Now that we’re in a technical recession, non-traditional lenders are the ones to work with to close deals. Chris Haddon is a best-selling author and hard money specialist and here, we talk about what hard money is and how people use it. We also talk about the markets Chris is getting into and how he structures deals.
We’re now in the throes of a technical recession. While banks are still lending on certain deals, overall financing has tightened up. This means that non-traditional lenders are now the ones to work with to close deals. Chris Haddon is a specialist in doing this type of lending and began his finance career with a large commercial bank. There, he learned all about real estate and personal and commercial finance. Combining this knowledge with an entrepreneurial spirit, Chris co-founded a private money platform in 2007 and quickly grew it to $25 million in loan volume.
Chris is also the co-author of The Whiteboard, a best-selling book about how to go from a blank canvas to a highly profitable business. Chris and a friend initially teamed up and started doing fix and flips, but then got into lending. They realized that their own lenders were making just as much off their deals as they were, but with far less work. We talk about how Chris weathered the 2008 crisis and the similarities we’re seeing today. We also discuss what hard money is and how people use it, what markets Chris is jumping into, and how he structures deals.
- How Chris got into non-traditional lending.
- Hard money: what it is and how people use it.
- Which markets Chris is targeting today.
- How Chris structures deals.
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