All Forum Posts by: Jonathan Warner

Quote from @Jonathan Warner:

Quote from @Chris Seveney:

Quote from @Jonathan Warner:

Hello all. I’ve been self-educating  about real estate for about 4 months now. I’m starting to lean more towards private lending as a way to get my toes wet and get my money working for me in a relatively stable way.

I’m looking for educational resources or literature. Any help would be greatly appreciated. 

 Lend2Live written by @Beth Johnson and her FB group is a great place as well to get information. Also  American association of private lenders is one trade group,

Thanks for the response, Chris. I’m reading Lend to Live right now actually. Seems like a great book but would like to find another book or two on the subject. Even if it’s something tertiary to the subject of lending I’d be happy to give it a read.

Im looking for her FB group and can’t find it. What’s the name of it?

Lend2Live: A Private Lender Collaborative | Facebook

Good resource to get started is The Banker's Code by George Antone. It's a detailed perspective on how private lending works, with practical strategies for building wealth through this niche. The book is useful for understanding how to structure deals, assess risks, and think like a lender, rather than just an investor.

Pair this with engaging in forums like this one and attending local meetups to put what you learn into practice. If you’re serious about private lending, this book is a great way to sharpen your skills and make smarter decisions.

Good luck, and feel free to reach out!

Best regards, Stevan

Quote from @Jonathan Warner:

Hello all. I’ve been self-educating  about real estate for about 4 months now. I’m starting to lean more towards private lending as a way to get my toes wet and get my money working for me in a relatively stable way.

I’m looking for educational resources or literature. Any help would be greatly appreciated. 

 Lend2Live written by @Beth Johnson and her FB group is a great place as well to get information. Also  American association of private lenders is one trade group,

Quote from @Jonathan Warner:

Quote from @Dan H.:

1) cannot qualify for traditional financing

2) fears appraisal will come in low

3) fears buyer will back out so reduces contingency options

note for cash purchase I expect a significant discount.   Is the property priced appropriate for a purchase that does not permit financing?

Good luck

It’s listed for $220,000 and on has been on the market for 1,300 days. Is be happy to send it to you in DM if you have the time to offer any wisdom! 

1,300 days! That’s 3.5 years meaning it didn’t sell when the market was at its hottest. Sounds like an unreasonable seller and the most likely reason for them not wanting an offer with a financing contingency is the property is in too rough shape to get financing on it (structural damage, fire damage, etc.) or won’t appraise anywhere near asking price.  

1) cannot qualify for traditional financing

2) fears appraisal will come in low

3) fears buyer will back out so reduces contingency options

note for cash purchase I expect a significant discount.   Is the property priced appropriate for a purchase that does not permit financing?

Good luck

This seller feels like he has a good position to turn down people who need to finance. If you are in that boat, nothing is stopping you from making an offer with a financing contingency. You'll have to make your offer appealing in some other way. Look for how long this place has been on the market. Longer times mean he is more likely to deal with you.

Cash buyers will be serious, not just wasting his time with offers, 30-45 day closing delay, inspections, appraisals.  If title is clean, a cash deal can close in 7-14 days.

Real Estate Wholsaling bible by Than Merrill

The classic, Rich Dad, Poor Dad

Buy Back Your Time - Dan Martel