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Real Estate Investors, Stock Traders, and Business Owners guide to preserve their wealth, protect their assets, and prosper in the future.
Episodes
Tuesday Feb 04, 2020
Tuesday Feb 04, 2020
Most businesses only manage to survive three to five years. Business owners who make it past the five-year mark should be proud of their background, knowledge, and experience in the industry. They stay afloat and make it through minor to major downturns by knowing how to talk the same language and turn a profit. Today, Michael Bowman of Anderson Business Advisors and Bowman's Business Brief talks to Eddie Gant, co-owner of Jet Lending, LLC. The asset-based lender started investing in the real estate business by buying, fixing, and flipping distressed properties, but decided to take a leap into lending, as well.
Highlights/Topics:
- How to evaluate asset-based lending? Multiple forms of protection; #1 is collateral
- Why go to an asset-based lender? Security, safety net, and speedy closing of deals
- Is it a good deal or not? Second set of eyes to review deals; include terms to get an out
- How has the industry changed? Increased competition and bigger audience
- Who to include on your team and build your network? Responsible and reliable partners, contractors, insurance companies, roofers, and structural engineers
- What’s the hardest part of the business? Not finding deals but managing contractors
- How did lottery curse lead to one of Eddie’s biggest wins? Bought house from Texas lottery winner who burned through millions of dollars in a few months
- How to create a win-win for client and company? Do business right to build clientele, your brand, and word-of-mouth referrals without needing to be the cheapest
- Are meetups worthwhile, why? Education, networking, and fostering a community
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