In this episode of the podcast, host Daniel Martinez interviews returning guest Jason Balin about his journey and experiences in the private money lending industry. Jason shares insights from starting his hard money lending company in 2007, discussing both the challenges and the strategies that led to its success, including a focus on consistent, modest gains rather than pursuing high-risk, high-reward deals. He recounts a particularly challenging experience with a property in Northern Virginia that burned down multiple times during the loan period, detailing the complications with insurance claims and the eventual legal battle to secure the insurance payout. Through these stories, Jason emphasizes the importance of consistency, risk management, and the value of hitting "singles" in the investment game rather than always aiming for "home runs."
Starting the Hard Money Lending Business (Timestamp: 0:37-0:53): Jason Balin shares his journey into the hard money lending industry, starting in 2007 without any capital and being inspired by the high interest rates and points charged by lenders at the time. He discusses his transition from being a real estate investor to a lender to achieve a more stable and consistent return on investment.
A Bad Lending Experience (Timestamp: 2:40-4:59): Jason recounts a difficult lending scenario where a property in Northern Virginia, linked to a loan he provided, burned down three times, leading to numerous challenges including insurance claim issues, legal battles, and significant financial risk.
Consistent Small Wins Over Big Risks (Timestamp: 7:05-8:07): He emphasizes the philosophy of aiming for consistent small wins ("hitting singles") in the real estate investment game, rather than taking big risks in hopes of large payouts. Jason highlights the importance of this steady approach in building long-term success.
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