Paige Capital Group // Invest with me
Pod Summary
In this conversation, Trae Jacobs and Mel Fenner discuss various topics including personal branding, takeaways from a recent conference, Mel's background in technology and real estate investing, and his involvement in the Equity Exchange meetup and private money lending. Mel shares his experience as a private lender and explains the differences between private lending and traditional mortgages.
He also discusses the factors that determine interest rates for private loans. In this conversation, Mel Fenner discusses the benefits and challenges of hard money lending in real estate.
He explains how hard money loans work, the interest rates and fees involved, and the types of projects that can be funded. Mel also shares his insights on the current real estate market and the importance of building relationships in the industry.
He concludes by discussing his goal of starting a scholarship fund for minorities in STEM fields.
Takeaways
Personal branding can help individuals stand out and create a unique identity in their field.
Attending conferences and events can provide valuable insights and inspiration.
Private money lending offers flexibility and lower requirements compared to traditional mortgages.
Interest rates for private loans are determined by factors such as credit score, cash reserves, and experience in real estate investing. Hard money loans can be a valuable tool for real estate investors who need quick funding for their projects.
Interest rates for hard money loans are typically higher than traditional loans, but they offer more flexibility and faster approval.
Building relationships is crucial in the real estate industry, as it can lead to more opportunities and partnerships.
Mel Fenner has a goal of starting a scholarship fund for minorities in STEM fields to provide educational opportunities and support for disadvantaged students.