New to Private Lending

[Phil Cecere]

Good afternoon,

I am new to the Private Lending space and have an opportunity to lend on a deal. Can anyone tell me what current interest rates would be for private money lending in the Northern Virginia area? Also, if anyone has experience with the type of common terms for a 6 month loan, it would be greatly appreciated.

Thank you for your time.

Phil

[Bobby Feinman]

@Phil Cecere

Hey Phil. I replied to this post shortly after you posted it but i must not have hit the send button lol. I am just "down the road" in VA Beach. As you are probably aware, there are a LOT of things to consider in addition to the terms. Do you have the proper loan docs to adequately protect yourself as a lender? If there is a rehab component to the loan, are you set up to properly inspect before funding a draw request? Do you have adequate time to properly manage and oversee this loan? The list goes on and on.

You also might want to consider investing in a Private Lending Fund where you can earn 9-12% on your investment without all of the responsibilities of a lender. Rather, let the professional lender work on your behalf. 

Hope this helps. Happy to jump on a call to discuss further