Private Lender Inquiry

6 Replies

Hey @Clint Weir , why are you looking to California for hard money. We have plenty here in town. If you go to any of the local meetups there will be several lenders. You know the local guys are for real. You see them, meet them in person and you can ask who they have helped with lending in the last couple of years. You can get real world referrals.

Dont go to these out of town and worse out of state people that you may never even meet. They are going to promise the world and it MAY all be a scam. We have plenty of lenders locally AND at great rates.

Are any local HML doing non-recourse loans suitable for retirement account investing? It seems like there should be a good way to match up folks looking to lend through their self-directed retirement accounts, and those wanting to borrow through their self directed retirement accounts.

@Rick Pozos Curious, what kind of great rates are the local lenders in TX giving?  I tend to be of the other mindset and primarily use national lenders.

@Patrick S. From what I've seen of HMLs that do non-recourse lending, typically it's a lower LTV and higher interest rate.

@Nghi Le rates are around 10% and 2 points. I personally have not used hard money in some time, but I know a few people who are lenders.

@Rick Pozos Seems like pretty standard offerings for a local HML. With the national guys, I've seen rates drop to the 7's and 8's with points as low as 1% for experienced investors. But it is often more of a headache working with the national guys than the local ones, that's for sure.