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Multiple ways that you can be a transactional lender or a gator lender gators are both in the water out of the water. They do both. They’re jumping in, they’re jumping out number one. What we’re going to talk about are some really cool ways that no matter who you are, no matter what resources you have, you can actually become a gator lender. And I’m gonna break down what a gator lender is either a how do I find Gator lenders or be how do I become a gator lender? Because I feel like if I’m brand new to real estate, and I don’t even have money for wholesale and marketing and all that kind of stuff, I actually can become a gator lender.
And you’re gonna go oh, wait, I’m 18. How do I do that? Wait, I’ve never been a lender. Wait, I don’t have enough money. I’m going to show you guys exactly how this is done. Here’s the personality types, we’ve got the whale leave me alone pay me my returns, I’m not in business of making money. I’m in the business of preserving money. They’re usually at seven to 10% There’s all the details of them, then we’ve got the dolphin completely different personality, completely different place you find them completely different interest rate completely different goals.
Swimmer, most of my investors that invest with me are actually swimmers, people that invest with me specifically because they want to learn my deals, how I’m finding them, how I manage them what my team is doing. I showed you guys my slack channel yesterday and showed you how my team is making decisions on every single deal. Sharks, there are sharks out there that are lending money.
These are people that are doing deals already, but they don’t have enough deal. So they’re lending money and getting to other people’s deals. Now a gator Gator lender is a transactional lender, somebody who’s funding on a transaction very quickly. They’re coming in and getting chunks you guys notice there’s not really an interest rate here. Because they are lending based on chunks they make a lot quickly and they do a ton of transactions they’re in and they are multiple ways that you can be a transactional lender or a gator lender gators are both in the water out of the water. They do both.
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They’re jumping in, they’re jumping out number one, I have somebody right now that I’m lending literally $1,500 to I’m lending $1,500 to them for one purpose. Why do you guys think I’m lending Somebody $1,500 Somebody got into a deal that they’re super excited about and they don’t have earnest money. Okay, so a lot of you guys that are brand new, you don’t know earnest money is if I’m a wholesaler, and I go to a seller and I get into a contract with that seller, meaning the seller get into a contract that says I’m gonna buy this house for this dollar amount.
Every single contract is going to stay earnest money means in order for me to actually start the transaction, I need to put $100 Down $1,000 Down $5,000 Down a lot of times it’s 1% of the purchase price, you have to go in open escrow. So take this contract down to a title company handed over to a title company, they begin the transaction and all the searching and all the title work, but they’re going to require you to put down whatever your contract says of earnest money. Here’s the thing that I can do with transactional lending. I can find people’s earnest money.
So I’ve got an earnest money deal right now where the wholesaler needed $1,500 To cover his costs to get into the deal. Okay, 1500 bucks, how much money would I make if I was going to earn 10% of that over the course of a year $1,500 over the course of a year. It’s not really worth my time. So most big lenders like hard money lenders, private money lenders, they don’t want to waste their time with a $1,500 little lending fee Gator lenders or transactional lenders lenders that are coming in and out. Most people would look at your little deal and your earnest money as a dead carcass. I don’t want to deal with that. But guess what animal eats a dead carcass all day long. Now, an alligator will eat a dead carcass