Legitimate Hard & Private Money Lenders

[Nicole Romain]

First time posting and new to REI this year. I used conventional lending form my first 2 properties and am acquiring a 3rd using hard money. I received offers from a few hard money lenders and chose the best offer. My question is.. how to know if they're legitimate? The lender isn't on bigger pockets. I did internet research and am conflicted on my findings. What are your suggestions and experience with hard money? How did you vet the lender? Thanks!

[Andrew Garcia]

Hi @Nicole Romain, if they have an NMLS identification lender, they are licensed to lend. That is the easiest way to tell if a lender is legitimate. However, many hard and private money lenders are not licensed so it can be tough.

You can look up their reviews online. You can ask for references. You can do other suggestions from this thread.

Hope this helps! Let me know if I can be of any assistance.