Today’s guest comes from a slightly different perspective to the guests we usually have on the show. Although she does get involved in syndications and passive investments, Alex Breshears is first and foremost a private lender. This means she essentially acts as a bank from which people can borrow money for certain types of real estate investments. Alex explains the two main criteria for borrowing from a private lender, the process that she goes through to determine whether or not she is going to lend money to the potential clients who approach her, how to avoid being duped by one of the most common scams in the private lending sector, the flexibility that being a private lender offers you, and how she is helping other people adopt an abundance mindset which is one of the elements she believes is key to success. Transparency and integrity are at the core of the business philosophy that Alex has adopted on her journey of investing passively to live actively, and we hope this episode leaves you feeling inspired to go after what you want!
Key Points From This Episode:
- How marrying the military changed Alex’s life.
- What Alex and her husband figured out after attempting active investing.
- Alex’s experience of working in a broker’s office.
- A chance Zoom meeting which altered the course of Alex’s career.
- An explanation of what underwriting is, and who usually does it.
- How the process of borrowing money from a private lender works.
- Alex explains what the biggest scam is in the private lending sector, and a tip for how to avoid it.
- The two main criteria for private lending.
- Flexibility that exists within the private lending sector.
- What a standard private lending deal looks like.
- Judicial foreclosure states versus non judicial foreclosure states, and what this difference means for private lenders.
- How traditional private lending differs from syndication.
- The way that Alex vets her potential clients.
- Transparency and integrity are key parts of Alex’s philosophy.
- Differences between passive investing and private lending, and why Alex does both.
- Alex’s morning routine, her book recommendations, and the best thing she has learned from the mastermind program she is a part of.
- Why Alex will never have a long-term rental again.
- The importance of having an abundance mindset, as opposed to a scarcity mindset.
- “That I get to do what I want when I want,” is Alex’s definition of success.
- Hear about the Facebook group that Alex started.
Links Mentioned in Today’s Episode: