Private and Hard Money Lending Advice

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Mike GrudzienPro Member
Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
1y

For the long term, it would behoove you to network locally and develop relationships IRL.

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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    1y

    Seems like they have some Google Reviews. What is giving you pushback from moving forward?

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  • Andrew Jones
    OP
    Member since 2023 · 21 posts · 11 votes
    1y

    We never worked with a private lender before. We would like some honest real life experience/reviews from anyone that has worked with this company. 

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    • Erik EstradaBusiness Member
      Lender · Member since 2022 · 6k+ posts · 1k+ votes
      1y
      Quote from @Andrew Jones:

      We never worked with a private lender before. We would like some honest real life experience/reviews from anyone that has worked with this company. 


       I have not personally worked with the company, but a few things you should do to protect yourself: 

      1. Look for licensing, reviews, etc.. 

      2. Do not pay for any upfront fees except the appraisal. 

      3. Ask for a Loan Estimate Prior to moving forward 

      4. Always have everything in writing (terms, etc..) 

      5. Ask for a timeline and make them accountable. 

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  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    For the long term, it would behoove you to network locally and develop relationships IRL.

    1Reply
  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    Yes you could find folks on line, but if you develop connections in your local market, you can go back again and again.  Maybe find investment partners.  People do business with people they know.

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    • Andrew Jones
      OP
      Member since 2023 · 21 posts · 11 votes
      1y
      Quote from @Mike Grudzien:

      Yes you could find folks on line, but if you develop connections in your local market, you can go back again and again.  Maybe find investment partners.  People do business with people they know.


      Thank you for the advice. We're from California and still new here in Iowa. Do you know of any REIA's or any other real estate investing meetups in Iowa?

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  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    No I don't.  But you might be able to use "Google" for searching in your local market.

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  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    Or call around to find experienced realtors that work with investors and continue networking....

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  • Stanley Yeldell
    Member since 2025 · 116 posts · 52 votes
    1y

    Hi Andrew, great question—always smart to do your due diligence before working with any lender, especially in the private lending space.

    I’m a private money lender and broker myself, and here are a few red flags to watch out for with any lending site or offer:

    ✅ Upfront Fees – Be cautious if they ask for large fees before issuing a loan. Legitimate lenders typically deduct fees at closing.

    ✅ No Verifiable Track Record – If you can’t find real investor testimonials, active deals, or public loan records, proceed carefully.

    ✅ Non-personalized Communication – Generic or overly scripted emails (especially with grammar issues) can be a red flag for scams.

    ✅ Wire Transfers to Individuals – Never send money to a personal account—loans should be handled through escrow or closing attorneys.

    I haven’t personally worked with Breclaw, but if you’d like help vetting the lender or comparing with others I know, feel free to reach out. Better safe than sorry when it comes to your deal capital!

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  • Cam SchwartzBusiness Member
    Lender · Chicago, IL · Member since 2024 · 102 posts · 48 votes
    1y
    Quote from @Andrew Jones:

    Has anyone ever heard of or did business with Breclaw Lenders? We've been looking for a Private Lender to fund one of our projects but we never worked with a private lender before. We came across this company https://www.breclawlenders.com/ and we would appreciate any advice or feedback that any has to offer. Thank you. 

    Hi @Andrew Jones,

    We're also local to the Chicago area and have not heard of Breclaw. How did you get in touch? FYI one of our clients develops new construction in IA and we'd be happy to put you in touch.

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  • Deborah Wodell
    Lender · Sanford, NC · Member since 2024 · 348 posts · 116 votes
    1y

    Haven't used or know of them. But if you'd like to know more investors lending their own funds, best to join a local group, you can try finding them on facebook or other sites if there is one. 

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  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 650 votes
    1y

    Guys like this are a dime a dozen.  They are a broker.  How can they do Private Money and Hard Money?  What?  When they lend capital they choose what the label is?

    You are dealing with a broker.  What is the origination fee?

    I'd bet 1k right now they are hustling loan products of other lenders.

    Websites mean nothing.  Everyone breaking in and looking up websites, that means nothing.  Every non legit person, first thing they do is a website.  They know it legitimizes themselves in the minds of others.  Maybe Breclaw Capital is super real and it is real private capital from an individual with low origination and fair rates.  Maybe.  I don't know.

    I compare the HML/PML space to selling vitamins or pharmaceuticals. Anyone can sell the product, they are not scarce resources. It's more in the marketing and sales technique than anything else.

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    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      1y
      Quote from @Mike Klarman:

      Guys like this are a dime a dozen.  They are a broker.  How can they do Private Money and Hard Money?  What?  When they lend capital they choose what the label is?

      You are dealing with a broker.  What is the origination fee?

      I'd bet 1k right now they are hustling loan products of other lenders.

      Websites mean nothing.  Everyone breaking in and looking up websites, that means nothing.  Every non legit person, first thing they do is a website.  They know it legitimizes themselves in the minds of others.  Maybe Breclaw Capital is super real and it is real private capital from an individual with low origination and fair rates.  Maybe.  I don't know.

      I compare the HML/PML space to selling vitamins or pharmaceuticals. Anyone can sell the product, they are not scarce resources. It's more in the marketing and sales technique than anything else.


      except the 14 states that require licenses of course..  but yes trusting brokers to get you HML is a very risky propisition unless said Broker is well vetted up front
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  • Jennie Berger
    Lender · Chicago IL · Member since 2020 · 357 posts · 229 votes
    1y

    @Andrew Jones Some good advice here. I'd start by asking them for some borrower references. Three people they have funded loans for within the last year or so. Then, speak with those borrowers (video chat or on the phone only, no text/email) to get some good insight into their experience with this lender. You'll want to validate that they actually did business with this lender sucessfully, too, so ask for some sort of proof, like a HUD statement or similar.

    Good luck!

    -Jennie

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