How to Buy Real Estate WITHOUT the Banks (Private Money 101)

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!

~~~~
Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
~~~~
Join the Real Estate Rookie Facebook Group:
https://www.facebook.com/groups/realestaterookie
~~~~
Find an Investor-Friendly Agent in Your Area:
http://biggerpockets.com/agentmatch
~~~~
Find Investor-Friendly Lenders:
http://biggerpockets.com/findlenders
~~~~
Books Mentioned in This Episode:
“Rich Dad Poor Dad”: https://store.biggerpockets.com/products/rich-dad-poor-dad?utm_source=youtube&utm_medium=description&utm_campaign=none
“Raising Private Capital”: https://store.biggerpockets.com/products/raising-private-capital-revised-edition?utm_source=owned_media
~~~~
Get Tips, Advice, & Support in the BiggerPockets Forums:
https://www.biggerpockets.com/forums?utm_source=owned_media
~~~~
Rookie Podcast 275 - From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!):
https://www.biggerpockets.com/blog/rookie-275?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
BiggerPockets Podcast 334 - Using Other People’s Money to Fund Flips, Multifamily, & Self-Storage Deals With Ben Lapidus:
https://www.biggerpockets.com/blog/biggerpockets-podcast-334-peoples-money-flips-multifamily-self-storage-deals?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Connect with Darnell:
BiggerPockets: https://www.biggerpockets.com/users/darnelll5?utm_source=youtube&utm_medium=description&utm_campaign=none
Facebook: https://www.facebook.com/darnell.leslie.5
Instagram: @Darnelljamar2_ or https://www.instagram.com/darnelljamar2_/
LinkedIn: https://www.linkedin.com/in/darnellleslie/
~~~~
Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or https://www.instagram.com/wealthfromrentals/
Tony: @tonyjrobinson or https://www.instagram.com/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!