RG 167 – The Power of Peer to Peer Lending to 10X Your Real Estate Portfolio with Ryan Wright
Ryan is the CEO of dohardmoney.com and has been investing for over 19 years. Over this time he’s seen the difficulties of getting funding quickly and reliable so he created Do Hard Money which is a private hard money company offering short term funding for real estate investors through a peer to peer platform. Ryan has published three books and is from Salt Lake City, Utah. Ryan made his first dollar selling Cola to nearby construction workers. His dad was a chiropractor and bought some rental properties so he got the entrepreneurial bug from his dad. His father loaned him the money to buy a carpet cleaning machine, and he went door to door selling his services to pay off his father. He had a full size van and a large company before he sold it when he was in high school. He then started another business for matting and carpets which got sold and he received residual pay outs for a further 5 years.
Ryan’s grandfather was an Hvac contractor and he would buy a house, fit it up and sell it. His father was doing 3 plexes and cash flowing to buy another one, so he always knew there was money in real estate and he quickly learned the difference between owning and renting and how interest worked. While he was still a student he knew he wanted to be a real estate agent to he got his certificate and bought a duplex at 21. When he was an agent he knew he had to get into investing and flipping properties but he was too scared to do it himself so he found people who wanted to flip property. He worked out a deal that the flipper had to buy and sell with him so he made a commission on both ends. After a while he got over his fear and was able to do the deals on his own and he moved out of plexes and into single family and then lending.
- Most important habit – A vision board
- Most influential person – dad and grandfather
- Most important tool – investors edge software
- Most important failure – the shots he didn’t take
- contact – dohardmoney.com