Our guest today is Harriet Baldwin, a financial analyst for American Capital LLC. She has more than 15 years of experience in the real estate investing space, including ten years as head of her own company and another 15 years of experience in Wall Street as a sell-side equity analyst.
Harriet is the epitome of an industry veteran, boasting an extensive portfolio and having raised millions of dollars in Private Money—she’s been doing it longer than me! So there’s no doubt there will be a lot of insights and knowledge for you to glean to improve your investing journey.
Tune in as we discuss her story, career, and why you should start raising Private Money.
Key Takeaways:
- On getting “stuck” and how she and her company grew through it.
- How individuals can get into private lending using their retirement account.
- The benefits and returns from using retirement funds to become a Private Lender in real estate.
- Harriet and her company’s Private Money strategy.
- How individuals can work with Harriet and Stu.
- Advice for people who want to become Private Lenders.
- Tips for real estate investors who are looking for Private Lenders.
Check out my book: 7 Reasons Why Private Money Will Skyrocket Your Real Estate Business and Help You Build Incredible Wealth!
Get it here for FREE: www.jayconner.com/moneyguide
Connect with Harriet:
Website: https://www.myownhomest.org/
Timestamps:
0:01 – Raising Private Money with Jay Conner
0:47 – Today’s guest: Harriet Baldwin
1:49 – Why We Choose To Work With Jay Conner: We Wanted To Grow And Build More Solid Foundation
5:50 – Retirement Funds Can Be Use As Private Money
9:24 – Step-By-Step Guide To Using Retirement Fund As Private Money
13:21 – Benefits Of Investing Your Retirement Funds In Private Money
16:47 – Rates And Return Of Private Lenders
18:37 – Jay’s Free Money Guide: https://www.JayConner.com/MoneyGuide
19:44 – Have Any Of Your Private Lenders Lost Their Money?
22:09 – Connect With Harriet Baldwin: https://www.MyOwnHomeST.org
23:58 – Get To Know More About Harriet & Stu
25:46 – How To Safely Invest Your Money
30:42 – Where To Find Private Lenders
31:50 – Get The Money First
32:57 – Harriet Baldwin’s Parting Message: Real Estate Is A Great Opportunity For Everyone. It Is Where A Little Bit Of Hard Work Can Bring Forth Consistent Cash Flow In A Long Run
How Harriet Left Wall Street and Raised $4 Million In Real Estate
Jay Conner (00:00):
A lot of real estates investors are throwing loads of money down the drain by not having private money available, ready to fund their deals. You see, when you buy real estate with private money, you have a big payday on the front end of the deal when you buy the property. In addition to getting more big checks when you sell the property. That’s right. You see, when you buy real estate using private money, you bring zero as in none of your own money to the closing table when you buy and you bring home a big check when you buy. Like, how would you like to buy real estate and get paid when you buy the real estate and bring none of your own money to the closing table? Well, my guest today is going to break it down easily to understand exactly how she does this. My guest today is a good friend of mine, Harriet Baldwin, and she has raised over 4 million in private money. And lemme tell you, Harriet knows what she is talking about it because she’s been doing it for years. Let’s hear what Harriet is saying and how she’s doing it right now.
Jay Conner (01:49):
Well, Harriet, I’m got my curiosity flowing here. You already had over a hundred houses in your portfolio. You, you and your, and Stu, you had already raised hundreds of thousands, if not millions of dollars in private money. And then you came to me and we started working together. Why in the world would you start working together with me? And you got all these houses in your portfolio and you’ve raised a bunch of private money. And so now here we are.
Harriet Baldwin (02:24):
That’s a great question, Jay. And, thanks for having me today. The thing was, we were kind of stuck, you know, we were doing good, but we were stuck. We were on a plateau and we didn’t wanna be stuck on a plateau. We wanted to grow, we wanted to be able to help more people and just to have a more solid foundation. So I’m looking around for resources that could help us do that. Your name came up, we’d seen you briefly way long, many years ago. We’re like, I think it’s time that we look into this and we are so glad that we did.
Jay Conner (02:54):
Yeah, well you’ve all been a joy to work with and I mean, you’ve raised millions of dollars literally since we started working together. I mean, in addition to what you already had. But now what year did you start investing in real estate?
Harriet Baldwin (03:08):
So I’ve been working with Stu full-time for 16 years and he’s been in real estate full-time for 40.
Jay Conner (03:15):
And when did you start raising private money? I know it was long before me.
Harriet Baldwin (03:20):
Yeah, no, Stu had raised private money before I started working with them. So even back to when they first put in the legislation for being able to use IRAs to invest in mortgages, you know, that was back in the mid-nineties at least.
Jay Conner (03:33):
Yeah. So how in the world and I know, I know we have a listener that can relate to this, but I, but I want everyone to hear how in the world can, you know, you mentioned being stuck. How in the world can you and Stu, by the way, we’ll have Stu on for another episode, he’s out making a big deal this afternoon, but how in the world is it that you and Stu could be investing in real estate for years raising private money for years, but then you get stuck? I mean, how can you get stuck and like have all that knowledge and experience?
Harriet Baldwin (04:12):
Well, I think it might be human nature. You know, you get to a comfortable spot and you’re like, oh, a couch and my favorite show, I will not move. You know, so we were kind of that way with real estate. We had enough units, we had enough funding, but then we’re like, you know, we wanna do something new. We wanna keep growing. You know, cuz if you’re not growing, you’re shrinking. And we didn’t want that to happen. So and just looking for a reminder, an accountability partner, and some best practices. And it was really helpful. Some, you know, I think Michael Jordan tells a story about people don’t want coaches and they don’t wanna take advice, but look at the most successful people, you know, they have entire teams of people giving them advice. So we wanted to add to that team of people giving us advice. And you were number one on our list.
Jay Conner (05:00):
Well, you know speaking of having a team giving you advice my lands, me and Carol Joy we are in three masterminds right now with other real estate investors. In addition to the mastermind that we run that, you know, of course, you and Stu are a member of. So you just can’t surround yourself enough people that are doing what you’re doing right. That is like-minded. And so I just can’t recommend enough for, you know, someone that’s, that’s looking to grow their business to get in a mastermind and, and get involved with other people that are, you know, working towards the same end goal that you are. Now, just a moment, you mentioned you know, Stu working with folks and using retirement funds to raise private money. So share if you will, how is it that you can work with individual human beings just like you and me to have them be a private lender using their retirement funds? How does that work?
Harriet Baldwin (06:20):
Yeah, it’s a great option. It’s not something a lot of people know about, even folks in the business. I mean, I was working on Wall Street for 15 years as a sales side analyst before I joined Stu full-time for real estate. And it’s, it’s one of those things where it’s part of the legislation, the enabling legislation for retirement counts allows you to invest in a wide array of, of what do you call those things? Vehicles allow you to invest in a wide array of investment vehicles. But most of the custodians for IRAs are big brokerage houses. So the only menu they give you is the stuff that they get commissions on. And the rest of this entire universe of stuff you can do, it’s completely legal and it’s very hard to access. So anybody with retirement funds in an ira and most people with retirement funds in a 4 0 3 K or what is it, 5 0 3 B, you know, the nonprofit side of things.
Harriet Baldwin (07:14):
Most of those folks, if you want to, can move some of your retirement funds to what’s called a self-directed ira. There those custodians are federally regulated, it’s very safe, and then you can choose how to invest your funds and that gives you the option to make mortgages on the property to folks so that you can get high returns that are secured by a mortgage. So it’s not volatile. It’s very predictable and it’s very safe. Cuz the worst thing that happens is if you’ve made this mortgage and the person you’ve done it through isn’t performing well, you can take over the mortgage, you can collect the rent, you can do whatever, but that rarely happens. It’s a very low-risk area. So it’s really exciting and hardly anyone knows about it.
Jay Conner (07:57):
Well, you’re right. You know, when I, I’ve made presentations to the Rotary Club here in my local area, and you know what’s interesting? Excuse me. You know what’s interesting is even the financial advisors in the Rotary Club or wherever I’m making a presentation, and you know, you have probably experienced the same thing. Very few of them have ever heard of these third-party custodians, self-directed IRAs, where an individual that has an existing you know, retirement account, can move those funds over to an IRS-approved self-righted IRA company or a third-party custodian. And when they move those funds over there’s no tax effect, right? There are no penalties for them to move those funds over. And then they be, they can become for us, the real estate investor borrower, they can become a private lender with us. And, you know, depending on the type of retirement fund that they have, the returns they get are tax-free.
Jay Conner (09:08):
Like if they have a Roth IRA that’s, you know, they’re, they have retirement funds that are like after tax taxes have already been paid or it’s an existing 401K or pension that, that they can move that over. So you as a real estate investor, Harriet, let’s say that you are talking with an individual that you know, you got some kind of relationship with ’em or maybe not <laugh>, maybe you’re making a, maybe you’re making a presentation to a group that doesn’t know about self fronted IRAs. What are the steps involved? And so, let’s back up. Let’s say they’ve heard about it and I can tell you as you know, it’s always like an aha moment. It’s like they say, oh, I don’t even know something like this existed. It’s like, I knew there had to be some way out there that I could take my retirement funds and I could either invest in real estate, which they can, they, they can take their retirement funds, invest in real estate and, you know, flip a house or what have you.
Jay Conner (10:18):
Or as you say, they can be a passive investor and loan, their retirement funds to us real estate investors. And there’s no limit to the amount of money that they can make per year either tax or your tax deferred. But let’s say you’re visiting with, you know, someone that has current retirement funds and they wanna be involved in real estate, they wanna get high rates of returns safely and securely, but they just don’t want to go through the hassle of finding deals, negotiating deals, overseeing deals if there’s rehab involved, they don’t want to be involved in, you know, overseeing contractors and overseeing a project. They just wanna sit back and, you know, watch their retirement funds grow in their account. What are the steps when you’re, when you’re first teaching someone about this, what are these steps for them to come involved? What do they do first? What do they do second? What do they do third?
Harriet Baldwin (11:26):
Sure. No, there, there are a bunch of steps and the good news is the people at the custodian’s that exist just to make these things happen, right? So the first step would be to figure out, you know, what is it that you wanna invest in? Having some idea of that and how that fits into your overall portfolio is helpful. Most people won’t end up moving all of their retirement funds, but it can be really helpful to move a chunk of your retirement funds. So sort of have an idea of what that looks like. And then the custodians offer a white glove service. You let them know that you’re interested in opening a self-directed IRA and you don’t touch the money. That’s very important. Your money goes directly from your existing retirement account to this new account retirement account, cuz that way it preserves all of the tax benefits.
Harriet Baldwin (12:13):
And the custodians are set up to make that very easy to do. And then from our perspective, we know how to set up all these documents. We work with our lawyer, it’s something we’ve done for many other investors, and there are a few extra documents even beyond what we’d do if you were using regular funds that we’re gonna send to the custodians. So they have all the documentation they need to make sure that your investment is safe and secure and documented so that all of those monies are as tax benefit as possible. The other thing you’re gonna wanna do is you don’t have to talk to your current retirement account moderator. If you don’t want to, you can, but sometimes people feel like, oh my goodness, I’m gonna take some of this money away from them. That’s terrible. That’s not terrible. These are not your children. These are your investment advisors. It’s your money. You want to earn as much as possible, but sometimes that conversation can be difficult. You don’t even have to have it. The custodian can do all of that paperwork for you and make sure that everything is done just the way you want it to be. And then you can, you know, take your investment advisor out for lunch if you feel guilty, but you know, it’s your money, stand up for it.
Jay Conner (13:21):
So, you know, the feedback that you have gotten over the years, and you and Stu have been investing for years. You got over a hundred houses in the portfolio, a lot of them you sold, if not most of ’em on rent to own. Why, what are the benefits? Why would an individual have retirement funds? And, I want you to speak to what you’ve heard back from your private lenders. Why do they want to invest with you with their retirement funds? And by the way, just to make sure everyone understands, a private lender does not have to use just retirement funds. They can use investment capital, any kind of liquid funds they want to, but like, you know, with me and Carol Joy, we’ve got 44 private lenders and over half of them are using their retirement funds. Why would someone that has retirement funds want to move their funds over to a self-directed IRA company that you would recommend tax-free, penalty-free, moving it over, why would they want to invest with you versus just say, leaving it in the stock market you know, as their retirement funds or whatever you, what, what, what’re the benefits of doing it with you versus other ways that they can invest their retirement funds?
Harriet Baldwin (14:52):
Sure. So not that many places are set up to help you put your retirement funds into real estate. So that’s one thing to look at this, but the big picture is the stock market has, you know, over the long run okay returns, depends whose numbers you look at. I’ll try not to get too math geeky for everybody, but generally, you should beat inflation by two or 3% over the long run in the stock market. The problem is it’s not a straight line, it’s gonna go like that, right? Or that or whichever, you know, it’s very bumpy. So that volatility means who knows over the short term or, you know, even three to five years that return could be up, it could be down. So if you’ve got a 40-year time horizon, who cares? It’ll work out fine. But if you have a shorter time horizon or if your risk profile is such that you don’t, you don’t want that volatility, you know, it should go away eventually, but you just don’t wanna hear about it.
Harriet Baldwin (15:48):
Our real estate investment is a fixed-rate investment and it’s secured by real estate. And we all know that real estate, they’re not making any new land out there. So over the long run, it’s very safe and low volatility, really no volatility way. You know exactly what you’re gonna get paid, you know exactly where that money is. And fixed-income investments tend to have much lower rates of return. So being able to offer mortgages is one way for you to get higher returns than most fixed income with less volatility than the stock market. So it’s a sweet spot. It’s not perfect for everybody. It’s not something you wanna put all of your money into, but it’s a great place to help to diversify things and help you sleep better at night. And a lot of our investors are very motivated by the fact that they’re helping us help folks that wouldn’t otherwise have housing stability to be in a nice house, that they’ve got control of that, you know, it’s good for the community as well as for the investors. Bottom line.
Jay Conner (16:48):
How many private money investors do you and Stu have right now? Approximately?
Harriet Baldwin (16:53):
Right now I would say we have approximately 30, 35
Jay Conner (16:57):
So there may be, and probably is more than one person listening to us right now that would love to get high rates of returns safely and securely either in their investment capital or with their retirement funds or both. I’ve got a lot of private lenders that invest with me and Carol Joy in our business with retirement funds and investment capital. I’m sure you and Stu do as well. I just checked last week as of today this recording, the local 12-month certificate of deposit at the local bank or credit union is right now averaging 0.97%. And that’s up from 0.17% a year ago, but still 0.95%. That’s less than 1% on getting a 12-month yield and a certificate of deposit at the local bank or credit union. What kinda rates return? And, and I know this can change over time, but what kind of a turn are, are you and Stu giving your private lenders right now?
Harriet Baldwin (18:12):
Right now, depending on the exact program, we’re giving seven to 10%.
Jay Conner (18:17):
I mean, that’s unbelievable. I mean, that’s, that’s like over 10% in returns. Then they can get in a local certificate, you know, of deposit. Now on the other hand we may have a listener that is like going, well, hey, like, you know, I’m a real estate investor, or I want to be a real estate investor, and how do I learn about this private money thing that I can offer to potential private lenders? Well, guess what? I got a gift for you. I’m so excited about this new private money guide that you can download for free. And it’s called Seven Reasons Why Private Money will Skyrocket your Real Estate Business and Help you build Incredible Wealth. You can download this Private Money guide, to get you on the fast track, to getting Private Money for your real estate investing business, and you can download it right now at www.JayConner.com/MoneyGuide. And that will get you on the fast track to getting private money lined up for your real estate deals so you don’t miss out on any of your deals. Now, Harriet, you and Stu have got a ton of private lenders you got a lot of experience. Let me ask you this question. Have any of your private lenders or investors ever lost any money in investing with you and your deals?
Harriet Baldwin (20:02):
No.
Jay Conner (20:04):
And why is that? I mean, you know, every deal’s got Murphy, every deal that you got, rehab has, you know, got surprises that come along. But how is it that your private lenders not having to negotiate deals, not have to oversee rehab deals? I mean, do you give them a large equity cushion so that when you do have overruns or whatever, they are still able to get the same rate of return that they were promised to begin with on that deal?
Harriet Baldwin (20:36):
Yeah, so, you know, every real estate investor has a slightly different strategy. I know Jay, your strategy and ours are similar in some ways and different in others. So in our particular area, we focus on buying scratch-and-dent houses, renovating them, and then making them available on a rent-to-own basis for folks that are scratch-and-dent borrowers who can’t go to the bank and get a mortgage. So in our area, that’s still something where we can charge them rates that are similar or slightly lower than the going rate and get a great return for investors’ money. So we are building in that equity position. So our investors are not doing a hundred percent financing. You know, we try to aim for 70% or so similar to that. Some of those monies are gonna be going toward the renovations and the re I mean, the last house we bought, we paid $11,000 for now it’s gonna take a whole bunch of investment in it to make it habitable, but being able to find those deals and knowing the local code officers and being able to make everybody happy to get that house done on time and under budget.
Harriet Baldwin (21:42):
We’ve got contractors we’ve been working with for almost 10 years. We work very closely together. So all of those pieces of the puzzle come together so our investors know that their money is safe. And like you said, Murphy’s always out there. So we’ve all, you know, we have a bunch of little deals or something there. You know, if our end buyer who’s paying the rent doesn’t pay us rent, we are still paying our investor and we’ve got enough different eggs in our basket to make that very reliable.
Jay Conner (22:10):
So how can someone get in touch with you to learn more about how they can get high rates of returns safely and securely by investing with you and your company and into your deals?
Harriet Baldwin (22:25):
Sure. And you know, we’ve always got deals out there, so we’re, we’d be more than happy to talk to folks, right? We’ve got a website called www.MyOwnHomeST.org that’s short for Southern Tier. So www.MyOwnHomeST.org, that’s got some, you can see it’s the same site we use to reach out to our clients that are buying our homes and it’s got investor information and more information about us and our business. So that’s probably the easiest way. There is a contact form in there that goes into an email that pops up right in both my and Sue’s emails. So if you reach out to us there, we’ll make sure to reach back out and learn more about it.
Jay Conner (23:03):
So if you are listening right now and you’re interested in getting high rates of return safely and securely, even using your investment capital or your retirement funds, make sure you go to www.myownhomest.org. That’s spelled out my own, that’s o w n home, h o m e s as in Sam, T as in tom.org. So that’s www.myownhomest.org. And Harriet and Stu can fill you in on exactly how, you can get high rates of returns safely and securely whether you’re using investment capital or you are using retirement funds, or all the above. And I tell you, Harriet, I’ve worked with a lot of real estate investors over the years, particularly since 2011. And you and Stu are two of the most successful wise, conservative know what you’re doing real estate investors that that I have, that I’ve ever worked with. So I mean you’ve gotta like, you know, 30 some investors right now that are investing in your business. And again tell everyone what year and you know, what year all this started and how much experience you got.
Harriet Baldwin (24:39):
Yeah, so ST’s been in real estate since the early eighties. He started as a mortgage broker, then became a mortgage banker and a real estate broker. I’ve been doing this full-time with Stu for 16 years now. We’ve been in Elmira, which is where we’re located in upstate New York for a little over 10 years. And that’s really where we sort of st says that we’re semi-retired developers. I think we’re working just as hard as when we were doing big development deals down in the New York City area. But it’s really exciting to get in at the grassroots level and provide individual families with homes. It’s, it’s something that is a mission-driven thing for us. It’s heart driven as well, don’t worry, I’ve got to the spreadsheet for everything. Right. so it’s been great for us.
Jay Conner (25:27):
Well, how many years did you work on Wall Street, Harriet?
Harriet Baldwin (25:31):
I was on Wall Street for 15 years as a cell site analyst. So I was one of those talking heads on CNBC from time to time
Jay Conner (25:38):
So, for the thinker brains that are listening, you got the spreadsheet and, and, and you got them covered. So I’ve got another question for you to speak to either an individual that has been a private lender before or just as importantly, if not more important to an individual that may be listening to that is interested in being a private lender but has never done it. And so what advice would you give to someone interested in being a private lender? They want high rates of returns safely and securely, but what advice would you give to them about red flags? What warning signs would you give them about, you know, being aware of X, Y, and z? If you’ve never loaned money out and never invested and been a private lender, what advice would you give to them for them to be careful about so they’re protected?
Harriet Baldwin (26:43):
Sure. There are a few things to look for. You wanna make sure that you’re getting the right documents. If someone says they’re giving you a mortgage, make sure you get a mortgage and that it’s recorded. I know it sounds basic, but seriously would not believe what people let themselves believe. I don’t know if I said that right, but, so make sure it’s documented properly. All of our deals that are secured have a mortgage and also a separate promissory note. All the
documentation goes through our lawyer. Everything that needs to be recorded, gets recorded by the county clerks. All of that is something that we provide to our lenders. They see that it has been recorded. It’s very easy to track. One red flag would be if you’re talking to someone that you’d like to invest with and they belittle your questions or aren’t willing to ask your questions, especially if it’s something you’re new to, you deserve the answers.
Harriet Baldwin (27:34):
And the answers for the people that know what they’re doing are very straightforward and very reassuring. So you’ve got somebody that doesn’t wanna answer. Your questions keep moving. If you’ve got somebody that seems like they’re trying to sell you something, you know, we have plenty of lenders, we’d be happy to work with folks, but if this isn’t a great fit with you, that’s okay. Let’s, let’s discover that. Let’s make sure this is something that’s gonna work for you and work for us. Cuz there’s no reason this can’t be a win for everybody. Right. and I guess one of the other things is if you’ve got somebody that you know and trust from some other area and they’re just getting started in real estate, consider that, that you wanna go with somebody that’s been doing this for a while, that’s got a track record. So you’re not, you don’t have to be the pioneer. You’re somebody that can benefit from the accumulative wisdom of somebody like us or Jay that’s been doing this for decades.
Jay Conner (28:24):
Yeah. And in addition to that, Harriet, if I were a new potential private lender first of all, that equity cushion, would be so important to me as a private lender, whether I’m new or season, and by the way, I’m a private lender as well. I, I love sitting back being passive, and doing nothing <laugh> except collecting checks or letting my retirement money grow. But, you know, if I were a new private lender, one thing that would be important to me or that is important to me as a private lender is I would, I would want to understand what’s the difference between what’s the after repaired value or what, what’s the value of that property going to be versus what am I loaning out? Like, you know, as a borrower, my rule of thumb is I don’t wanna borrow and put my private lender at any more risk than borrowing 75% up to 75% of the after-repaired value.
Jay Conner (29:31):
And that’s a 25% spread to protect the private lender. And the reason that’s important to me as a private lender is if the deal goes awry or if the market, you know, starts going down and, you know, if the market changes and the price has to come down, then I wanna have plenty of, you know, room in between what am I loaning out and what’s the property worth before I loan that money out? You know, energy said, quite frankly, I don’t wanna, I don’t wanna borrow unsecured funds as, as a private lender, however, I know you and Stu borrow unsecured funds with some of your private lenders and you have extra incentives for them, but you know, you, you’ve got a long, long track record of experience, so you know, all, you know, all that makes, you know, you know, makes sense as well. Let’s wrap up, Harriet speaking to the real estate investor that is listening to this podcast and this show as a new real estate investor, a real estate investor may be thinking of themselves. Where do you find these people? Like where do you find these individuals that are willing to loan money out? Where, where are these people walking around?
Harriet Baldwin (31:14):
They’re everywhere. Once you know where to ask, right? We, we’ve met people through boards that we’ve been on. We’ve met people at dinners that we’ve gone to. We enjoy wine and food. So, you know, we run into hooks there. We met people on a cruise. One of the largest investors we met on a cruise was related to one of the nonprofits that we were on the board of. So, you know, it’s all, it’s all connected. But once you know, to offer people just mention what you do, mention that it’s an opportunity and you might be surprised who says, oh, I would like to learn more about that,
Jay Conner (31:51):
Which is more important, Harriet? When you’re talking with a new potential private lender and you’re the real estate investor and you’re, you know first of all is it a good idea to talk with a new potential private lender and you’ve got a deal that you need to be funded at the same time?
Harriet Baldwin (32:13):
No, Jay, you’ve taught everybody to get the money first, right?
Jay Conner (32:18):
Well,
Harriet Baldwin (32:19):
It, I mean, I think it’s a natural thing for real estate investors. We’re always looking for a good deal and sometimes you find a deal, we don’t have the money for it, but no, you want the money first.
Jay Conner (32:27):
Exactly. I mean, it’s like, I tell people all the time, the worst time to be teaching potential private lenders about private money and private lending is when you’ve got a deal that you need funding. It’s like, I like to establish the relationship first, and then when you have a deal opportunity, then of course, you know, then you’ve got the deal. You know that you can have the Private Lender fund. So with that Harriet’s final words, final advice either from the real estate investor perspective or the private lender perspective, and then one more time, give out your information about how people can get in contact with you and Stu and learn more about how they can be a private lender with you.
Harriet Baldwin (33:17):
Definitely. So I think my, my words of wisdom real estate is a great opportunity both for the investor on the funding side and the operational person looking for houses to renovate and put onto the market. It’s an area where a little bit of hard work can lead to some payoff on the monetary side to look at it as part or all of your portfolio. Don’t do it as all of your portfolios always, you know, right? But for all of your business or, or a chunk of your investments, it’s a way that you can make some, some nice money over the long run. Work with people you trust, work with people with integrity. If folks don’t have integrity, even if the numbers look good, just keep on going. But, you know, it’s, it’s definitely an area that can be very lucrative and very consistent and can make you feel good about what you’re doing with your money.
Jay Conner (34:15):
And, you know, heritage, you mentioned a moment ago, you said win-win and you know, the way that we have structured the program as a real estate investor, as a private lender, it’s a win-win for everybody. You know, and quite frankly you know, as we talked about at the Private Money Academy conference last week, unless the cash is happy on both sides of the table, let’s don’t do the deal. We want everybody to have a win-win-win. Harriet, thank you so much for joining me here on Raising Private Money.
Harriet Baldwin (34:52):
Thanks for having me, Jay. Oh yeah. And I was supposed to remind you about how to get ahold of us my own home st.org. You can find us. We’d
Jay Conner (35:00):
Love to talk. You got it. So to do business or learn about doing business with Harriet, go to www.MyHomeSt.org. Thank you, Harriet.
Harriet Baldwin (35:13):
Thanks, Jay.
Jay Conner (35:15):
And there you have it, another episode of Raising Private Money. I’m Jay Conner, The Private Money Authority, and I need your help. You can make my day by sharing this episode and this podcast with someone you know, who you believe would benefit from the information that we’ve had here on the episode. And if you happen to be watching on YouTube, be sure to click that bell and subscribe and you’re listening to the podcast. Be sure and follow us the on the podcast Raising Private Money because your success is very, very important to me. I’m Jay Conner, The Private Money Authority. Wishing you all the best. And here’s to seeing you right here on the next episode of Raising Private Money.
