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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109: From Sleeping in His Car to Multi-Unit Landlord & The "Nomad" Strategy
108: Rookie Reply: How to Make an Offer on a House (Even If It’s Off-Market)
107: 10 Income Streams on 1 Property by “Land Hacking” w/ Kai Andrew
106: Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert
105: Don't Lose Your Portfolio to Lawsuits! Here's How to Protect Yourself
104: Rookie Reply: Do I Need a Lawyer to Evict Tenants?
103: From Restaurant Waiter to 100+ Deals in Only 4 Years w/ Derrick Acuff
102: $10M Profit On Her First Deal?! It's Possible with Campground Investing
101: Campgrounds: The Investment You've (Probably) Never Thought About
100: Why Brandon Turner Encourages Rookies to "Start Small and Scale"
99: Buying a 51-Unit Property with 0% Interest and No Money Down
98: Rookie Reply: Lessons Learned from Our First Real Estate Deals
97: 19 Units in 1 Year and Starting a “Luxury House Hack”
96: Rookie Reply: How Much do Property Managers Charge?
95: Buying Your Next Home with This Often Overlooked 0% Down Loan
94: Rookie Reply: Should I Invest in Real Estate or Pay Off Student Loans?
93: Stop Making Offers! Here’s What to Do Instead with Erik Wright
92: Rookie Reply: How to Fund Rehabs and Renovations
91: 8 Units, 10 Wholesale Deals, and $0 Spent on Marketing w/ @Liliinvests
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