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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266: Rookie Reply: Unpermitted Renovations, House Hack Profits, and Frozen Pipes
265: Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow w/Devana Came & Reid Stadelman
264: Rookie Reply: Building vs. Buying and Avoiding Capital Gains on a Sale
263: Rookie to Real Estate Investor: House Offer Accepted! Now What?
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261: How Nancy Rodriguez from 'Love is Blind' Hit Financial Freedom BEFORE Fame
260: Rookie Reply: When Can You Refinance and How to AVOID Taxes on a Home Sale w/Amanda Han
259: No Down Payment? No Problem! Three Creative Financing Options to Consider w/Pooja Jindal
258: Rookie Reply: How to Find Out Who Owns a Property and Direct Mail 101
257: Rookie to Real Estate Investor: Seller Financing, STR Markets, & Lowball Offers
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255: How to (Legally) Avoid Taxes by Investing in Real Estate w/Amanda Han
254: Rookie Reply: Can You Put Offers on Multiple Houses? w/Jake Kain
253: How to Build Your Financial Foundation BEFORE Investing in Real Estate w/Malia Gudenkauf
252.5: How to Buy Your First Rental Property in 11 Steps
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