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Protecting your Private Lend with Graham Barr & Brandon Hans
Manage episode 415705586 series 3563810
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In this episode, we dive into the world of private lending with our esteemed guests and go to lawyers from Barr LLP, Brandon K. Hans and Graham A.B. Barr. Private lending has become a very popular investing strategy for those looking to be more passive investors. Unfortunately, as of late we've been seeing some challenges unfold with lenders not getting their money back.
We brought in the big guns to share their wealth of knowledge to help support investors that are considering this investment strategy and how to manage through the challenges the community is facing right now.
Key points discussed in this podcast:
- An overview of private lending trends amidst rising interest rates and tighter bank financing regulations.
- Challenges faced by borrowers due to market downturns leading to high-interest rates on private loans
- Managing through the litigation process when borrower isn't able to pay back
- The importance of conducting thorough due diligence before entering any private lending arrangement.
- Why some borrowers prefer promissory notes over secured loans – avoiding interference with primary mortgage lenders or meeting specific criteria like those set by CMHC (Canada Mortgage and Housing Corporation).
- Understanding alternative forms of security that can be taken beyond just property mortgages such as general security agreements, assignments against life insurance policies, charges against vehicles/equipment etc.,
- & more!
Remember: Due diligence is key! And it crucial to learn what steps a lender should take before lending money to any borrower. You are the bank so manage the due diligence process in the same way they do.
Learn More About Our Guest Speakers - Barr LLP:
https://thesavvyinvestor.ca/barr-llp/
Learn More About Our Trusted Partner- Power Team
Power Team, led by REALTOR® Sean Power, is a real estate company with a strong focus on real estate investment. We have a wealth of knowledge and expertise in the industry, having personally purchased multiple investment properties in New Brunswick and helping countless clients achieve their real estate dreams.
Would you like to learn more? Visit:
https://thesavvyinvestor.ca/power-team-realty
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Disclaimer: The views and advice expressed on this podcast are those of the participants and do not necessarily reflect the opinions or beliefs of the podcast host or affiliated parties. The content is for entertainment purposes only and should not be considered as professional financial, legal, or investment advice. Listeners are encouraged to conduct their own research
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