Private lending for real estate, with Alex Breshears
Early in Dead Poets Society, we’re introduced to Dr J. Evans Prichard’s approach to measuring the greatness of a poem, a dual-axis model which plots ‘perfection’ against ‘importance’ and which immediately gets ripped up - because it is excrement. Luckily, I’m not trying to confine something as ethereal as poetry, so bear with me, and imagine a market for loans being described using two axes, with the horizontal axis showing the level of standardisation and the verticle axis showing the average values involved.
The top right corner is where we place standardised loans of relatively large values. Every lender would love to operate here - because it is easy to automate solutions and the rewards for doing so are high. But there’s not going to be enough space for everyone, so lenders will have to spread out: some to provide basic solutions for lower value but highly-standardised loans, and some to build bespoke solutions for customer high-value loans.
But who will provide loans that require significant customisation but offer as a reward, only relatively low values? Well, maybe you can, because this is the space where personal lending can thrive. In today’s episode, I speak to Alex Breshears of Lend2Live Learning, and find out how she provides capital to local real estate developers, and how she and her partner teach others to do the same.
First and foremost, the Lend2Live book launches today, and you can buy it here https://store.biggerpockets.com/pages/coming-soon?fbclid=IwAR1QazmmZp-1_9NTMyYIwjiLIv3fAOFv2SEdHSZpwxVExrxDHdB2v_TPp3o
But you can also head over to the Lend2Live Facebook group here if you’re just looking to dip your toes in for now: https://www.facebook.com/groups/privatelendinglessons/discussion/preview/
And as mentioned, you can also reach out to Alex directly on LinkedIn: https://www.linkedin.com/in/investpassively2liveactively/
You can learn more about myself, Brendan le Grange, on my LinkedIn page (feel free to connect), my action-adventure novels are on Amazon, some versions even for free, and my work with ConfirmU and our gamified psychometric scores is at https://confirmu.com/ and on episode 24 of this very show https://www.howtolendmoneytostrangers.show/episodes/episode-24
If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me via the contact page on this site.
Regards,
Brendan
The full written transcript, with timestamps, is below:
Alex Breshears 0:00
'Hey, do you want to write a book?'
She's like, 'yeah, we could do that'.
I had literally read every book on Amazon about private lending and nothing was action steps. At best, they were concepts and definitions - read like a VCR manual. And I'm like, okay, well, I can't just keep telling people, I'm sorry, there's nothing out there. And so it finally just came to me: you know what, we've just got to do it. You know, if we have the knowledge, it's our responsibility to get up there and help others who want the knowledge, is my opinion.
So the book is called Lend2Live.
Brendan Le Grange 0:39
Welcome to How to Lend Money to Strangers. Only today, it is your money you're lending, not your employer's.
Private lending is not an industry niche I'd heard of before, but its existence makes sense. If there is one thing I still carry with me from my MBA, it must be a fondness for a 2x2 matrix. Imagine one where we use the vertical axis to show the level of standardisation and the horizontal axis to show the values involved. In the gold star, top right corner, we've got highly standardised loans with high values. I'm not sure those really exist in the market, but maybe some mortgages in highly traded areas would get close. Then we've got viable markets for low value loans, as long as they're standardised (because at least automation can bring down our costs) and we've got a market for unique loans as long as they are high value (because then we've got some money to play with). But there, in the bottom left corner, sit loans that are unique and having relatively low value.
Say you want to buy that tumbledown cottage you drive past every day on the way to work, you can see its potential, what it could be, but on paper it's very high risk. It's hard for banks to serve that market at scale. They can't evaluate the property's value using generic models. They can't evaluate your plans without hiring a team of experts. And they can't monitor progress without boots on the ground. So banks don't do it. Unless you become the bank, and that's essentially what I'm talking about today, with Alex Breshears.
Alex Breshears, welcome to the show. Together with Beth Johnson, you're the force behind Lend2Live Learning. But you have an interesting path into private lending, so before we talk too much about what you're doing today, let's start with a quick overview of your life before private lending, and what you saw there that may be shaped where you are in what you're doing today.
Alex Breshears 2:55
Oh, yeah, my story is a little odd. But then again, it seems like no one sets out to do private lending with intention -it's something you accidentally come upon.
So my origin story is no different. I happened to run into a gentleman at a RIA event in Florida, where I lived at the time, and just making conversation because I'm a good southern woman and I've never met a stranger. He happened to ask what I was doing in college, I was an undergrad at the time, and I said 'I'm a chemistry major'. And he asked 'oh, so you gotta be good with math'. And I was like, 'yeah, you know, good ol' calc 3 so my math has more letters than numbers these days, but yeah, generally...'
He goes, 'have you ever thought of being a loan officer?' No, I'm in college for chemistry loan officer was not on my radar. But I had an interest in real estate, which is obviously why I was at the RIA meeting. So he explained a little bit about it, what it would entail, and then he says the magic words, you can work your own hours... and I was like, 'Sold! Whatever you want me to do, I can do it'.
And he was a private lender, who did some hard money loan brokering. So this is back before phones were smart, you know, people had pagers, you were faxing documents off to people - if anybody listening to this is old enough to remember what a fax machine is - you had to physically take cheques to people, and then those people physically had to take cheques to the bank.
So I'm seeing the people coming into his office, they're landlords, maybe they're in the middle of a fix and flip and you hear the horror stories about the contractors leaving with half the deposit, you know, the tenants moved in and haven't paid anything since but they're showing up at my boss's office on the first, paying their mortgage payment.
I always say you learn more when you keep your ears open and your mouth shut. And I was like, Okay, well my boss is on the golf course 90% of the time, is what it feels like, and then these guys are coming in and just doing nothing but complaining about how their investments are going and my boss is on the golf course. I'm like yeah, I'm gonna take that option. And just by accident, I happen to end up learning real estate from what I call the back side because if you're a lender, you obviously have to be able to underwrite these deals, make sure there's something you want to lend on. So before I even did my first fix and flip or before I even had a rental, I was well versed in underwriting because that was part of my job description with private lending.
Now fast forward, you know, 20, some odd years. And it was always something we had kind of done, my husband and I, we'd kind of done on the side, my spouse is an active duty service member so we move a lot - I'm currently sitting my 19th address in 21 years. And, you know, just everywhere we were stationed, you know, it may not have been a good real estate market for us to invest in, Hawaii, San Diego, Alaska, you know, they're just a little bit of a different market. So we would be capital partners, you know, maybe we'd do a loan for someone that was in the military in the area, they're doing a fix and flip or whatever, it was nothing super structured. But I at least knew enough to be dangerous.
But then when COVID hit, as many active investors probably realised, capital sources dried up, banks got very scary, they didn't know how to price in the risk for the loans, and two/ three days before closing, active investors were getting notification that the lender is not funding their loan and they're in fact shutting their doors and laying off 75% of their staff. So private lenders like me, our business went through the roof. And that's when I got a little more formalised with it, to say, okay, it's time to make a go of it, because there's so much demand out there for capital because of COVID.
Brendan Le Grange 6:27
That's quite interesting, because I've done an episode a while back now with Prestige Pawnbrokers - a higher end porn brokerage - and he's got a similar story where a lot of developers suddenly had their formal banking lines removed in the last financial crisis, and then had to come in and you know, bring in the luxury car or the painting, or whatever it was, they had to keep the money going. So they could at least complete the project, because you'd rather be trying to sell an expensive house than trying to sell a cheaper hole in the ground.
But before we go too far down the path, maybe it's worth pausing a little and just talking about what is private lending?
Alex Breshears 6:59
Yes, I'm glad you brought that up, because there's a lot of misunderstanding about private lending. So when I'm talking about private lending, I am talking about lending on real estate, non owner occupied properties, not your primary residence, it may be applicable to other countries, but I'm specifically speaking about the US. And you're providing funds for maybe the purchase of a renovation, you know, if somebody wants to do a fix and flip, maybe you're providing money for the purchase, and some of the renovation or all of the renovation, depending on, you know, what the numbers look like. So you are essentially playing the bank. And the nice thing about that is is a, it's very collaborative, you can create a win-win situation for both you and the borrower.
And also, it's very flexible. And then there's usually a couple hours upfront of doing some underwriting, doing some due diligence on the borrower on the property, making sure you're comfortable with the deal, the numbers, but then after that, it can be very 'set it and forget it', you know, just quick check-ins with your borrower that you kind of outline ahead of time. But other than that, I tell people, I have a business in a backpack, I can go anywhere in the world. My husband lives in Europe right now. I live in the US. I can throw my laptop in my backpack, and as long as I've got internet access, and electricity, we're good to go. I can do this from anywhere because most private lenders invest in their local market and I know my local market very well. As long as I have kind of some current relevant data of my local market, I'm comfortable doing it from pretty much anywhere.
Brendan Le Grange 8:28
Yeah. And there's some nice digital nomad visas going around these days, I think!
You talk about playing the bank, one of the defining characteristics of a bank is obviously that they've got lots and lots of money. So is private lending something only for ultra high net worth individuals, or is it something that people, just normal people on the street, can actually get into with a little bit of savings?
Alex Breshears 8:50
I would say you could get into private lending for a lot less than you think, depending on where you're choosing to invest and how you're choosing to structure loans. I would say $50,000 is probably a minimum, if you want to work with your own capital
Brendan Le Grange 9:03
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Alex Breshears 9:16
I usually say probably a minimum of about $50,000 would be a pretty decent amount to start with, depending on which business model you would like to pursue.
So for example, my business partner Beth, she calls herself a private money matchmaker. So she actually connects people with capital to people that need loans, and she's doing all the due diligence, she's doing the paperwork, the processing and everything, but it is those people that have the capital to deploy that are on the loan, you know, they are protected, the property is collateral for the loan. Versus someone like myself where I'm deploying my own capital.
But anything kind of below that, you end up being in a situation where you're potentially either in a second lien position - and that's not a great place for someone who's new to lending to be in. Or potentially in a situation where you're participating in what I would call a skinny deal. So there's not a big equity buffer. There's other individuals and I know other private lenders, they just formed a group. So there's actually five people came together became an LLC, everybody's got an equity ownership, depending on the amount of capital they brought to the table. And then they fund loans through that LLC together as investors and everybody's kind of got their roles and responsibilities within that. So there's, there's a myriad of ways to be able to to do private lending, it really, really just depends on your business model and what you're trying to accomplish.
Brendan Le Grange 10:40
You know, that's way less than it's going to cost to buy a house in, I'm pretty sure, any city in the US if you're wanting to invest in property, or at least, if you're wanting to get exposure to property as an investment. Before we talk too much about technicalities, you're not just private lending yourself, you're a big community builder in the space, a big advocate of the concept.
Why are you so positive about the idea? What do you see as the benefits?
Alex Breshears 11:08
Again, I always had that enjoyment of real estate, I liked the numbers, I just liked that way of investing. But with my spouse being an active duty service member, I was never in one place very long. And being a landlord for him to 3000 miles away, tried it hated it, we did a fix and flip, tried it hated it. So for me, ultimately, it really boils down to it fits into my lifestyle, it fits into my strengths and weaknesses. As far as a person time commitment, personality, just my general outlook on life. Like I've mentioned, private lending tends to be very collaborative. There's a lot of people involved in the process of closing, anybody who's bought a house in the US, you know, there's a lot of people involved in your closing, I enjoy that I want to talk to other people, I want to get other insight.
But when I started talking to other people and reaching out to other real estate platforms, there just wasn't a lot of information out there about private lending. Ironically enough, you know, Brandon Turner with BiggerPockets, his big thing was to go find a private lender to fund your deals. But then there wasn't any discussion on how to do that funding of the deal, which is why we ended up doing a book with bigger pockets, because there was that gap in the marketplace. And then also during COVID, the world shut down. You can't get together with people, you know, the RIA meetings that I had been attending, we're now posted on Zoom. But for anybody who's gone to a RIA meeting, you're not likely going to bump into somebody else who's also doing private lending. Because first off, you don't say that in public, because instantly you become the most popular person in the room and RIA meeting. So we kind of have to be a little bit of lurking happening there. But, you know, during COVID, not even that was happening. So I went out looking for community.
And every single group I joined online, it was a place for scams and spam. And I was like, Okay, well, now what do I do? And it was actually a dare someone dared me during COVID. They said, I want to start a Facebook group about private lending. I'm like, I have eight years of college education. None of it was in like digital marketing, you know, finance, graphic design, no. And they're like, just do it. And I'm like, fine, I did it.
And then about a week later, I had 100 people in the group, and I was like, 'oh, crap, I gotta do something with this'.
And then it just took off. In less than two years, we hit 7,000 people, I've found so many friendships, so many partnerships with total strangers I met on the internet, we routinely get together now a couple times a year, to just talk about best practices of private lending, we genuinely enjoy each other's company. So we now have that place in that space to come together and talk about our way of investing in real estate. Without the prying eyes of potential borrowers, we can really kind of dig deep and go, How do we do this? What would you do here? Man, that was the the big driver behind it, because I saw how much it impacted my life positively. And I'm like, there's gotta be other people. I know. There's other military spouses. There's gotta be other people that can appreciate having some sort of time freedom and geographical freedom and still invest in real estate.
Brendan Le Grange 14:12
You've now put that all together into a book, which will be launching today, the day that the episode comes out, 28th of July. So talk to us a little bit about that book, and where people can find it.
Alex Breshears 14:23
So the book is called Lend2Live.
We want to basically have a way to teach people in a systematic way to do private lending without kind of the traditional nomenclature because a lot of that can be very confusing and very overwhelming. So if we broke it down, step by step, came up with a very kind of easy pneumonic CPR method. So we have basically five steps that are all the C's, we talk about the people, paperwork, and property, which is our other piece and CPR. And then each step also we break down the risks and rewards that you need to take into account during the that particular step, we really wanted to make it 100% actionable, we wanted it so someone could read this book, feel at least relatively comfortable enough to reach out to an attorney to get all the legal docs kind of drawn up, understand the language of lending, or at least underwriting the type of borrower, you know, or the type of property that they want to lend on, and have some level of comfort. Not just kind of leave with, oh, the book said, go find somebody to lend money to.
We wanted to have actual steps, you know, how do you find them? what are you looking for? what are you looking for on that piece of paper? You know, it's one thing to ask for 50 different pieces of paper, but if you're not getting relevant information, or the appropriate information from those 50 pieces of paper, all you're doing is making both you and the borrower busier, you're not actually accomplishing anything. So we really dive into not only what to request, but why you're requesting it and what you want to figure out from that request.
Brendan Le Grange 15:56
Let's talk about Lend2Live Learning and the work you're already doing there with Beth, how did you two meet? Because sort of a bit of a spoiler alert I saw you'd actually only met once in person before the book deal?
Alex Breshears 16:07
Yes. So we routinely had educational events in the group, where we are doing open office hours now. So people can come and directly talk to us ask questions, talk about private lending, and she just kind of kept popping up. And then you know, we would have similar responses within the group. Again, we're great at lurking. So just kind of sitting back and reading, what the responses were, what are the considerations? You know, somebody posts a question in the group, you know, who's responding, how are they responding? What are they advising. You just kind of get a sense for people.
We ended up connecting over the phone, and both of us still remember this phone call. And it was just this 'aha moment'. Like, we had found the other half of what we were missing. You know, while we do get along, we are complementary in a lot of our skills. But we also have a different mindset about things. So we bring different things to the table. You don't necessarily want a partner. It's like yes, yes, yes, yes. You know, you want some it's like, whoa, pump the brakes. Have you thought about this? Oh, that's a good point. So we do a lot of that back and forth, just kind of naturally, and it just kind of organically grew from there. We would text, talk.
And then you know, I always got asked, 'hey, where can I learn more how to do this? What books do you recommend?' And I had literally, I had literally read every book on Amazon about private lending, and nothing was action steps. At best. They were concepts and definitions that read like a VCR manual. And I'm like, okay, well, I can't just keep telling people, I'm sorry, there's nothing out there. Like, you know, it's this group or nothing. And so it finally just kind of came to me where I'm like, you know, what, we just, we just got to do it. You know, if we have the knowledge, it's our responsibility to get up there and help others who want the knowledge is my opinion.
Hey, you want to write a book? And she's like, Yeah, we could do that. And I think she probably thought at the time, this was like, one of my hypothetical, I got a million ideas, and we'll execute a few of them. And then I came back to her a few weeks later, I'm like, hey, here's the first 50 pages, let me know what you think. And she's like, wait, what? She got to get dragged into this. But you know, again, that's having that complementary skill set where you can have someone push something forward, someone refine it. So it really became a work between both of us where you really can't see what I did and what she did. It's really a compilation of those two complementary skill sets, and thought processes about lending.
Brendan Le Grange 18:25
Now, I want to go back a bit to lending itself, I've worked 20 years in lending within the banks, lending somebody else's money. In private lending, you're lending your own money, so I think the risk controls are going to be doubly important when you're making those decisions - who to lend to, how much to lend, what the deal is going to be. How are you controlling for risk, how you thinking through a lending process before handing over your hard earned money?
Alex Breshears 18:52
So there's some very similar parameters to what people would call hard money loans. So you're going to want to stick with a relatively low loan to value. So for example, if the value of the home is $100,000, Most of us will not go past about 75% of that $100,000. We want to maintain that equity buffer. So the amount of capital we have lent on the property is not above what the value of that property is, especially if you're lending on something, think about, you know, a renovation, a fix and flip, if it's a heavy renovation, you know, they could be taking it down to the studs. And then if the loan defaults at that point, you know, to your point with developers, they want to sell a fully finished home, they don't want to sell a house down to the studs.
So you could end up in a situation where you owe more on the property than it's actually worth in its current condition. So keep it in mind kind of what their business model is. Is this a major gut job? Did this have significant fire and water damage and it's really going to basically be rebuilt. You want to make sure the property is worth at least what you have put your capital into it. Preferably, covering legal expenses, interest charges and all of that, but at least your capital will be able to come back.
So maintaining that equity buffer is usually a very, very high concern. And a lot of new lenders don't necessarily think about that. They'll say, oh, you know, I'm going to help out my, my cousin's best friend, and my cousin's best friend has a hard money loan for up to that, you know, 70%, and then they need some money for the renovations. And it's like, okay, well, you're gonna be in second lien behind a hard money loan lender. So now you're up at 80, maybe even 90 95% loan to value. If anything goes wrong, then your loan is automatically underwater, like anything goes wrong. And as far as the interest rate, a lot of that is going to be decided by a the marketplace. But B, there's a set of laws that are different in every state called usury laws. The usury laws are going to guide basically how much the interest rate could be what the fees could be. Sometimes cumulatively, you know, under what conditions you can lend, if you need a licence, what kind of property all these things. So getting very clear on what those lending laws are, will kind of help determine who your borrower is the type of property that you need to lend on, under what terms you can lend.
There's some other risk mitigation strategies that you can do, you can kind of write into place, making sure they have enough capital to actually do the deal. If you're saying, Okay, I'll cover all the purchase price, and it needs $50,000 worth of renovations, do they have access to $50,000 for the renovations, so keeping those kinds of checks and balances in place, and also experience, a lot of private lenders are going to want you to have had some level of experience doing a project similar to what you're currently looking for lending for. Maybe they're an accountant somewhere in an office, it's like, okay, well, yes, you have investment property, but you don't necessarily have fix and flip experience, you know, you've never done any sort of project management, you don't have that much knowledge and construction. So who is your general contractor? Is it someone I know? Are they experienced? Are they licenced? Are they insured?
So experience needs to be there, either through a partnership or some very key vendors, you know, possibly that I've worked with before to make sure that this project stays on on track, because last thing I want is a borrower that's going to be what I call a weekend warrior. So they have a normal kind of nine to five W2 job, and then they're gonna go work on the house after work and on the weekends. And it's like, well, if you have a spouse and kids and a rehab that you need to do, one of these three is not going to be there by the time the rehab's done, if the rehab ever gets done.
It's about having realistic expectations, both as the lender and as the borrower, you know, are you going to get a 24% annualised return? Maybe, maybe not? It depends on your state depends on the loan depends on if your first lien second lien, but also as a borrower, you know, if you have a $45,000 budget for renovations, but you think you're going to do it on the nights and weekends, you know, we're going to be here till the next apocalypse, because you're never getting that done as a weekend warrior.
Brendan Le Grange 23:10
It's important to call out that side of it. Because it can be tempting, I suppose to think about the character of the borrower, what's their credit history, like? Are they likely to repay us. But in this context, somebody could have the best of intentions, but simply not understand the property, your budget could get blown on something you never heard of. And no matter how well intentioned you are, even experienced developers are going to hit something every now and again. So to think through the loan, as this is a loan to this person, as well as the property is obviously a key part and you spoke about, in your case, doing it in the community, I feel like that's also a big part of it, that being able to shake someone's hand and look them in the eye sort of assessment, you know, making sure that you're part of that going to these meetings, seeing the people understanding what they doing. You can't sit back and just look at some numbers like you might on a stock investment.
Alex Breshears 24:03
Oh, absolutely. You're definitely a member of the community here. Because even as a lender, there's other ways you can add value to your borrower other than just lend them money. For example, if they have a contractor, and for whatever reason, nothing against contractors, but maybe they can't finish the job, or they just kind of disappear or they get injured, it happens to contractors, they get injured and they can't finish your borrowers project, having some knowledge of other vendors in your market to say, oh, you know what, I'm sorry, that happened. Here's Mark's number he's done projects for other borrowers in the past. He's great job, see if he's got any availability. Let's get this back on track, you know, we intended upon selling it, things have changed. Now we want to rent it. Do you have a property manager in mind or you know, that kind of thing. Being able to offer those connections to a borrower again, you're out there to create a win win situation. So if they succeed, your loan gets repaid, you can go and rinse and repeat. So it's in your best interest to try and work with these people that you are lending money to.
Brendan Le Grange 25:02
Yeah. And so that's the benefit to the borrower as well. You're not just the cold face of the bank manager in a multinational branch, you're a part of that community, and I guess that means you're a little bit more flexible to be more approachable. So in terms of the borrowers looking for money, how do they find you, you talked about the difficulty of being tagged as a lender and then suddenly having you know, when people talk about winning the lottery and cousins, you've never heard of appear out the woodwork.
But how do you find the people that you're lending to?
Alex Breshears 25:35
Like I said, before, we're very good at lurking, I joke around that private lenders take the 'private' part very seriously. And we're like the world champions of hide and go seek. But oftentimes, people's first private loan, their first private lender, is going to come from someone in their network, it's going to be friends, family, it's going to be a coworker, they're gonna hear about what you're doing, they're gonna they're gonna see you listening to podcast every day on your lunch break, you know, they're gonna ask questions.
So if you sit down at lunch across from, you know, a co worker, and they're like, Hey, I saw on Facebook, you got this property under contract, what are you doing, and you say, oh, you know, I'm gonna do fix and flip, I'm gonna do this, I'm going to turn it into a rental, this is what I've done in the past, you know, but I'm looking for someone to be a capital partner, you know, I need $100,000 for about four months, until I can get conventional financing. And here's how the money is secured, you know, you have a lien on the property, I'm gonna get hazard insurance to protect the property, I'm gonna get lenders, title insurance to help protect you. And if you can kind of talk through the process. And all of the ways their capital is preserved, is safeguarded, and you know, the borrower is paying for it. So pay when you can start building that network as an active investor and say, look, I know something about private lending.
So a lot of it really is I hate to say it comes down to networking, but it's not networking to the degree of like, okay, I have your name and your number, and you attended this Zoom meeting, it's making that organic connection with the person and say, Hey, we met at this meetup a couple of weeks ago at the brewery, I heard you talking about some short term rentals that you own, do you mind telling me a little bit about that you just kind of organically hit it off with this person. And that's honestly how business partnerships are built.
Brendan Le Grange 27:18
Exactly. It's got a lot of echoes of the startup world way, early stage investors, they might put some money in, but they're gonna share their reputations, they're gonna share their networks, and that's what you're looking for. The money, sure it helps, but your angel investors are there to build the business with you. And it sounds like that's the role you're picking up. So if other people listening are inspired like I've been from this way, should they go to learn more? How can they join some of these communities that you've started? And then maybe we can remind everyone where to get the book today as well?
Alex Breshears 27:51
Yeah, absolutely. The main community that we run is called lend2live private lending lessons. It's on Facebook, you know, growing strong, we have daily discussions, people can post questions on there, for active investors, they can go and post on Fridays, you know, hey, we're looking for funding for this deal. We've had tonnes of people meet business partners, new private lenders, you know, it's really about getting out there and building a relationship with people. So it's not one of those like, just post it once and you got 10 private lenders knocking down your door, you need to be there be seen be heard.
I'm on LinkedIn. So please feel free to reach out on LinkedIn. And then the book, the book is available through bigger pockets, one of the largest real estate education and investment, social media kind of networks out there. And so you can get it directly from bigger pockets as well.
Brendan Le Grange 28:39
Perfect. I'll put all those links in the show notes as well. Alex, thank you so much for making the time. It's been an absolute pleasure.
Alex Breshears 28:46
Yes, thank you for having me. I appreciate it.
Brendan Le Grange 28:47
And thank you all for listening. If you enjoyed that, please do rate and review on your preferred podcast platform and share widely including on LinkedIn and while you they send me a connection request. The show is written and recorded by myself Brendan Le Grange, in Brighton England and edited with assistance by Kane Hunter show music is by Iam_wake and you can find full written transcripts now in several languages, show notes and more content at www.HowtoLendMoneytoStrangers.show
And I'll see you again next Thursday.