upa deal just because you didn't
have the financing set up.
So you go out, you do step one,you find some great deals.
Awesome.
(33:09):
If you got no money to buy it,it doesn't matter.
You can find all the great dealsin the world.
If you can't actually doanything with it, you got
nothing.
So for those people out therethat are listening to this,
they're like, man, I got cash upthe wazoo.
You know, I don't I don't needany hard money.
I'm not paying those expensivefees and all this other stuff.
Well, it's a lot more expensiveto miss out on a great deal.
(33:30):
I'll tell you that right now.
So you're gonna want to havethat hard money lender set up,
even if it's just set up as anemergency backup option.
You know, I keep myrelationships with my hard money
lender set up.
I maybe we'll do one or two ayear on a hard money loan.
Um, but it's awesome to have itthere, you know.
Like we've had some situationsas wholesalers where we have the
(33:52):
relationship with the seller.
We have a responsibility to makesure that if we give that seller
the green light, that we're goodto go, that we're good to go.
We're gonna close that thing.
And we've unfortunately had afew situations over the years
where the buyer backed out ofthe deal.
Now we got their earnest money,great, but it still doesn't
cover some of these costs thatwould incur with hard money, but
(34:14):
we have that relationship withthe seller.
We're not gonna let them, we'renot gonna let the seller down if
we give them the green light.
So we've tapped into the hardmoney in those cases.
Two days to close, boom, done,right?
Um, so that is something todefinitely make sure you guys
have as an option.
I know a ton of investors outthere that even though they know
they could get cheaper moneyworking with a community bank,
(34:36):
they would they refuse and theywill strictly work with their
hard money lender because it isso easy and so convenient.
Okay, so again, they're gonna bevery relationship-based in a lot
of cases.
Um, depends on the hard moneylender.
Now, there's some national hardmoney lenders out there.
Those folks, I would say, usewith caution.
Okay, and the reason I say thatis um there is a uh hard
(34:59):
national, I don't I don't thinkthey consider them a hard money
lender, but they considerthemselves a national lender.
And what I mean by that isthey're not like a local
company, okay?
They're bigger company, they'reowned by a board of directors,
and they've got probably tons ofinvestors all over the place
that are putting money in intotheir company, and then their
(35:20):
responsibility is to lend thatout.
All right.
They will make claims like, hey,we can close anything up in two
weeks, no problem, right?
What actually ends up happeningthough, we've noticed when we
have a borrower or a buyer whocomes in and that is their
preferred source of funding.
We we no longer even allow itunless you have one of our
(35:42):
preferred lenders as a backupoption, at least.
Uh, but they will come in, theywill say, Yep, this person, this
bank said this, this, or this.
And as we get into the processwith them and our transaction
coordinators are working withthem, it's just tough.
Like we've had a couple, theywere, they were, oh, we can
close in two weeks.
Yep, this borrower's good to go.
(36:02):
We get into it, it's two weeks,and all of a sudden they're
like, oh, yeah, no, we haven'teven started working on this one
yet.
It's like, we were supposed toclose this thing in two weeks,
and now you guys haven't evenstarted.
So we've had to push closingback.
And then again, we look bad tothe seller because now we're
having to go back on our wordand move closings back and that
sort of thing.
So just be cautious.
My my thing is cautious with whoyou're working with on the hard
(36:24):
money lending thing.
And again, guys, they are goingto be expensive comparatively
speaking to a commercial lender,but they are worth their weight
in gold if you have a good one.
Because again, you do not wantto miss out on a good deal just
because you didn't have anyfinancing set up.
So those are our lenders wetalked about today, guys.
We've got HELOCs.
If you don't have a HELOC set upright now, go get it set up
(36:45):
today.
It takes literally like I thinkthree weeks to get it set up,
maybe max.
Um, you're gonna want to getyour hard money lender set up as
your backup option.
Okay, get that set up rightaway.
Community banks, as manycommunity banks that you can
have conversations with aspossible.
Last thing on the communitybanks, I'll say as well.
If you don't think you'rebankable or you don't think a
(37:07):
community bank would lend to youat this point, that's okay.
Just start the relationship andfind out.
If they tell you, hey man, wecan't we can't borrow to you
right now, great.
Well, what could I do to be morebankable for you or make you
feel more comfortable?
And then maybe it's somethingyou got to work on for six
months.
Come back to them in six monthsand and have that conversation
again, keeping thatrelationship.
(37:27):
Okay, so community banks andthen those private money
lenders.
All right, those are our fourmain buckets.
Again, we talk about some otherbuckets in the course, but I
don't want to I don't want todrag it down too much with some
of the other nuanced ones.
These are the main ones I seeday in and day out and the deals
that we're doing uh withborrowers.
We'll do over 200 deals thisyear.
The majority of the people thatare buying the deals from us,
(37:51):
they're either using cash, hardmoney, commercial lending, or
private money.
That's it.
That's the majority of thepeople that we're working with.
Okay, so go out there, go findsome cash.
All right.
If we can be of any help here atWisconsin Discount Properties
and the Wisconsin InvestorPodcast, please let us know.
And again, contact me.
(38:11):
You can email me, corey atiby.com, or you can hit me up on
Facebook and um message me.
I don't really go on my actualFacebook page very much, uh, but
if you message me, I still willget that in my messenger app.
So hit me up there if I cananswer any questions for you or
help you.
And then just a reminder, guys,as I wrap this up, if there is
(38:34):
something you would want me orour team to bring to you guys to
discuss on the uh Zooms, and ifthat would be of interest to
you, please message us.
Let us know if there's anythingyou want us to break down,
anything in specific that'shanging you up that we can try
to get on and educate you andanybody else that's if because
(38:54):
chances are if you're runninginto it, somebody else is as
well.
But we would want to make those,if we're gonna do them, I'm
gonna take some time out of myschedule and away from the
family.
I want to make sure it's themost impactful thing I can
possibly do for you guys outthere listening.
So I really do want yourfeedback.
Please send that over.
And again, if you guys got somevalue out of this episode or any
other episode, guys, we reallywant to get those reviews up.
(39:14):
We're at episode 60.
I think I saw on Apple we'veonly got like 15 maybe reviews
on there.
So I would love to get that to60.
So if you can help us out withthat, you're you would that
would mean the world to me.
You just go scroll down and goto the show, scroll all the way
down, I believe.
And then there's a spot thatsays rate and write a review.
Just do that on there.
(39:35):
And then if you're checking thisout on YouTube, subscribers
means a lot to us.
So if you can just hit the oldsubscribe notification button
there and then comment on any ofthese videos.
Again, that those thatinteraction really helps us as
well.
So, with that, guys, I will wrapit here.
I hope you guys are all havingan awesome week.
I hope this has been helpful,and we will see you guys on the
next episode.
What's going on, everybody?
I'm your host, Corey Raymond,and you're listening or watching
the Wisconsin Investor Podcast.
So thanks for tuning in, guys.
Today, I believe when thisdrops, this will be about our
60th episode, which is prettycrazy to think about.
So for all of you guys who'vebeen tuning in, I really
appreciate you guys watching orlistening to the show.
(01:01):
Uh, it's been a lot of fungetting to interview a lot of
great people.
And uh, for those of you guysthat are reaching out with
feedback and giving me someinsights, man, it's been
awesome.
So thank you for that.
Keep keep bringing me some ofthat feedback and some of those
insights, and we'll keepbringing you guys great guests
and solo episodes and differenttopics that hopefully can help
you guys move the needle forwardand help you guys in your real
(01:22):
estate investing journey.
So, um, one thing I am going totalk about today, I usually do a
little sponsorship, as you guysknow, on every episode.
But today, uh, what I want totalk about is we're looking at
starting a little series.
Um, we did a few of these a fewyears ago where we would hop on,
I would hop on a Zoom uh likeonce once a month for a little
(01:43):
bit or once a quarter, somethinglike that.
And uh we've done some like askme anything type of episodes of
that or events of that.
We've done some specificteachings on things.
Um, and we're gonna we'relooking at, we're exploring
starting that up again.
But I want to get your guys'feedback.
So if you have some specificthings you would love to have me
on live uh on a Zoom, and youcan hop on with some other folks
(02:06):
and ask questions and and getsome real answers to some things
uh that are on your mind as itrelates to real estate, um, just
send me a message either onFacebook or you can email me
coreyc-o-re-y at ibywi.com.
And uh I would love to get yourfeedback on what would be the
most impactful for you out therelistening to this as you are
(02:28):
trying to grow your real estateempire.
So um, with that, one of thetopics that comes up a lot is
financing deals.
And so that's what I want totalk about today.
So for those of you guys thatare out there and you're you're
cranking deals left and right,you might tune this one out and
say that ah, nothing in here forme.
But I'd encourage you to hang onbecause um, you know, I what I
(02:50):
find fascinating is when I haveconversations with experienced
investors, sometimes they arestill using financing options
for certain deals that are stilla little bit perplexing.
And I think if they wouldrestructure some things a little
bit in their in their capitalstack and the way that they're
doing things, they they wouldprobably be able to be more
competitive on offers or be moreprofitable on the deals that
(03:10):
they are working.
So I'm not gonna go into everydetail today, guys, on every
type of financing option outthere.
So, you know, if your feedbackfor me today would be, oh Corey,
you didn't talk about this thingor that thing, like I get it,
right?
There's gonna be some things I'mnot gonna know about or or
probably be able to dive intotoday.
Um, but if you're out therelistening and I don't talk about
(03:31):
something in particular that'sbeen helpful for you financing
deals, um, please do let me knowthat because I'm always looking
for um different ways to tofinance deals for us or for our
for you out there on the buyer'slist.
So um one of the things we'lltalk about today, and you guys
hear me, you know, talk aboutthis all the time.
(03:52):
Uh the two most important thingsI think, as anybody's trying to
grow their real estateportfolio, there's two things
you could do that would reallybasically ensure your success.
Okay, you could mess up in otherways, but if you do these two
things, you will be successfulin real estate investing.
Number one, find good deals.
Okay, I think we have the bestsource of that at Wisconsin
(04:13):
Discount Properties.
I'm a little biased, okay?
But one great source.
And we've talked about how tofind deals on other episodes.
We'll probably do another soloepisode at some point just on
finding deals.
So finding deals and find money.
If you could find those twothings, and you the cheaper
money you can get, the betterterms you can get, all that, the
more competitive you can be onyour offers, uh, the more
(04:36):
options you're gonna have, themore deals you're gonna have,
and all that sort of stuff.
So those two things find deals,find money.
Just focus on those two things,and you will be super
successful.
Now, you're still gonna needproperty managers, for example,
if you're doing rentals, orcontractors if you're doing
flips, or somebody to run yourcontracts uh or your projects,
or whatever the case is,depending on your level and all
(04:56):
that sort of stuff.
So those things will come.
But if you just focus, like Isaid, finding deals, find money,
you can have the worstcontractor in the world.
And if you got a good deal andyou financed it correctly,
you're still gonna make money onit.
I'll share a quick example ofthat.
2018, I had an upper lowerduplex in Green Bay that I got
from one of our marketingpieces.
(05:17):
Came in, old guy in his 90s,tough to negotiate, tough to
hear.
And he was still self-managingthis thing.
And um we settled on, I offeredhim 50,000 for it.
The place needed one ofeverything, right?
Uh, I think we had a tenant init that was like literally
dealing drugs like while we wereoutside talking.
There were people coming up tothe door, and I'm pretty sure
(05:39):
that's what was going down.
Um, she had locks on the inside,um sorry, on the outside, so she
could lock her her kids in thehouse, which again, I don't know
what their situation is.
I'm not here to judge, butanyway, it was a very it was one
of those pit bulls you didn'teven have any kind of stereotype
you can think of.
Um, but we bought it at 50,000.
Now, at that time, that was thatwas a really good deal even
(06:02):
then.
Um it now, if you get somethinglike that today, it's even more
credible.
It was a three-bedroom eachunit, and we had to stick a
bunch of money into it.
Um, believe we financed that onewith commercial financing.
So at that time, rates wereprobably about where they are
now.
Um, and the the lender that wehad financed 80% of the after
(06:23):
repair value.
So that's something we'll getinto a little bit today.
And so what that meant isthey'll come in, they do an
appraisal on what is this thinggonna be once once it's fixed
up, and you give them your scopeof work.
So you tell them, hey, I'mplanning to do X, Y, Z to this
property, and then they give youa valuation on that.
Say, hey, once it's done, thisis what it's gonna be worth.
And then the lender will say,Great, we'll give you up to 80%
(06:43):
of that.
Okay.
Now, those loans used to be alot easier to get.
They're a little bit tougherthese days.
All right.
So uh we still have commerciallenders that are doing these
loans for us on our flipprojects and and burrs, uh, but
they're just more rare,especially if you're just trying
to start out.
And so we'll talk about someother financing options of how
do you get to that point in arelationship where you can get
(07:05):
some lenders to give you these80% ARV loans because think of
that.
If you have no money into thesethings, they're covering your
rehab and they're covering yourpurchase price, you can do a lot
of deals, right?
I mean, pretty much unlimiteduntil that bank tells you no.
So we did this deal, and I had acontractor that had done some
work for me on a couple otherprojects, and he wasn't, you
(07:25):
know, maybe the neatest guy orlike the the best craftsmanship,
but he was cheap and he wouldget it done, right?
Like it was tough, it's stilljust like the same struggle
today, right, as finding goodcontractors.
That was a struggle, right?
So I would say if there's threethings in real estate you were
gonna focus on find deals, findmoney, find contractors.
(07:46):
But um, we had him come in.
It was a big, much bigger scopeof work than I've ever had him
try to tackle previously.
And he had other guys thatworked for him and stuff like
that.
So it wasn't like it was just aone-man band in here.
And anyway, I didn't do a goodjob of coming back to check on
him enough.
He would hit me up for draws andum I would pay the draw, you
(08:07):
know, and he'd tell me, hey,yeah, we're at this stage,
whatever, and I would do it.
And finally I went over there tocheck on it because it was going
long way longer than it shouldhave gone.
And I walked in, and I probablyat this point had given him like
$40,000 in draws, and he haddone about$12,000 maybe of work.
And of that$12,000, I probablyhad to have somebody come back
(08:29):
and fix a good chunk of it,right?
From some of the stuff he didn'tdo right.
So uh would have lost my rear onthat had I have been using like
hard money, for example, or hadI have been um had I had I paid
too much for that property.
So those two things, again,you'll hear me say that on a lot
of episodes, fine deals, findmoney.
(08:51):
And today, so we're gonna focuson the financing piece of that.
Okay.
So there's several buckets ofmoney.
And in uh, for those of you guyswho have been listening to the
podcast, one of the things wetalked about as well is our free
burr for beginners course.
In the Burr for Beginnerscourse, we break this down in
much more detail.
You get some scripts on how toreach out to some of these
lenders, how to have thatconversation, who to talk to,
(09:12):
and all that sort of stuff.
Um, but we're gonna just breakdown a few of these here, some
of my favorites in um investing.
So cash is king in thisbusiness, they say, right?
Well, if you don't have cash,but you have equity in your
house, you can tap that equitywith a HELOC.
So a home equity line of credit.
Not a home equity loan, a homeequity line of credit.
(09:34):
Okay, and this is one of themost powerful tools in real
estate because it's probably oneof the most accessible ways for
most of our listeners out hereto get some quick cash.
All right.
So one of the lenders I preferusing is Johnson Bank.
You can get their informationright off our website under the
resources tab.
We've got a whole lender's listthere.
And I haven't found any otherlenders.
(09:55):
So if you guys out herelistening to this, have lenders
that are doing better dealsright now at the time of this
recording, please let me know.
But if it's your primaryresidence, they will lend up to
90% loan to value.
Okay, so that means if the houseis worth$100,000, you owe
$50,000, they'll lend up to 90%.
So that means they'd give you aline of credit for that
additional$40,000 of equity thatyou have.
(10:19):
Okay.
Now you can basically be likeyour own private lender in this
case.
All right.
So you can, you know, take thathome equity line of credit and
you can use that either for downpayments if you have a lender
that is not going to do theseARB loans that we talked about a
little bit earlier, or you needit for the rehab or whatever you
need it for.
I mean, you can use it for that.
Now, some of the feedback I getfrom people when I talk about
(10:39):
that, and maybe it's a spouse,right?
So maybe you're listening tothis and you're the gas pedal
and your spouse is the break,and they're gonna say, Oh, I
don't want to put our house onthe line.
Okay.
And I get that.
Like everybody's got differentrisk tolerances uh in this
business.
But here's what I would saywhere a lot of people get in
trouble with HELOCs is they seethis big wada equity and a lot
(11:00):
of access to cash.
And pretty soon they're puttinga boat on this thing.
You know, you're buying allother things, you know,
vacations, all this other stuff,and you're basically financing
that just like you would acredit card on certain things
and certain purchases.
Now it's a much cheaper ratethan a credit card, but it's
still you're paying interest onsomething you you don't need to
(11:21):
pay interest on.
It's not going to make youmoney.
Okay.
So when you're doing it withreal estate, though, think of it
like you're paying a privatelender this money, but the
private lender is you or yourline of credit.
So, for example, with JohnsonBank as it sits right now, um,
they have a 6.49% rate on theseHELOCs, which is incredible.
(11:44):
Like cheaper than any commercialloan you could get, even.
So if you have equity in yourhouse and you have not tapped
into that equity yet, I wouldhighly recommend you go do that
right now.
The other reason I say that isequity in your house, you think
about this.
You've either paid that money into pay your loan down, or it's
appreciated, or most likelyboth.
(12:04):
Okay.
But you can't you can't use thatmoney if it's tied up in your
house.
It's just stuck in there, right?
So you either have to, in other,in a different scenario, you
would have to sell your house toget that money unlocked, right?
What the HELOC does is it allowsyou to tap into that money that
you've already paid in to thishouse, or thanks to the
appreciation is appreciated.
So it's an amazing tool.
(12:26):
We highly recommend um peopleget get access to this.
And one thing of comfort, maybefor a spouse, is you don't pay
anything on it unless you useit.
So, you know, you get access toit.
They maybe they would charge youa five$50 a year fee or
something.
Sometimes they just have like amaintenance fee to keep your
line of credit open.
But it's a um, otherwise it's ait's like a credit card.
(12:48):
You don't pay for it unless youuse it type of a situation.
So if you have no, you know, youjust want to have it there, um,
you have access to it.
The other thing of security, Iactually think getting access to
your HELOC gives you moresecurity than if you do not have
a HELOC.
Okay.
Uh something major does happen,let's just say there's a medical
(13:11):
emergency, you had to come outof pocket for a bunch of money
or something like that, and youdon't have buckets of cash
sitting around in your bankaccount, but you got a lot of
equity tied up in your house.
They always say house rich,money poor, right?
Cash poor, whatever you want tocall it.
The uh the equity now you haveaccess to it.
So you don't have to try to now,when you're in a bad spot, say
your credit's now going in thetank or you don't have money to
(13:32):
like get a bank and show them,oh my gosh, I'm bankable because
you're in this difficultpredicament.
Well, you already proactivelytap the equity in your house.
So now you have that equity tobe able to use in a in a
situation if something did gosouth, not related to real
estate necessarily, but just ingeneral.
Another thing with creditors, ifyou're using this, somebody
tries to sue you and take yourhouse.
(13:54):
If let's say you had that equityout there working on a deal,
well, now there's very littlefor that creditor to try to go
after, right?
You have 10% basically equity inyour house that they can try to
sue you for.
The rest of it's all debt.
So what are they gonna what arethey gonna go after you for?
So you make your target on yourback a lot smaller when you
actually are utilizing thatequity in a responsible way.
(14:16):
Okay, so it is aboutresponsibility.
Again, I'm every everybody hasto make their own decisions
about their risk tolerance, butI'm guessing if you're looking
at getting into real estateinvesting, you're not like a
traditional stock bond uhtreasuries type of a person.
You're somebody who's looking tomove the needle a little quicker
and do some things alternativelythan what mainstream uh, I guess
(14:37):
you would say, mainstreamculture would have you looking
at doing by going the realestate route.
So I applaud you for that.
If you are listening to this,and that is the direction you're
going because you're making somesmart moves here.
All right, so that is one of myfavorite, easiest one to use.
Now, the other thing is youmight say, hey man, I rent or I
just bought my house, I don'thave any equity, I did 5% down,
(14:58):
I don't have any equity.
What should I do?
Okay, so using this Johnson bankexample, let's say you're, you
know, somebody my age, yourparents maybe have had a house
now for 5, 10, 15, 20 years,they're gonna have some equity
in that thing, right?
So maybe you go have aconversation with them and say,
hey, look, what if you guysborrowed your home equity line
to me?
(15:19):
Okay, and so you're gonna getcharged 6.5%.
What if I pay you 10%?
That's money that's just sittingaround dead in your house, not
making any money.
And I can pay you basically justlike what the bank does.
They they take your deposits,they give you 0.001% on your
deposit interest, and they golend it out at 6.5%.
(15:39):
Okay, you're basically doing thesame thing.
You're saying, hey, you're gonnaget it at 6.5%, you're gonna
borrow it to me, I'm gonna payyou 10, 12, whatever percentage
you negotiate with them.
Okay.
But now they're making somemoney.
You have access to a lot morecapital.
You didn't have to go through atraditional bank to get it, and
nobody had to drain their bankaccounts to lend to you.
(16:01):
All right, so that's anotheroption.
Along that line, private money,this is one of my other
favorites.
All right.
So what is private money?
This is friends and family,okay?
So these are people in yournetwork.
They know you, they like you,they trust you, they know your
history, they know yourcharacter, right?
If you're a trustworthy personand you've got some some
relationships in that way, uh,that those are going to be
(16:22):
people who would probably borrowto you, okay?
And one thing I've noticed overthe years on this, when you are
having a conversation withpeople about borrowing money
from them, all right, sometimesit can feel like, man, like the
feedback I get, and I get it.
Like I was like this on my firstone.
Ah, well, like what if I don'tpay him back, right?
It's a fear that kind of kicksin.
(16:43):
What if what if this deal goessouth?
What if I can't pay this personback?
Thanksgiving and Christmas isgonna be really awkward.
All right.
Um, or I don't want to chasepeople down for money.
Like, I don't like hounding myfriends or family for anything,
especially asking them formoney.
Okay.
So a couple reframes for youguys.
It's all just a mental thing,right?
And you just gotta try toreframe this in your brain a
(17:05):
little bit.
When I think about talking tofriends and family about um
private money or raisingcapital, I really truly believe
this.
That, and I was like this earlyon, too.
So you have to anything you'regonna sell, you gotta believe in
it, right?
And if you believe in yourselfand you've done your homework,
you've listened to this podcasta bunch, you've you've
researched other stuff, you'rein the course, you're you got a
(17:27):
network of people here to keepyou from falling off the rails,
like you're doing all the rightthings, and you're gonna go do
that first deal, right?
How do you know that thatthing's not gonna go south?
Okay.
Well, number one, you don't knowthat, all right, but you got
confidence in yourself, okay?
So what you need to reframe itat is hey, I have an opportunity
here that I'm gonna be umflipping this house, rent
(17:50):
getting a rental, andrefinancing it, whatever the
case is, and uh, and I'mbringing some other people in
that wanna put some money towork.
I'm paying a 10% return on this.
Do you do you happen to knowanybody that would be interested
in putting some capital to workand getting 10% on their money?
You know how many people outthere have cash sitting on the
sidelines that would be like,yep, right here.
(18:10):
Okay, it's not, hey, could Iplease get some money from you?
That is gonna make people runaway from you.
That's the the smell we call itof stinky clone, somebody who
needs the cash.
All right.
You don't need the cash, youhave an opportunity for somebody
to put their money to work andyou're gonna pay them a nice
rate of return, potentially adouble-digit return on their
capital, which is incredible,right?
(18:32):
So um that that source of orthat reframe can really, really
be a powerful thing.
Another thing with privatemoney, guys, something to
remember, somebody in our teamactually just went from
potentially having maybe$100,000from a family member to now
maybe almost unlimited funds inthe sense of what their goals
(18:52):
are.
I mean, maybe we're talkingseven figures here of potential
private capital from one source.
And what happens sometimes withprivate money is they want to
see the proof in the pudding,right?
So sometimes maybe you just gotto take a small amount, maybe
20,000 or something like thatfor a rehab and put that money
to work.
And then when you pay them back,they go, hmm, that was pretty
(19:13):
easy.
I didn't have to do anything.
I had a nice little rate ofreturn here.
And you show them the rate ofreturn, you show them the money
they made just from doingnothing.
And now they're like, hey, doyou, you know, I got more cash
here.
How do we get a how do we dothis on a bigger scale?
Right.
And pretty soon they're gonnabecome your biggest fan, your
biggest advocate out therebecause they want you to go get
find deals now because they youfound the money.
Now they want you to go finddeals so that you can put their
(19:35):
capital to work.
And it's a really, really coolthing.
I've I've seen this with so manyum private lenders that we've
borrowed from over the years.
Once they realize how easy it isto just get a rate of return,
and I'm out there doing all thework and and doing all the hard
decisions and uh moving you knowcontractors around and making
making moves, buying the deals,doing all that stuff.
So like, I got the easy part ofthis this gig.
(19:58):
I just gotta scratch a check orsend a wire, fill out a mortgage
satisfaction when it's all done,and bada boom, bada bang, you
know, it's it's pretty easy forthem.
So private money.
So we got HELOCs, private moneywould be the other one.
Uh, if you guys are listening tothis podcast, we did an episode
with Jay Connor.
I don't remember when that was,maybe 20 episodes ago.
(20:18):
But if you go back to that, wedeep dive private money into
that episode.
And I was also on Jay Connor'spodcast a couple times.
So if you if you search up him,he's got a great podcast.
It's all about raising privatemoney.
He's got a book on it, he's gotcourses.
He is like the guy you want tolearn from as it relates to
private money.
So check that out.
That's another great, greatsource.
Again, no credit checks, nobackground check, nothing.
(20:41):
It's all about your relationshipcapital that you have with
people.
Um, the other thing I would justsay before we transition to some
of the other money sources is uhwith private lenders, okay, uh,
you don't know who has cash outthere.
Like you can assume that you,oh, I know that person doesn't
have a lot of money, so I reallydon't want to ask them, right?
(21:02):
When you do the third party ask,as I kind of gave you guys a
little earlier, so I'll say itagain here.
This is a third-party ask, like,hey, I've got a deal coming up.
It's gonna be a good deal forus.
We're looking, we're opening itup to some other uh people who
would want to partner with us onit as capital partners.
Uh, do you happen to knowanybody that would want to get a
10% return on their money?
Now, again, you can say that toanybody, right?
(21:25):
You're not directly asking thatperson, so it avoids some
people's what would you say, um,conflicts of asking their
friends and family for money.
You're asking them who do theyknow?
Now, if they have cash and theythey want to know more, they
will tell you that.
All right.
Um, but just I would say justdon't assume you know people's
(21:45):
financial situation unlessthey've already disclosed that
to you in a previousconversation.
Uh, example of this, uh, anotherinvestor in our network was
sharing with me a few years ago,had a guy who drove school bus
his whole life, right?
We know school love our schoolbus drivers out there taking
care of kids, making surethey're safe, all that stuff.
But they we know they're not thehighest paid people on the
(22:06):
planet, right?
They do it most likely becausethey they love it, or there's
some other motivating factor forthem besides the financial gain
of being a school bus driver.
But he brought this up to them,kind of did the third party ask.
And this individual had over$200,000 that they were getting
a mediocre return on.
And uh, yeah, I would love toget to a deal with you and get
(22:28):
10%.
So again, just don't assume,don't judge the book by the
cover, as they say out there.
And you know, just talk to a lotof different people about what
you're up to.
Another thing that we share onthis podcast every time is like,
hey, share this episode withpeople.
You know, if you get some valueout of it.
And again, it's not necessarilyit is for all, we definitely
want more people listening toit.
(22:49):
It helps us build the audience,right?
That's the whole reason we dothis.
Um, but being completely honestwith you, it helps you out just
as much as it helps us becauseif you are trying to raise
private capital, people nowrealize you are into you're
learning, you're you're you'reself-educating about real estate
investing.
And so they're gonna yourcredibility is naturally gonna
build by the by you sharingnuggets you're learning or
(23:11):
different things that you'redoing, along with clips of this
episode or the entire episode.
And um, and then that you don'thave to just share this, but
social media is a great way tojust continue to build that
awareness that you're in realestate.
So when you do need some capitaland you go ask them, they're not
like, oh dude, I didn't know youwere doing real estate, right?
When did you start that?
(23:32):
You know, like they're gonna be,oh yeah, I saw you've been, you
know, learning about real estatefor a while or whatever the case
is.
So you can do it at any stage.
If you're just starting out,just start sharing the episodes
and let people know what you'relearning.
And if you've been doing it awhile, you know, share the
episodes, but then also sharesome of the things you're doing,
some of the deals you're doing,some of the successes, some of
the losses, all that kind ofstuff.
(23:53):
And people will be attracted tothat and you'll build your
credibility and trust over thelong haul.
Okay, so those are some two ofmy favorite sources of capital.
The other source I love iscommercial lending.
Okay, so I'm gonna get into whatis commercial lending.
Community banks is another wayto think about it.
So this is not Wells Fargo orChase Bank or some of the big
(24:15):
boys, okay?
These are small local communitybanks, typically speaking.
All right.
And again, we've got a bunch oflenders here.
You can go on our website ifyou're not on our buyer's list
yet, get added to the buyer'slist, and then usually Connor or
Reese from our team will have aconversation with you and uh
help you get set up with some ofthese folks.
But um, the reason I lovecommunity banks is because if
(24:37):
you have, say, a HELOC orprivate money, they will
typically be your best interestrate and terms, and they can
usually turn it around prettyquickly.
They're like common senselending options.
Okay.
So what I mean by that is if yougo to the big boxes, right,
they're gonna sell a lot ofthese loans off on the secondary
market.
And if that's foreign languageto you, it was to me for a very
(24:59):
long time.
But just know basically theyhave to have a product that fits
within a box that they can thengo to investors on Wall Street
and say, here, buy 10,000 ofthese products that all fit
within this box that you havedesignated that you want.
Okay.
Now, if you're an investor andyou're like, well, man, my
credit's not great, or I've gota lot of cash, but I have no
(25:21):
experience in real estate, and Idon't have a W-2, I'm a business
owner, right?
You're not in the box.
Okay.
You've got some othercircumstance going on outside of
that box.
Commercial lenders, a lot oftimes, are relationship-based.
Like they're gonna want to getto know you, your story, your
goals, your credibility, howyou're gonna keep their capital
safe.
(25:41):
Like it's much more like a jobinterview uh when you're trying
to get capital from a commercialbank or community bank than it
is about fitting inside of WallStreet's box.
Okay.
So I encourage everybody if youare serious about growing a
portfolio or doing more than aflip, you're gonna want to have
relationships with communitybanks.
(26:03):
All right.
And the more relationships youcan have, generally speaking,
the better.
And here's why community banks,number one, uh, the benefits of
them, they're gonna be cheaperrates than a lot of other places
you can get.
Okay.
They're gonna have some prettyinteresting terms and creative
things you can do.
So let's say you have a dealthat requires, you know, some
some creativity.
(26:24):
Okay, you can present that toyour relationship at the
community bank.
And if it makes sense, they'llprobably do it, right?
If they feel like, hey, we'regonna keep our capital safe by
doing this deal, we trust thisperson.
It's pretty similar to privatemoney in that sense.
They will lend to you, okay.
Um and again, they can they canrefinance, they can finance you
(26:44):
for the long term too.
Like a lot of private money,you're gonna have to pay back
either short-term private moneyloans or you know, usually
people want their money backwithin five years, I've seen in
the private money world.
Sometimes you can get get peoplewho just want to keep it running
on on deals, but the communitybanks typically they'll want to
keep keep that money going.
That's their job, right?
So, in the community bank space,a couple things to be aware of
(27:07):
amortization schedules.
Okay, so this is somethingyou're gonna want to ask them
about.
Most community banks are gonnabe 20-year amortization
schedules.
That means if you're trying todo a rental in this market, it's
a little tougher to get cashflow if you're on a 20-year
amortization schedule becauseyour monthly payment's gonna be
bigger.
Now you're paying a lot moreprincipal off, which is great.
You're building a lot moreequity, a lot more wealth that
(27:29):
way, but your cash flow is notgonna be awesome.
So if you don't have a cashmachine, as Jimmy, my buddy
Jimmy Vreland talked about onone of the episodes a while
back, uh, you're gonna want tobe careful with 20-year AMS
because your cash flow is gonnabe tight, and you need to have a
nice little bucket of cash overhere in case you got to fix
something out of the blue andcover that on a rental property.
(27:50):
All right.
Or that's why we talk abouthaving that HELOC there.
That's a nice little safety net.
All right.
The uh the other thing, 25 year,obviously you're stretching your
payments out a little longer,less principal.
And then there are somecommunity banks and credit
unions that'll do 30 year.
Now, notice earlier I didn't saycredit unions are a great
option.
I know some people out therelove credit unions, they work
(28:10):
with them all the time.
If you have more stabilizedproperties, meaning like you're
buying more of like a turnkeytype of thing, it's not a value
add, it's not going to need alot of rehab, that type of
thing, credit union, greatoption.
Okay.
Um, you've had a property now,let's say it was seller
financed.
Uh, I actually have a triplexrate like this right now.
Got it on seller financing withvery little money down.
(28:33):
We fixed it up over the year.
It's now um fully rented up,stabilized, all that sort of
stuff.
And I've owned it for over ayear.
I've been shopping it to somecredit unions to try to
refinance my seller finance outof because my interest rate
isn't as awesome as it was whenI first did this.
Uh, but anything less than that,they typically are gonna want
(28:54):
some kind of seasoning period.
Six months is probably theshortest you're gonna see from a
credit union.
12 months is more likely.
And what that means is they wantyou to have that property owned
in your name or your LLC's namefor that length of time to
season the title.
All right.
Why?
I don't know.
I could ask somebody out of acredit union, I never have.
But a lot of them, that's theirrule.
(29:14):
They're usually a little bitmore conservative than your
community banks.
All right, they're gonna have alittle box that their credit
union wants it to fit in.
But when you have a morestabilized property, those
credit unions are typicallygonna be able to offer you
longer amortization schedulesand better interest rates.
So that's something to consider.
So they're a good tool to havein the tool belt.
(29:36):
I keep them in there more forstabilized longer-term stuff.
I'm not gonna use them onsomething short-term typically,
but um uh they're a good toolfor longer-term cash flow type
of situations.
Okay.
Back to the community banks.
Okay.
So again, you're gonna want tobuild some credibility with
these guys and gals.
You're gonna want to maintainrelationships and you're gonna
(29:58):
want to have a lot of differentoptions for community banks
because they all have a littlebit of a different um setup.
Okay.
Some of them are gonna do, likeI said, 80% of the after repair
value.
That's usually reserved for moreexperienced investors in this
market or people who they have alonger-term relationship with or
have deposits with.
So this is something else tothink about too.
(30:19):
If you have some cash sittingaround or you have a rental LLC
that you're gonna put some ofthose loans over there with that
community bank, you may want tothink about opening up a bank
account with them or a checkingaccount and have some money
flowing in and out of therebecause that will that will
typically bode well for thesecommunity banks because they
rely on um people bringing.
Bringing deposits so that theycan continue to service those
(30:41):
loans because a lot of timesthey service these loans
in-house.
Okay.
Um, what else about communitybanks?
Yeah, they they're greatpartners.
That's all I gotta say.
Cheaper money.
A lot of times you can stretchout those amortizations and um
and do some tech some somecreative things.
Okay.
Now we'll get into hard moneyloans, and this is probably the
(31:01):
last one I'll talk about.
All right, and then again,there's other options out there
we won't get into today, butwe're covering the main ones
here.
So hard money loans, these aretypically gonna be more
expensive loans, but there's somuch convenience with them.
And what I mean by that is umthere's a couple hard money
lenders locally that werecommend.
(31:22):
And again, if you fill out thatform and get on our list, we'll
definitely get you connected tothem.
But they will lend off of theafter repair value as well.
Now they're gonna be a littlebit lower than some of the
community banks we described asfar as the percentage.
So they'll lend 65% of thatafter repair value.
So that means if you think thathouse is gonna be worth$100,000
when it's all said and done, iteveryone's a little different.
(31:44):
But in some cases, you're gonnaget them the comparables, you're
gonna justify the$100,000 afterrepair value, and they will say,
great, we will lend you up to65% of that.
Okay.
Now, the really cool part aboutthis is sometimes speed is what
allows you to get some reallygood deals.
If you have these guys set upand you're pre-approved with
hard money lenders, and asmoking deal comes up, but it's
(32:06):
got to close in two weeks.
Let's say you didn't have thecash, you didn't follow my
advice, and you didn't get thatHELOC set up, all right, you
don't have any community banksthat can close that quick.
So once in a while you'll getone that can in certain
circumstances, but it's prettyrare.
Uh, usually a community bank isgonna be 30 to 45 days max that
they can close that thing.
Okay, so they're gonna need alittle longer lead time than
(32:27):
these hard money lenders.
Hard money lenders can close itin like literally hours.
I mean, if you have title doneon it, or if the title title
company can get the title workdone quickly, uh it's a pretty
clean, there's no mortgage,there's no liens, there's
nothing crazy with it.
It's just a matter of runningtheir title search and getting
their underwriter to approve it,they can literally get it done
(32:48):
in like hours.
So having that, think of thepower that you have, even if you
plan to never use hard money,but you have them set up as a
relationship that you can tapinto if needed.
Again, you don't want to pass upa deal just because you didn't
have the financing set up.
So you go out, you do step one,you find some great deals.
Awesome.
(33:09):
If you got no money to buy it,it doesn't matter.
You can find all the great dealsin the world.
If you can't actually doanything with it, you got
nothing.
So for those people out therethat are listening to this,
they're like, man, I got cash upthe wazoo.
You know, I don't I don't needany hard money.
I'm not paying those expensivefees and all this other stuff.
Well, it's a lot more expensiveto miss out on a great deal.
(33:30):
I'll tell you that right now.
So you're gonna want to havethat hard money lender set up,
even if it's just set up as anemergency backup option.
You know, I keep myrelationships with my hard money
lender set up.
I maybe we'll do one or two ayear on a hard money loan.
Um, but it's awesome to have itthere, you know.
Like we've had some situationsas wholesalers where we have the
(33:52):
relationship with the seller.
We have a responsibility to makesure that if we give that seller
the green light, that we're goodto go, that we're good to go.
We're gonna close that thing.
And we've unfortunately had afew situations over the years
where the buyer backed out ofthe deal.
Now we got their earnest money,great, but it still doesn't
cover some of these costs thatwould incur with hard money, but
(34:14):
we have that relationship withthe seller.
We're not gonna let them, we'renot gonna let the seller down if
we give them the green light.
So we've tapped into the hardmoney in those cases.
Two days to close, boom, done,right?
Um, so that is something todefinitely make sure you guys
have as an option.
I know a ton of investors outthere that even though they know
they could get cheaper moneyworking with a community bank,
(34:36):
they would they refuse and theywill strictly work with their
hard money lender because it isso easy and so convenient.
Okay, so again, they're gonna bevery relationship-based in a lot
of cases.
Um, depends on the hard moneylender.
Now, there's some national hardmoney lenders out there.
Those folks, I would say, usewith caution.
Okay, and the reason I say thatis um there is a uh hard
(34:59):
national, I don't I don't thinkthey consider them a hard money
lender, but they considerthemselves a national lender.
And what I mean by that isthey're not like a local
company, okay?
They're bigger company, they'reowned by a board of directors,
and they've got probably tons ofinvestors all over the place
that are putting money in intotheir company, and then their
(35:20):
responsibility is to lend thatout.
All right.
They will make claims like, hey,we can close anything up in two
weeks, no problem, right?
What actually ends up happeningthough, we've noticed when we
have a borrower or a buyer whocomes in and that is their
preferred source of funding.
We we no longer even allow itunless you have one of our
(35:42):
preferred lenders as a backupoption, at least.
Uh, but they will come in, theywill say, Yep, this person, this
bank said this, this, or this.
And as we get into the processwith them and our transaction
coordinators are working withthem, it's just tough.
Like we've had a couple, theywere, they were, oh, we can
close in two weeks.
Yep, this borrower's good to go.
(36:02):
We get into it, it's two weeks,and all of a sudden they're
like, oh, yeah, no, we haven'teven started working on this one
yet.
It's like, we were supposed toclose this thing in two weeks,
and now you guys haven't evenstarted.
So we've had to push closingback.
And then again, we look bad tothe seller because now we're
having to go back on our wordand move closings back and that
sort of thing.
So just be cautious.
My my thing is cautious with whoyou're working with on the hard
(36:24):
money lending thing.
And again, guys, they are goingto be expensive comparatively
speaking to a commercial lender,but they are worth their weight
in gold if you have a good one.
Because again, you do not wantto miss out on a good deal just
because you didn't have anyfinancing set up.
So those are our lenders wetalked about today, guys.
We've got HELOCs.
If you don't have a HELOC set upright now, go get it set up
(36:45):
today.
It takes literally like I thinkthree weeks to get it set up,
maybe max.
Um, you're gonna want to getyour hard money lender set up as
your backup option.
Okay, get that set up rightaway.
Community banks, as manycommunity banks that you can
have conversations with aspossible.
Last thing on the communitybanks, I'll say as well.
If you don't think you'rebankable or you don't think a
(37:07):
community bank would lend to youat this point, that's okay.
Just start the relationship andfind out.
If they tell you, hey man, wecan't we can't borrow to you
right now, great.
Well, what could I do to be morebankable for you or make you
feel more comfortable?
And then maybe it's somethingyou got to work on for six
months.
Come back to them in six monthsand and have that conversation
again, keeping thatrelationship.
(37:27):
Okay, so community banks andthen those private money
lenders.
All right, those are our fourmain buckets.
Again, we talk about some otherbuckets in the course, but I
don't want to I don't want todrag it down too much with some
of the other nuanced ones.
These are the main ones I seeday in and day out and the deals
that we're doing uh withborrowers.
We'll do over 200 deals thisyear.
The majority of the people thatare buying the deals from us,
(37:51):
they're either using cash, hardmoney, commercial lending, or
private money.
That's it.
That's the majority of thepeople that we're working with.
Okay, so go out there, go findsome cash.
All right.
If we can be of any help here atWisconsin Discount Properties
and the Wisconsin InvestorPodcast, please let us know.
And again, contact me.
(38:11):
You can email me, corey atiby.com, or you can hit me up on
Facebook and um message me.
I don't really go on my actualFacebook page very much, uh, but
if you message me, I still willget that in my messenger app.
So hit me up there if I cananswer any questions for you or
help you.
And then just a reminder, guys,as I wrap this up, if there is
(38:34):
something you would want me orour team to bring to you guys to
discuss on the uh Zooms, and ifthat would be of interest to
you, please message us.
Let us know if there's anythingyou want us to break down,
anything in specific that'shanging you up that we can try
to get on and educate you andanybody else that's if because
(38:54):
chances are if you're runninginto it, somebody else is as
well.
But we would want to make those,if we're gonna do them, I'm
gonna take some time out of myschedule and away from the
family.
I want to make sure it's themost impactful thing I can
possibly do for you guys outthere listening.
So I really do want yourfeedback.
Please send that over.
And again, if you guys got somevalue out of this episode or any
other episode, guys, we reallywant to get those reviews up.
(39:14):
We're at episode 60.
I think I saw on Apple we'veonly got like 15 maybe reviews
on there.
So I would love to get that to60.
So if you can help us out withthat, you're you would that
would mean the world to me.
You just go scroll down and goto the show, scroll all the way
down, I believe.
And then there's a spot thatsays rate and write a review.
Just do that on there.
(39:35):
And then if you're checking thisout on YouTube, subscribers
means a lot to us.
So if you can just hit the oldsubscribe notification button
there and then comment on any ofthese videos.
Again, that those thatinteraction really helps us as
well.
So, with that, guys, I will wrapit here.
I hope you guys are all havingan awesome week.
I hope this has been helpful,and we will see you guys on the
next episode.
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