How to make sure a private lender is legit?
I have been talking to several private lenders and for some reason I keep getting thrown for a loop. Everything starts off seeming legit and then things turn and I start second guessing the lender. I have found two that have offered me a 5% interest rate on the loan and are doing payments back like a mortgage where you can choose the years. But one I found I looked into their state business search and states the business is suspended, so of course the type of person I am I start questing this lender and she state that her company is struggling over ownership. That to me sends a red flag. What's your opinion? Also what have you came across for interest rates in your lender deals so I know what is realistic when talking to private lenders?