So I'm retired and sitting on a bunch of 401K money and I have a friend who for years makes money buying residential properties and fixing them up and flipping them, doing a lot of the work himself. He asked if I wanted to go in with him on investing in and renovating a property not far from where I live, which he can't quite pull off with what he has in hand to spend at the moment. I right away realized I did not want to get involved in managing the actual renovation of a property, and I was the one who suggested I could loan him the money he needed to purchase the property. He happily agreed and then after that talk I got nervous as heck and starting researching on the web. Came across this book which lays out what I need to do to properly evaluate risks and potential gains, and to proceed with formalizing a loan wherein things are Kosher and I am protected. My friend was all for it too actually when I told him what I wanted to do based on a quick read of this text. One thing that attracts me about this type of investment - the fact that it's real property that I can see and evaluate, and its improvement provides people with better places to live, and improves the whole neighborhood, in the city where I live. Somehow that's more meaningful to me than a piece of paper that is a stock certificate or bond etc.
Mr. Levin's book was very insightful to the private lending industry. He provided step by step, along with possible pitfalls to avoid, using real-world examples. His detailed perspective is beneficial to anyone interested in investing in real estate. Not only did he provide an excellent "roadmap" but the "roadmap" was easy to navigate, no need for professional Nascar driver here!Get the book today!
This book was particularly helpful when learning about obtaining a loan. I purchased this book to understand loans from the borrower's perspective. It gives clear, concise information from the author, who has expertise in this field.
The process of getting a loan is challenging and time-consuming. Individual borrowers and small businesses face a gap in accessing capital. Jeff's book shares his insights on the role that private lending can play to help fill this gap. The book is easy to understand and offers lessons that can only be learned through the experiences he has had. This is a great read to better understand the role of private lending. -- Keith Catanzano, Partner, 2River Consulting Group