{"id":125,"date":"2009-11-22T17:51:56","date_gmt":"2009-11-23T00:51:56","guid":{"rendered":"http:\/\/privatemoneysource.com\/blog\/?p=125"},"modified":"2009-11-22T17:51:56","modified_gmt":"2009-11-23T00:51:56","slug":"private-money-through-the-looking-glass","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/blog\/?p=125","title":{"rendered":"Private money through the looking glass"},"content":{"rendered":"

Clay Sparkman<\/em><\/p>\n

First off, I\u2019d like to point you to a list of 37 private money investment tips posted by Brad Evans of Brad Evans Real Estate Loans.\u00a0 This list has been circulating on the net for quite a few years now.\u00a0 It is one of the more thoughtful comprehensive items that I have come across and so I thought I would share it with you.\u00a0 Though I agree with a lot of what Brad has to say, I don\u2019t agree with all of it.\u00a0 I will utilize a future post to give my own input\/comments on each of the points given on Brad\u2019s list.<\/p>\n

http:\/\/www.bradevans.com\/37pointchecklist.html<\/a><\/p>\n

For today\u2019s post, I spent some time looking at You-tube videos that came up under a search of \u201cprivate money lending\u201d.\u00a0 To the negative, as with content in general regarding private money investing, I didn\u2019t (yet) find a whole lot of substance in these videos for the most part.\u00a0 However, to the plus side, I have to say that I really had a good time with this.\u00a0 There is some very interesting and entertaining stuff out there.\u00a0 And I find it quite useful to see what people are saying about private money: how it works and how to obtain it in particular.\u00a0 When I have more time I\u2019m going to go much deeper as I just really scratched the surface.<\/p>\n

At any rate, here is a representative cross section of what I found out there in cyber-video-landia.<\/p>\n

On making massive montly income<\/span><\/p>\n

Our narrator is a representative of http:\/\/www.askaexpertwholesaler.com\/<\/a>.\u00a0 I went to the homepage but didn\u2019t actually enter because you have to enter your e-mail address (and I wasn’t so inclined), but the entry page compels with the question, \u201cWho Else Wants to Discover the Astonishing Secrets of How to Make Massive Monthly Income with Real Estate in 2008 By Asking an Expert Wholesaler\u201d<\/p>\n

This is one in a series of \u201cquick tips\u201d to real estate investors on how to find private money lenders<\/p>\n

<\/strong>http:\/\/www.youtube.com\/watch?v=0-frYFdYJw4<\/a><\/p>\n

My comment:<\/strong> It\u2019s hard to argue with \u201crun your mouth.\u201d<\/p>\n

The discovery of iced coffee<\/span><\/p>\n

Patrick Riddle of http:\/\/www.privatemoneyblueprint.com<\/a> on \u201cHow to Convert Wannabe REIs into Private Money Lenders.\u201d<\/p>\n

http:\/\/www.youtube.com\/watch?v=B2VfCnCgibM<\/a><\/p>\n

My comment:<\/strong> I love this guy.\u00a0 He has a bunch of videos out there and I wanted to watch every one of them.\u00a0 He definitely has a certain charisma that keeps you watching.\u00a0 Will his plan work?\u00a0 Maybe one time in ten thousand, I suspect.\u00a0 Most of the people who attend those meetings haven\u2019t made their fortune yet\u2014and don\u2019t really have cash to invest.\u00a0 And hey, that is just a tough road to go down anyway.\u00a0 I don\u2019t try to sell anyone on trust deed investing, but if I did, it certainly wouldn\u2019t be the inexperienced, uneducated, and uninitiated.\u00a0 There is too much to know before you can be ready for this kind of investing.\u00a0 At any rate, I\u2019m glad Patrick discovered iced coffee.<\/p>\n

How to avoid talking to investors about the things you need to talk to investors about<\/span><\/p>\n

Here is another one from Patrick Riddle at http:\/\/www.privatemoneyblueprint.com<\/a> called \u201cHow to explain the “Worst Case Scenario” to a Private Money Lending Prospect.\u201d<\/p>\n

http:\/\/www.youtube.com\/watch?v=Ps0Cv6QSC18<\/a><\/p>\n

My comment:<\/strong> Okay, this one somewhat disturbs me.\u00a0 It might be more appropriately titled, \u201cHow to avoid talking to investors about the things you need to talk to investors about.\u201d\u00a0 I do like his description of the workout process.\u00a0 Basically:\u00a0 You are a lender and then you become an owner and we all live happily ever after.\u00a0 I guess he didn\u2019t want to muck up the conversation with tedious details like how to choose between a judicial foreclosure and a non-judicial foreclosure, what happens if the borrower contests a judicial foreclosure, the potential impact of a bankruptcy, taking back a property that is distressed or an unfinished project, the potential impact of market changes and\/or a protracted foreclosure process on your equity position, how to go about marketing the property, and how to obtain and collect on a deficiency judgment, if need be in order to fully recover.<\/p>\n

Would you like to vacation in paradise?<\/span><\/p>\n

This is Cash Money Quick\u2019s (http:\/\/www.CashMoneyQuick.com<\/a>) video ad for a \u201cNew FREE Ebook – How to Find MILLIONS in Private Money.\u201d<\/p>\n

http:\/\/www.youtube.com\/watch?v=Sua7AqOzgCA<\/a><\/p>\n

My comment:<\/strong> Well I haven\u2019t read the e-book, but the guy comes off nice enough and I like the palm tree in the background, suggestive of \u2026 long tropical vacations perhaps?<\/p>\n

On drawing legal documents like a real attorney<\/span><\/p>\n

Dmitry Mikhaylov (http:\/\/www.komelot.com<\/a>) putting on a boot-camp, Attorney at Low, on how to prepare private money lenders documents.\u00a0 \u201cFind out from attorney what documents you will need to get Private money lenders money for your real estate needs.\u201d<\/p>\n

http:\/\/www.youtube.com\/watch?v=MBFcGD7LSbI<\/a><\/p>\n

My comment:<\/strong> I like the \u201cAttorney at Low\u201d part.\u00a0 There might be just a little bit more to the document process, but you get the general idea.<\/p>\n

On self-directed IRAs<\/span><\/p>\n

Self-Directed IRA’s are explained by Trent Dalrymple, Director of Investor Relations at Metro Mortgage Investments LLC, a private mortgage lender in Huntington Woods, Michigan. More info at www.metro-mi.com<\/a><\/p>\n

http:\/\/www.youtube.com\/watch?v=jrdBlOU7nZA<\/a><\/p>\n

My comment:<\/strong> This one I actually thought was quite good.\u00a0 I have no wise-guy remarks.<\/p>\n

Am I still in the real estate lending section?<\/span><\/p>\n

This is an ad, for what I\u2019m not sure but I enjoyed it.\u00a0 The YouTube text states:\u00a0 \u201cGet private money, cash loans from lenders. Private individuals have money to give away today. Online. Instant cash now. Bad Credit ok. Lenders MUST give away cash now. Hurry. Money for real estat…\u201d<\/p>\n

http:\/\/www.youtube.com\/watch?v=WIAUVgMRUnE<\/a><\/p>\n

My comment:<\/strong> Va va voom!<\/p>\n

Subliminal advertising<\/span><\/p>\n

This is another ad:\u00a0 \u201cEASY LOAN TO BUY FORECLOSURES Hard Money can be a quick way to fund everything from residential property, to industrial facilities to new home construction.\u201d<\/p>\n

http:\/\/www.youtube.com\/watch?v=rjsMc3ExY2M<\/a><\/p>\n

My comment:<\/strong> Did you notice the subtly placed images of cash and money–almost subliminal.\u00a0 You might want to play it back again in slow motion.<\/p>\n

And thus concludes your private money through the looking glass tour for today.\u00a0 I sincerely hope that I have not come off as too terribly condescending.\u00a0 (In general, these videos can\u2019t be easy to do.)\u00a0 I only wish that I could find better resources out there\u2014text, video, and otherwise\u2014that could be helpful to all of us in this complex realm of trust deed and private money investing.\u00a0 And so the search goes on.\u00a0 Please do share whatever you may have, whatever you may know, and whatever you may find.<\/p>\n

— Clay (clay@privatemoneysource.com)<\/p>\n","protected":false},"excerpt":{"rendered":"

Clay Sparkman First off, I\u2019d like to point you to a list of 37 private money investment tips posted by Brad Evans of Brad Evans Real Estate Loans.\u00a0 This list has been circulating on the net for quite a few years now.\u00a0 It is one of the more thoughtful comprehensive items that I have come […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[19,24],"tags":[],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/125"}],"collection":[{"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/125\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}