REI078: Deep Dive into Hard Money Loans w/ Sean Pan

On today’s episode, Robert Leonard chats with Sean Pan to talk about what hard money is, the approval process of such loans, its difference from traditional financing, its common fees, and red flags to avoid in a potential lender, and much, much more. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 07:00 - What hard money is.  08:23 - What the process of being approved for a hard money loan is like and how it differs from traditional financing. 12:44 - What the common fees associated with hard money are and why it can be an expensive option for financing. 27:44 - Where Sean thinks the dynamic between real estate and capital markets is right now. 31:20 - What the most important things to look out for when getting a hard money loan and the major red flags to watch out for in a potential lender. 37:18 - What the most common misconceptions/ myths about hard money from both experienced and inexperienced investors are. 38:10 - What the benefits of investing out of state are. 39:54 - How to find markets to invest in and what to look for exactly. 41:43 - What the hardest part about investing long-distance is. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Get more FREE content from Robert. Sean Pan’s The Everything Real Estate Investing Show. Related Episode: Listen to REI Episode 74: Data-Driven Real Estate Investing with Neal Bawa, or watch the video. Nathan Latka’s book How to Be a Capitalist Without Any Capital. Gary John Bishop’s book Do the Work. All of Robert’s favorite books. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: HelloFresh Fundrise Linkedin Marketing Solutions TurboTax NerdWallet NetSuite Connect with Robert: Website | Instagram Connect with Sean: Instagram | Youtube | Website  Learn more about your ad choices. Visit megaphone.fm/adchoices

Om Podcasten

Millennial Investing by The Investor’s Podcast Network is hosted by Patrick Donley and Kyle Grieve.  Millennial Investing is one of the top-ranked investing podcasts in the world geared to the millennial generation. Here’s what we do: - We have conversations with the world’s best investors, entrepreneurs, authors, and thinkers and explore their ideas, methods, and stories to help YOU better invest your time and money. - Think of us as your research team who finds the most interesting and profitable investing and business insights that you'd normally have to pay for. Except it’s free! - Our mission is to improve people’s financial literacy and business savvy to help in making better investment decisions with their time and money. Start listening. Master the best of what other people have already figured out so you can use their lessons in your life to learn how to invest and build wealth. Follow Patrick on Twitter at @JPatrickDonley, and Kyle on Twitter @IrrationalMrkts.