Considering A Private Loan? Here's A Crash Course On Private Lending

In this episode, Nate Trunfio shares a wealth of information on the domain of private lending.   Find Nate at https://limaone.com/nate/ --- Transcript   Tom: Greetings, and welcome to The Remote Real Estate Investor. On this episode, we have Nate Trunfio of Lima One Capital. This episode, we're going to cover a lot of materials focusing specifically on portfolio loans. All right, let's do it.   Awesome. And welcome to the podcast Nate. Thanks for jumping on.   Nate: Hey, thank you guys for having me. honored to be here.   Tom: All right, so before we get into the main content, let's start with a little bit about your background.   Nate: Sure, yeah, I'll try not to bore too many people here. My career in life has been spent in all things real estate related, and specifically financial services and lending, younger ish type of guy. So graduated college in the mid 2000s, and got right into the residential mortgage lending world sort of conquered a lot of that through becoming a top sales producer, than stepping into the management came very early on. So some great learning lessons as a leader and manager, 24 years old, managing people twice plus my age, and then really just continued on that path through just growing and climbing the ladder.   The residential lending space serves a huge need, but it's a lot of red tape and a slower sales cycle than what I was looking for. So I jumped out of residential lending into alternative b2b, ran to different private debt funds there that led to another big need of small businesses in dire need of capital, especially today in this COVID world. And then I found my happy home and private lending over the last four years was the president of a smaller company, prior to now being at Lima One where I run all the sales and marketing and throw my hat in the ring of just a lot of other areas just to help the business grow.   And my sort of inner inner driving question is always How can I make myself others people process and things better around me, and that's what just keeps me ticking every day and has led me throughout the journeys and stops in my career.   Michael: I feel like we're about to interview a Swiss Army Knife of residential real estate investing, this is gonna be super exciting.   Tom: So when you started, was it more in like traditional residential lending versus private capital?   Nate: Exactly, yeah. So learn through the red tape and all the rigmarole but you know, it's important in that world to be very knowledgeable and all the nuances if you want to be successful. But yeah, so when I was getting into financial services, it was very much a refi. Boom. So it was mainly focused on refinances to homeowners predominantly their primary residences, certainly to del purchase as well, with that got me you know, introduced to financing and real estate in general.   Michael: Were you involved in that space during the 08-09 housing crisis, Or did you exit prior to then?   Nate: That's when I got it right around there. So it was a great welcoming to all things, real estate,   Michael: And you still managed to become a Top Producing salesperson during that time?   Nate: Yeah, man, look, I certainly don't have the looks for those on video. I'm not, I'm not the smartest guy in the room. But my nack is I just I grind. I work hard. You know, I think that's the lesson to anybody younger in their career. You know, you don't have to have all the skills, knowledge and experience to be a top producer and anything. You just have to work your tail off.   Michael: Yeah, that's great advice.   Tom: That's fantastic. So let's learn a little bit about more about Lima one right now. So I've been to several conferences and somewhat familiar but for audience who have not heard of Lima, one capital?   Nate: Yeah, absolutely. So Lima, one capital is a premier private lender in the top three to five in the nation, we lend in 46 different states, our sole purpose and mission is to provide financing so