Private Lenders

[Jamal White]

Hello everyone my name is Jamal White and I'm new investor. I have a question regarding money lenders? What types of questions do you need to ask to make sure money lender is not a scammer?

[Darrell Shepherd]

Best thing to do is to talk to people that have used them before...

When you get in the game a little you can spot the BS a mile away, but starting out just know there are plenty of people trying to separate you from your money on the promise of easy riches.

Your true private lenders are people you cultivate from friends/family, etc. There are some private/hard money lenders at the REIA's, too. Just people that get what you do.

I've checked out the competition looking online, its kinda spotty, but there are some guys on there, basically just ask their rates and terms and what it takes to qualify.  Like has been said, anything more than a few hundy up front for an appraisal or something is a serious red flag.  We do $199, most wont pay for the appraisal, you'll need to.  Some ask for $2k and such up front, total scam.

I probably talk to 10+ people for every loan I do, part of the gig.