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Building Cash Flow as a Private Lender: What it takes with Ian Walsh
Investing with Taylor: www.investwithtaylor.com
Stessa to manage your property: https://stessa.sjv.io/c/2425882/1152983/14113
Ian shares his insights on how to analyze deals, work with borrowers, and navigate uncertain markets. He emphasizes the importance of patience and caution in the current market conditions and advises potential lenders to wait for the right time to enter the lending space.
Ian also highlights the significance of due diligence, effective communication with borrowers, and the importance of keeping an open line of communication to avoid foreclosure situations.
Key Takeaways:
Private money lending and hard money lending are becoming synonymous in the industry, with private money lenders focusing on asset-driven lending and providing quick and easy financing options.
The lending market has been impacted by increasing interest rates, leading to the closure of many low-rate lenders. Private lenders who rely on volume and lower pricing margins have faced challenges due to the decrease in housing inventory and buyers.
Potential lenders should exercise caution and patience in the current market conditions. It is advisable to wait for the market to stabilize and start rising again before entering the lending space.
Due diligence is crucial in analyzing deals, understanding repair budgets, and assessing borrower credibility. Experience and a deep understanding of the market are essential in making accurate assessments.
Notable Quotes:
"A rising market will make everyone look smart and make a lot of people think they're smarter than they are. It's best to remain humble and always think that the next six months the market's going to crash when you're a lender." - Ian Walsh
"You can feel all that in a conversation. So I see that, right? And then all of a sudden I'll see something like, man, I'm sensing this person is not really sure what they're doing, bang, they send me over numbers like, hey, this house needs 30,000 in repairs to break it worth $350,000 or $400,000. And I'm going, no, without even batting an eye, it's a $100,000 repair budget. And I just know that." - Ian Walsh
Resources:
Ian Walsh's email: [email protected]
Hard Money Bankers website: hardmoneybankers.com
View all episodes
By Taylor The InvestorInvesting with Taylor: www.investwithtaylor.com
Stessa to manage your property: https://stessa.sjv.io/c/2425882/1152983/14113
Ian shares his insights on how to analyze deals, work with borrowers, and navigate uncertain markets. He emphasizes the importance of patience and caution in the current market conditions and advises potential lenders to wait for the right time to enter the lending space.
Ian also highlights the significance of due diligence, effective communication with borrowers, and the importance of keeping an open line of communication to avoid foreclosure situations.
Key Takeaways:
Private money lending and hard money lending are becoming synonymous in the industry, with private money lenders focusing on asset-driven lending and providing quick and easy financing options.
The lending market has been impacted by increasing interest rates, leading to the closure of many low-rate lenders. Private lenders who rely on volume and lower pricing margins have faced challenges due to the decrease in housing inventory and buyers.
Potential lenders should exercise caution and patience in the current market conditions. It is advisable to wait for the market to stabilize and start rising again before entering the lending space.
Due diligence is crucial in analyzing deals, understanding repair budgets, and assessing borrower credibility. Experience and a deep understanding of the market are essential in making accurate assessments.
Notable Quotes:
"A rising market will make everyone look smart and make a lot of people think they're smarter than they are. It's best to remain humble and always think that the next six months the market's going to crash when you're a lender." - Ian Walsh
"You can feel all that in a conversation. So I see that, right? And then all of a sudden I'll see something like, man, I'm sensing this person is not really sure what they're doing, bang, they send me over numbers like, hey, this house needs 30,000 in repairs to break it worth $350,000 or $400,000. And I'm going, no, without even batting an eye, it's a $100,000 repair budget. And I just know that." - Ian Walsh
Resources:
Ian Walsh's email: [email protected]
Hard Money Bankers website: hardmoneybankers.com