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Podcast: Wholesale Hotline | Brent Daniels
Episode: Why Most Private Money Lenders Lose Money — And How To Avoid It | Subto Show
Description: On today's Wholesale Hotline (Subto Edition), Pace breaks down the keys to lending money.
Show notes — in this episode we'll cover:
Protecting your money as your "life force" is crucial because lending is inherently risky; even with precautions, you should assume the money could be lost.
Structuring loans for maximum protection involves using liens, promissory notes, personal guarantees from all involved parties, and collateral.
Never trust anyone, regardless of reputation or relationship, as emotional attachments or social connections don’t safeguard your investment.
Key lending rules include always using a transaction coordinator (TC), documenting every step, and...