Podcast: Crazy Sh*t In Real Estate TM

“Honey, is that a fake Russian policeman at the door?” Ryan Walsh, a hard money lender in New Jersey, wasn’t convinced that going into business with his brother was a good idea after hearing this story. Listen in to hear what happens, what did convince Ryan to get in the game, and how a sibling team took lending to the next level. 

Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in  Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription.

Time Stamped Show Notes:

• 00:45 - Introducing Ryan; a hard money lender in New Jersey

• 01:05 - Hard money lenders are like the modern-day, legal, loan sharks

• 02:00 - How it works; they’re like venture capitalists that work in real estate
• 02:55 - Ryan’s CSIRE story

• 03:30 - He is partnered with his brother, who started in property management; 5 years ago his brother wanted him to join his real estate business
• 04:55 - A Russian guy worked with them and tried to pick up a tenants 13-year old daughter; he got fired and came back in a fake Russian police uniform
• 06:30 - He showed up at his brother’s doorstep saying he was owed money; his brother called the police
• 06:45 - His brother later gets a small claims court letter; he goes, tells the story, and they tell his brother to pay the guy half what he thinks he is owed
• 07:45 - This is the story his brother tells him to convince him to join the business

• 08:15 - Another CSIRE story

• 08:20 - Years later, his brother got into lending and had time and freedom; this was attractive to Ryan and he jumped in
• 08:40 - His first deal was a triple Daisy Chain, which is when a property exchanges hands 3 times without any move-ins

• 12:05 - How to reach Ryan: (201)345-1036 ryan@hardmoneybankers.com; they operate from D.C. to New Jersey and have a network anywhere else, too 

3 Key Points

1.)  Hard money lenders are like venture capitalists for real estate. 

2.) Daisy Chains can happen! 

3.) Defend yourself.

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