EPISODE 12: How Jon Chan Built his Wealth with Private Lending

In this episode of the Be Someone podcast, Michael Hong interviews Jon Chan, who shares his journey from corporate accounting to real estate investing. Jon discusses his initial struggles, the importance of networking, and his transition to private money lending. He emphasizes the significance of understanding the market, the BRRRR method, and the value of mentorship. The conversation also touches on the impact of social media in building a real estate career and the lessons learned along the way.Takeaways: The people you surround yourself with can change your life.Research is crucial before making real estate investments.The BRRRR method can be an effective strategy for building wealth.Family opinions can influence your decisions, but trust your instincts.Understanding property management is key to successful investing.Private money lending can be a lucrative avenue in real estate.Networking is essential for finding opportunities and resources.Social media can help you connect with potential investors and lenders.Always have a checklist when lending money to ensure security.Continuous learning and adapting are vital in the real estate industry.Chapters:00:00 Introduction to John Chan's Real Estate Journey03:37 Transitioning to Real Estate Investing06:27 The Burr Method and First Deals09:19 Navigating Family Opinions and Experiences12:28 Lessons Learned in Property Management15:27 Shifting Focus: From Buying to Lending18:13 Choosing Virginia for Private Lending21:40 Transitioning to Lending: A Personal Journey24:41 The Power of Self-Directed IRAs26:20 Learning the Lending Process29:57 Securing Loans: Key Considerations31:20 Leveraging Personal Networks for Lending32:40 The Importance of Social Media in Real Estate36:55 Identifying as a Real Estate Investor41:09 The Impact of Networking and Meetups41:51 Books That Change Your Course45:44 Giving Back: Sharing Knowledge and ResourcesHow to Get in Touch with Jon Chan:https://www.instagram.com/jonchanrei/https://www.facebook.com/jonchanrei/https://www.youtube.com/@jonchanreiIf you want to talk about deals or if you have deals in Houston area, DM Michael Hoang on his Instagram: @michaelbesomeone or shoot him a message at 832-301-9672 (text first before calling)#PrivateLending #RealEstateInvesting #FinancialFreedom #BeSomeonePodcast #JonChan #realestaterookie #biggerpockets #realestatesyndications #propertymanagement #outofstateinvesting #wholesalerealestate #privatemoneylender #realestatefundingsolutions #financialeducation #privatemoneylenders