How To Invest In Real Estate And Operate A Hard Money Lending Business with Chad Chiniquy

Founder of IMC Money, Chad has been a real estate investor and hard money lender since 1993. With over $3.5 billion funded in real estate transactions, he specializes in providing straightforward lending solutions for fix-and-flip and buy-and-hold investors. Based in San Diego, Chad balances his successful business with family life.Episode HighlightsIntroduction and Chad's BackgroundBorn in Southern California in the late 1960s, one of 14 children. 🌴👨‍👩‍👧‍👦Attended BYU, studied communications and business, and began working for a real estate consulting firm. 🏢📚Dropped out of school to pursue real estate full-time, founding IMC Money in 1993. 🚀Funded over $3.5 billion in real estate transactions, continuing to flip houses and lend money for real estate deals. 💰📈Starting in Real EstateInspired by late-night infomercials, Chad joined Dave Del Dotto's sales team. 📺💼Began flipping houses on the side while working, eventually quitting to focus on real estate full-time. 🏠🔄Learned the mortgage business from the ground up, founding IMC Money to address financing challenges for investors. 💵🏢Business Purpose LendingSimplified Loan Process:Provides 90% of the purchase price and 100% of the rehab for fix-and-flip projects. 🛠️💸Business-to-business loans using real estate as collateral. 🏠🔒No W-2s, pay stubs, or income verification required. 📑❌Fix-and-Flip Financing:Minimum loan amount: $100,000, Maximum: $2.5 million for first-time investors, up to $10 million for experienced investors. 💵📊Operates on a reimbursement model for rehab costs, ensuring investors have the necessary funds throughout their projects. 🔄💰Loan Terms and Interest Rates:Competitive interest rates ranging from 7% to 12% based on investor experience. 📈💼Terms typically range from 5 to 10 years, with options for 30-year amortization. 📆🏢Real Estate Transaction DiscussionCollateral and Security:Hard money loans secured by placing a lien on the property. 🏠🔒No federal guidelines involved; strictly business-to-business lending. 🏢🏠Loan Requirements and Qualifications:90% of the purchase price covered, 100% of the rehab costs. 🛠️💸Maximum loan amount depends on ARV, with a focus on deals having at least a 30% gross profit margin. 📊📋Moonlight Coaching QuestionsBalancing Business and Life:Emphasizes spending leisure time with family and enjoying life outside of work. 🌅👨‍👩‍👧‍👦Continuous learning and strategic planning for long-term success. 📚🔄Understanding Loan Metrics:Important metrics include ARV, ROI, and exit strategy. 📈🔍Uses appraisals and inspections to ensure property value and protect all parties involved. 🏠🔍Connect with Chad:Website: IMC Money 🌐Email: [email protected] 📧TikTok: Flipping Today 🎥Facebook Group: Flipping Today with 135,000 members 📱Click On This Link For Our Free E-Book "An Introduction Into Apartment Syndication: https://moonlightcre.com/ebook_download/Website: ericlindseydiversify.comClick On The Link Below To Schedule A Call With Eric:https://calendly.com/moonlightequitiesgroup/scheduled-conversationClick On The Link Below For More Information About Eric Lindsey:https://linktr.ee/ericlindsey