[Download Now] Ron Legrand – Private Lending

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Ron Legrand – Private Lending

Getting money to do real estate deals has nothing to do with going to a bank, filling out an application, putting up down payments or waiting to be approved. Smart investors won’t go near banks that want to control their lives and tell them what they can or can’t borrow.

I had no credit when I started. I did, and it was terrible. I found a mortgage broker who would lend me money based on the equity in the property, not my credit. He would give me 60 percent of its value. My credit was not important. My credit was not of interest to him. The money was easy to get, even though the interest was high. There was no application. There was no approval from the committee. No waiting. Two days after I got an appraisal, the loans closed.

If the house was worth $70,000 after repairs, I knew I could borrow $42,000, so all I had to do was buy it cheap and make sure the loan would cover all my costs. I paid Al ten points for each loan as a broker fee. I learned after doing a few loans that it wasn’t Al’s money I was borrowing.

It was not institutional money. There were no banks allowed. Friends, relatives, and business associates gave it to Al. People who wanted to get a high rate of return on their money. 18% of them were definitely qualified. But that isn’t the only thing. I had to pay the lender six months of extra interest every time I paid off a loan. That is called a prepayment penalty. It’s an ugly price to pay for money. I only borrowed from Al 76 times because I thought so.

It wasn’t the cost of money that was important, it was the availability. I couldn’t pay cash for houses because they were dirt cheap without Al’s money. I could get them fixed and sold quickly with Al’s money. I paid Al 18% and 10 points.

He got his profit and broker fee, the lender got a high return, and I got easy money. It was easy to get money from people I knew and I started asking for it a couple of years later. When I eliminated Al, I got better terms because I had more money available.

I paid 15% interest, three months prepayment penalty and eliminated the 10% brokerage because Al wasn’t the middle man. After getting a mortgage broker’s license, I started loaning money to my real estate investor friends. I was paid a fee.

I am now collecting the same amount of money I used to.

The letter is not about being a mortgage broker. To take advantage of the biggest foreclosure bonanza of our lifetime, you need all the money you can get. The money you find has no middle man making the rules. You make your own rules.

I borrow money from ordinary people the same way I did back then, except the interest rate is 7% and no points are added.

I do not make monthly payments. That is correct. I don’t have to make mortgage payments because of the interest. Imagine what will happen to your cash flow when you have a lease option tenant and start collecting rent with no payments.

I decided to teach my students everything I know about private lending. I held a boot camp for private lending. The boot camp and my Private Lending Home Study course are available for you.

It’s purpose is to help you find private funders for your deals.

If you want to make friends, you should befriend people who aren’t broke.

Now you can be. Just like the banks. Get paid well if you loan out your money. You will learn on the Private Lending Boot Camp Home Study recordings.

I will tell you all the mistakes I have made over the last 24 years as a mortgage broker and save you a lot of grief. The seminars in the School of Hard Knocks are expensive.

If you know how to use IRAs and pension plans, they are a great source of funds. I will show you. There isn’t much you’d want to know about finding and brokering private money that I don’t cover in this course. You will be asking for money, answering objections and closing deals.

There is a complete systems manual with the recordings. It was two years in the making. It has everything you need to become a private lender.

These boot camp recordings are essential for buying and selling houses. If you want to buy junkers, raising money is important. You can run ten miles a day without eating good food. But why?

I am giving away these recordings for less than the retail price. There is a $1,000 discount. The boot camp fee is minimal, but the long- lasting effects will serve you for the rest of your life.

To Your money.

Ron LeGrand is a football player. Millionaire maker.