Hard Money Lender - Franchise?

Question

I only found one in my online searching (770 Hard Cash). Does anyone know of a HML Franchise? I want to get going in HML (lending out), I think I have all the components down, but wanted to see if anyone offered a streamline package that could help give me a leg up from the beginnging. I have a background in RE investing over the last 5 years and wanting to broaden my horizons. Thanks!

Justin Robert · Answer

@Jeff S.

Thanks for your answer and candor. I suppose what I am after I already have for the most part, really just trying to be able to plug and scale a little larger from the beginning.

Not looking to be a glorified salesman per se, unless that was to get my feet wet on the mechanics and realities of HML then branch off fully in the near future.

Jeff S. · Answer

Yet another scheme to charge you money for the privilege of referring clients.  Others do this as well.  One calling it a “certified” broker program, which is meaningless.  Why would you pay any lender to send them borrowers?

If you go to the website of many of the larger private/hard money lenders, which you can find through Scotsman Guide, you’ll often see a link to become an “Affiliate.”  This is legal in many, but not all states.  It’s really a commissioned salesperson.

Here, the lender will provide their criteria you can offer to potential borrowers.  There should be no cost to you to do this. Since you are representing their company, the lender will freely provide all the information and training you need to solicit loans on their behalf.

Many of those on BP who call themselves lenders are actually affiliates for larger private/hard money lenders.  There’s nothing wrong with this, so long as it’s legal in the state your soliciting borrowers.  You don’t pay a $19,950 franchise fee to do this, @Justin Robert.