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!
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Join the Real Estate Rookie Facebook Group:
/ realestaterookie
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Find an InvestorFriendly Agent in Your Area:
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Find InvestorFriendly Lenders:
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Books Mentioned in This Episode:
“Rich Dad Poor Dad”: https://store.biggerpockets.com/produ...
“Raising Private Capital”: https://store.biggerpockets.com/produ...
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Get Tips, Advice, & Support in the BiggerPockets Forums:
https://www.biggerpockets.com/forums?...
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Rookie Podcast 275 From $40K Debt to 4 Doors and SixFigure Net Worth (In 1 Year!):
https://www.biggerpockets.com/blog/ro...
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BiggerPockets Podcast 334 Using Other People’s Money to Fund Flips, Multifamily, & SelfStorage Deals With Ben Lapidus:
https://www.biggerpockets.com/blog/bi...
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Connect with Darnell:
BiggerPockets: https://www.biggerpockets.com/users/d...
Facebook: / darnell.leslie.5
Instagram: @Darnelljamar2_ or / darnelljamar2_
LinkedIn: / darnellleslie
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/e...
Tony: https://www.biggerpockets.com/users/t...
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or / wealthfromrentals
Tony: @tonyjrobinson or / tonyjrobinson
Show notes at: https://link.chtbl.com/Rookie
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!