221 - “Honey, is that a fake Russian policeman at the door?” - Ryan Walsh

“Honey, is that a fake Russian policeman at the door?” Ryan
Walsh, a hard money lender in New Jersey, wasn’t convinced that
going into business with his brother was a good idea after
hearing this story. Listen in to hear what happens, what did
convince Ryan to get in the game, and how a sibling team took
lending to the next level. 


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Time Stamped Show Notes:


00:45 - Introducing Ryan; a hard money lender in New Jersey

01:05 - Hard money lenders are like the modern-day,
legal, loan sharks



02:00 - How it works; they’re like venture capitalists that
work in real estate

02:55 - Ryan’s CSIRE story

03:30 - He is partnered with his brother, who started in
property management; 5 years ago his brother wanted him to
join his real estate business

04:55 - A Russian guy worked with them and tried to pick
up a tenants 13-year old daughter; he got fired and came back
in a fake Russian police uniform

06:30 - He showed up at his brother’s doorstep saying he
was owed money; his brother called the police

06:45 - His brother later gets a small claims court
letter; he goes, tells the story, and they tell his brother
to pay the guy half what he thinks he is owed

07:45 - This is the story his brother tells him to
convince him to join the business



08:15 - Another CSIRE story

08:20 - Years later, his brother got into lending and had
time and freedom; this was attractive to Ryan and he jumped
in

08:40 - His first deal was a triple Daisy Chain, which is
when a property exchanges hands 3 times without any move-ins



12:05 - How to reach Ryan: (201)345-1036
ryan@hardmoneybankers.com; they operate from D.C. to New Jersey
and have a network anywhere else, too 



3 Key Points
Hard money lenders are like venture capitalists for real
estate.  Daisy Chains can happen!  Defend yourself.