PODCAST
Private Lending | Everything You Wanted to Know
Episode 110:
Ron LeGrand is from humble beginnings, a former auto-mechanic who couldn’t even make ends meet working overtime. He’ll never forget telling his wife again and again that they couldn’t afford a new washing machine when their old one broke. Today, they live in a 7,000 square foot home in Florida. He’s bought and sold over 3,000 homes and commercial properties all over America (using the same System he’ll give you) and he has thousands of people he’s helped and is currently helping to achieve their grandest goals. Here’s his story…
Ron’s been buying “quick-turning” for cash and keeping as investment houses as an independent investor and entrepreneur for 35 years. You can’t do that by random. You can’t do it “hit or miss” or you’d be broke, and he’s not; he’s quite rich. That’s because he has an actual SYSTEM for this that anybody can follow. And just about all business success and wealth is based on SYSTEMS. McDonald’s has a System for efficiently serving food. Southwest Airlines has a System for efficiently transporting passengers. “Old” wealth, like the Ford family’s, came from the Systems of assembly-line manufacturing and franchised dealerships. “New” wealth, like the Walton’s family’s, came from the Wal-Mart Systems for regional warehousing and distribution and controlling costs. In your job or business, you undoubtedly have Systems.
Ron has a System for efficiently locating, accurately analyzing, and intelligently purchasing certain very specific types of real estate, in some cases to quickly resell one of several ways for immediate cash profits; in other cases, to hold onto, without landlord headaches. His System can be your System – without the years of trial-and-error and expense that went into perfecting it…
In 1982, he was married, working as a car mechanic, with no money in the bank, an embarrassingly small paycheck, constantly telling his wife and kids “no” and feeling terrible about it. He was 35 years old, bankrupt, married for 17 years, with 4 kids, and clueless about what he wanted to do with my life – although he was pretty sure I didn’t want to fix cars in the hot Florida sun. Sometimes, even a good business providing a good income still feels like a bad job.
Ron talks with a lot of doctors, lawyers, contractors, restaurant owners, insurance sales agents, mortgage brokers who were doing just fine purely in income when they first meet him, but they still feel miserable about how hard they’re working or how they’re tied down and trapped by their businesses. Ron liberates them now, like he was once liberated. He saw an ad that said, “Come learn how to buy real estate with no money and no credit.”
He didn’t believe it, but went anyway. Within the next 3 weeks, Ron made $3,000 on a small real estate deal and was no longer an auto mechanic. In a few short years, Ron purchased over 400 houses but had as many headaches as he did dollars. That’s when he completely redesigned his approach to real estate and went about being an ‘investor’ differently. He went about being a ‘quick-turn entrepreneur’ for immediate cash profits, too.
People started coming to Ron for advice, word got around, and almost of its own making, Ron wound up in the business of showing others how to do what he does – and what he does IS unique. It is a unique combination of marketing to attract deals, immediate cash profits, avoiding ordinary landlord problems, and rapidly accumulating wealth, a goodly portion of it tax-free. If that sounds complicated, it isn’t. Once you know the steps, it’ll be just as easy and natural for you to do as what you do now to make a living. By the way, you’ll be joining a 50 -Billion Dollar Industry that’s more than 200 years old. It’s not that we’re doing anything totally new here. Instead, Ron’s built a System for you on a rock-solid foundation.
So, today, Ron lives with his wife of 52 years, Beverly in a beautiful home and 10 acres in Jacksonville, Florida. He indulges in his favorite hobby, fishing, with three or four trips a year, including his favorite, into the Alaskan wilderness. He does a lot of speaking – in fact, he addresses audiences of 200 to 20,000. He frequently finds himself on programs with people like Dr. Phil, former U.S. Presidents, famous authors like Robert Kiosayki, ‘Rich Dad, Poor Dad,’ even Donald Trump. He usually travels in his private jet – no “take off your belt and shoes” airport security lines for Ron! He doesn’t tell you ANY of that to brag, but to make two very important points for your benefit: one, if a dumb car mechanic can do this, why shouldn’t you? You definitely have more education and resources than Ron did when he started. And you have all his experience, buying some 400 houses “dumb ways,” 2,600+ the smart way; buying over $300-million of commercial property; 35 years; all compressed and condensed into a step-by-step System that Ron never had. Two, although he’s paid every week to speak, conduct seminars, and author books and courses, that’s NOT where the majority of Ron’s wealth came from or comes from. He does what he tells you to do. He still buys and “quick-turns” three to six ‘ordinary’ houses almost every month just to keep his hand in, with an average profit of over $60,000 a month.
What you’ll learn about in this episode:
- What happens when you finally grasp that there is no safer investment than private lending
- Why you need to be aware of how you ask for private lending money
- Understanding the difference between mortgage brokers, hard-money lenders, and private individuals
- How to find your first prospects if you are just starting out
- Key questions to ask to determine if someone is a private lender
- Why you need to run if someone asks to pull your credit report
- Why raising private money is important if you want to pay cash for houses
- Some common objections and how to respond to them
- Why it would be foolish to make monthly payments on borrowed money
- Highlights of FCC regulations & why you cannot go out and solicit money
- The only expense the lender should have
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