Real Estate Investor Huddle
How to Protect Yourself as a Private Lender w/Keith Baker
- Autor: Vários
- Narrador: Vários
- Editor: Podcast
- Duración: 0:45:51
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Sinopsis
Private lending is one of the most effective ways to generate wealth - but it does present some risks, so we need to ensure we protect ourselves. Is it ever a good idea to agree to a loan without paperwork? Who should we be lending to, and should we always evaluate our current financial position before making a deal? On this episode, host of the Private Lender Podcast, Keith Baker shares how we can protect ourselves as private lenders. Takeaways + Tactics Don’t loan anything until paperwork has been signed. Paperwork protects us, and should be drawn up by licensed professionals - we should never try doing this ourselves. Work with people who have skin in the game. Our borrowers should have at least 10% of their own cash in the deal. Avoid taking on second positions. The risk skyrockets with these investments, so wherever possible, stick to first position loans. Guest Bio- Keith Baker is the co-founder of Asset REI, LLC, and the host of the Private Lender Podcast. After learning many lessons the hard