Keith Baker is with us here this week to share his wealth of knowledge on private money lending and real estate investing. Keith is the co-founder of Asset REI, LLC, a company that finances buyers and investors that are neglected or overlooked by the too-big-to-fail banks, providing them with investment opportunities that they would otherwise fail to get. He is also the host of The Private Lending Podcast where he helps listeners achieve financial freedom through alternate investing, truly committed in sharing his knowledge with others to help them succeed.
Keith is no stranger to hard work, having worked in fast-food restaurants, oil fields, construction, and a lot of other jobs in between. He changed the course of his career by taking a leap of faith and converting his 401(k) into a self-directed IRA, which he used to start private lending. For this episode, he shares some valuable tips for listeners who want to do the same and finally start investing in real estate or becoming a private lender themselves.
We talk about how Keith chooses the people he lends to, the type of investors that he learned from when he was just starting out, and the difference between hard money lenders and private money lenders. Having made a lot of mistakes in the past, Keith also shares some of the things that YOU should avoid when starting in this type of business, especially with a self-directed IRA—otherwise known as your retirement funds!
If you’re one of the many people who don’t know where to start with private money lending or real estate investing using your SDIRA, this is an interview you wouldn’t want to miss.
- When trying to learn from other real estate investors, look for people with gray hair.
- Start with a conservative approach to keep yourself safe until you can learn how to invest successfully without getting into danger.
- Trust and transparency are key in real estate relationships.
- In private lending, relationships are more personal.