16 minutes | Oct 5th 2020

PLP-113 The 6 Pillars of Private Lending

The 6 Pillars of Private LendingClick Here to join the Private Lender Podcast Facebook Group

Hello everyone and Greetings from the energy capital of the world – Houston, TX. And welcome to episode 113 of the Private Lender Podcast, I’m your host, Keith Baker and I’d like to thank you for sharing your time with me today.

 

 

If you’re looking for practical tips and advice on Private Lending and how to build and maintain wealth without banks or wall street, then you are in the right place. And if want to put the power of a bank in your retirement account, you should probably pull up a chair. But if you want to learn from my mistakes so you can avoid them, and save yourself thousands of dollars and heartache in the process – well then pour yourself a drink my friend, because this podcast is just for you!

How’s it going Lender Nation? Wow, here we are at the beginning of the fourth quarter 2020, which has been arguably the most bizarre year in recent memory. I hope you are well and that you are doing more than just surviving in this Coronavirus universe that’s filled with pandemic fear, politics, and sensational media coverage because even the Weather Channel had to go really sensational to compete with the shit going down in this great country of ours.

OK, back to drinking – so after you’ve pulled up your chair and had a drink, I want you to set it down on the easy button to beginning your private lending journey.      What’s so great about that?

A seasoned professional lender vets the loans for you, who only lends in their backyard (the greater Houston, TX area). Fun Texas Foreclosure Facts:

  • Non-Judicial
  • 2-3 month process
  • NO redemption period
  • Deficiency Judgements are allowed

Go to PrivateLenderPodcast.com/ink to learn more about how you can hit the easy button and begin your private lending journey by letting Paul and folks at INK Lending vet the loan for you, on a property in a lender-friendly state.

I have a bit of an announcement, or perhaps a re-announcement.

I’m finally stepping into the 21st century – excited to say! After being asked by a few listeners including Steve Hiltabiddle (thank you guys) I am embarrassed to announce that I forgot I had previously created a Facebook group for the Private Lender Podcast but haven’t pushed it forward and have seemingly left it to die. I just admitted a guy who applied 6 weeks ago – that’s my Homer Simpson moment – DOH!

But now I am bringing it back, pushing awareness for the Private Lender Podcast FB Group and hoping you will join me there if you haven’t already. This is a public group but You will need to answer a few questions before being granted access.

However, once you are in you will be in a community of private lenders and other like-minded people, and your popularity is guaranteed to increase immediately. Once your membership is approved you will be able to ask questions, bounce ideas off other lenders, ask for references for service providers, vendors, etc.  And I will be posting more useful things hopefully a little more often – well that’s my plan!

Go to Facebook and search for the Private Lender Podcast group and join

https://www.facebook.com/groups/674936429994760

OK, let’s get down to the brass tacks of episode 113.

In Episode 111 we began building your foundation of successful private lending by discussing the 7 core values, that will help give you a touchstone for when you are uncertain. To give you a place to collect your thoughts when you are in doubt.

Well in this episode we are going to discuss the pillars of private lending. Your decisions will stand on these pillars, which stand upon your core values. Some of you will recognize them in the hashtags on my social media posts.

So let’s get to it

THE 6 PILLARS OF PRIVATE LENDING

Pillar No. 1:    My Money My Terms

Pillar No. 2:    Never Trust, Always Verify

Pillar No. 3:    ROIs

Pillar No. 4:    WIN-WIN-WIN ONLY: Always Full Disclosure

Pillar No. 5:    Never lend to friends or family members in need. Rather give them what you are able to give without the expectation of being paid back

Pillar No. 6:    Honor the contract, but DO NOT hesitate to begin foreclosure. It can be easily stopped in case the borrower makes good

Well, that’s gonna do it for Episode 113, so let’s quickly recap the components of your private lending foundation:

The Core Values:

1 – ROI OF

2 – ROI (Profit) ON

3 – Integrity

4 – Discipline

5 – Creative Initiative

6 – Take responsibility for everything

7 – Always Learn More

 

And upon these values stand the following pillars of private lending:

 

Pillar No. 1:    My Money My Terms

Pillar No. 2:    Never Trust, Always Verify

Pillar No. 3:    ROIs

Pillar No. 4:    WIN-WIN-WIN ONLY: Always Full Disclosure

Pillar No. 5:    Never lend to friends or family in need.

 

Remember: If you want to lend money the easy way, go to PrivateLenderPodcast.com/ink to learn more.

 

And join the Private Lender Podcast Facebook group to connect, learn, receive encouragement and inspiration, and to get into the discussions

Click here to join the Private Lender Podcast Facebook Group

I don’t charge money for this show, but there is a cost and I would be extremely grateful if you would help drive awareness to the show, to get the word out by leaving me an honest rating and review over at iTunes, Google Podcast or whatever platform you are using to hear my voice. That is a fast and simple task, and a small price for the value you heard here today. And that’s the truth – I mean you have the foundation laid out in front of you!

And if you are looking to create your stable of private lenders, or know people who have money but don’t realize the power of private lending, please, please send them a text, an email, a DM, and introduce them to the PLP.

 

Besides self-awareness, I wish you safe and successful Private Lending.

 

I’ll catch you on the next episode.

-k