Amy Farrow is an attorney and real estate investor, making her the right person to discuss how the law works with real estate transactions and how to make sure your business is protected. Matt Hedstrom is the owner of Rehab Estimator Pro, a tool used to let investors virtually tour a house and calculate repair costs. Amy provides consultation and real estate training, while Matt uses his 20 years of real estate experience to help solve every property problem his clients face.
In today’s episode, Amy and Matt discuss the finer details regarding private lending. They share their real estate background, their markets, and their preferred rates when looking for private money. They explain the do’s and don’ts of looking for private money and how to make sure you’re legally covered. They describe why going for hard money will set a new investor on the path to failure. They also answer questions from the audience, from calculating your ideal ARV to the people you should consult for private money transaction advice.
“As the market changes, you have to manage private lender expectations.” – Amy Farrow
On Today’s Episode of Flip Talk:
- Amy and Matt’s professional and real estate background
- The two things you can’t screw up in a deal.
- The right and wrong way to borrow money.
- Their thoughts on newcomers using hard money to fund capital.
- How to make sure both parties are covered in a private money transaction.
- The steps Matt and Amy take when dealing with private lenders.
- Why you should hire professionals to write contracts and titles for you.
- The best time to turn in private money.
- Forming a team when it comes to compliance, regulations, and private lenders.
- The longest they’ve loaned private money.
- Answering audience questions related to ARVs and sourcing private lenders
Connect with Amy Farrow:
Connect with Matt Hedstrom:
- Rehab Estimator Pro
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