The reason we love hard money lending is that it fills a niche. And when you fill a niche, you’re entering a business with limited competition. Bill Fairman is going to share the secret sauce, where you’re working with larger companies instead of competing with their rates. This is exactly what Bill and his company Carolina Hard Money did. They stayed to their roots, found a niche, and leveraged the resources of the big players. Not every recipe is going to be perfect. Some lenders have found niches to fund loans that most traditional banks don’t or can’t fund. There’s always that possibility. There are lots of opportunities out there, you have to be a little bit creative. In this episode, we get creative with Bill as he breaks down the possibilities of the lending niche with Big Mike.
HIGHLIGHTS OF THE EPISODE
01:47 – Pros and cons of owning and lending
04:02 – Managing loans with supply chain issues
08:26 – All about competitive rates with loans
13:38 – What is a pari-passu loan position?
16:10 – Dealing with insurance companies
20:04 – Moving to multifamily and self-storage
23:28 – Details about construction loans
25:13 – The opportunity behind inventory issues
27:35 – Being ahead of the million-pound gorillas
28:50 – https://www.carolinahardmoney.com/
29:12 – Working with the Big Players
31:18 – Being anti-fragile and focus on obstacles
Thank you for joining us in another episode. We are committed to inviting more guests that give value to our real estate journey. Stay tuned for more episodes. To learn more, visit our website at www.tempofunding.com as well as our YouTube channel.
CONNECTING WITH THE GUEST