Private Lending for Rentals

[Nathan Frost]

Hi, does anyone have a way of getting in contact with Quest to find private lenders?  I find deals in my town but need to learn how to find private lenders for the deal.

[Rick Pozos]

If you are talking about Quest Trust Company, they have meetups in Dallas. You have to go and meet the people so that they will become friends and trust you and your deal. I have been to a few in Austin, Houston and a few online. I have met a few people. One couple just lent us some money for a rehab. Light rehab, great price, tons of equity. Everyone will have their own idea of what a good deal is and isn't. They did pass on a deal in the past. They said the area was too rough. It was. We borrowed from another friend, rehabbed it and it sold in just a few days.

My wife and I love to meet people and learn about them. That is why we make new friends so easily. Of course we tell them what we are doing in real estate also. When deals come up, we ask around to the many friends we have met over the years if they want to earn X.X% interest on their money that they have sitting in the bank(or at Quest Trust Co.).