You want to invest in real estate, but you don’t have the money. Are you out of luck? Good news—money is NOT a dealbreaker. There are several levers you can pull to get the capital you need, and today’s guest is going to share them with you!
Welcome back to the Real Estate Rookie podcast! Shortly after being cut, former professional football player Darnell Leslie was determined to try his hand at real estate investing. There was only one problem: he needed money. But, after convincing some family members to partner with him, Darnell quickly realized that he could use other people’s money to fund ALL of his real estate deals. He started building his network and found private money and hard money lenders, using a polished private capital “pitch” to bring them on board. Over the last few years, he has completed five deals using very little of his own money!
Is money the ONE thing stopping you from buying real estate? In this episode, you’ll learn everything you need to know to start using other people’s money instead. From structuring private money and hard money agreements to buying materials for your renovation projects, Darnell walks you through each step!
In This Episode We Cover:
How Darnell uses other people’s money to fund his real estate deals
How to start raising private money today (tips for new investors!)
Why you MUST have multiple exit strategies when buying property
The private capital “pitch” to help you raise funds for your next investment
How to structure your private money and hard money agreements
The interest-free way to buy materials for your rehab projects
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Get Tips, Advice, & Support in the BiggerPockets Forums
Rookie Podcast 275 - From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!)
BiggerPockets Podcast 334 - Using Other People’s Money to Fund Flips, Multifamily, & Self-Storage Deals With Ben Lapidus
Book Mentioned in the Show
Rich Dad Poor Dad by Robert Kiyosaki
Raising Private Capital by Matt Faircloth
Connect with Darnell:
Darnell's BiggerPockets Profile
Darnell's Facebook
Darnell's Instagram
Darnell's LinkedIn
(00:00) Intro
(01:23) Football Player to Investor
(09:26) The Private Capital “Pitch”
(17:39) Structuring an Agreement
(23:44) Using OPM & Choosing a Strategy
(31:59) How to Find & Analyze Deals
(40:46) Funding Rehab Projects
(50:04) Connect with Darnell!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-396
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
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237: The Cash-Flowing Car Wash and Early Retirement Through Creative Real Estate w/Daniel Schiermeyer
236: Rookie Reply: Creative Financing 101 with No Cash, Credit, or Credentials w/Pace Morby
235: Investing in 100-Year-Old Homes Straight Out of College and the "PRR" Method w/Amy Wright and Mitch Mathern
234: Rookie Reply: You DON'T Need Experience to Invest in Real Estate w/InvestorGirlBritt
233: $1.1M in Real Estate at 21 WITHOUT a W2, Tax Return, or Degree! w/Logan Kohn
232: Double Your Cash Flow Overnight (In ANY Market) with Medium-Term Rentals w/Sarah Weaver and Zeona McIntyre
231: Semi-Retired at 30 Thanks to One Year’s Worth of Real Estate Investing w/Jessie Dillion
230: Rookie Reply: The 1% Rule, Turnkey Rentals, and Escrow Accounts Explained w/Zach Lemaster
229: Cashing In On Overlooked Off-Market Deals & Overcoming Analysis Paralysis w/Ryan John
228: Rookie Reply: How to Beat Cash Buyers, Tenant Brawls, and Appraisal Tips
227: The Vice-Principal Who Built a 9-Unit Rental Portfolio on The Weekends w/Mackenzie Grate
226: Rookie Reply: Financing Your First Rental, Leases, and High Interest Rates
225: Tiny Homes, Huge Profits: $6,000 a Month from 1 Property! w/Josiah Hein
224: It’s Not All About Cash Flow: 4 Ways Real Estate Makes You Rich w/Dave Meyer and J Scott
223: Play the Game or Get Played: Using Paternal Instincts to Close on 17 Units w/Nick Troutman
222: Rookie Reply: The One Mistake That Almost Got My House Foreclosed
221: From Corporate Cog to 10-Unit Landlord in Just 2 Years! w/Brandon Rush
220: Rookie Reply: How to Buy Rentals Once You’ve Run Out of Cash
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