Updated about 11 years ago on . Most recent reply
Private Lending
Hi all, haven't been on for a while as I've been busy with life. I am curious about private lending, primarily how to start lending money. Where can I offer my money here to those looking for short term loans? Sorry if this is a newbie question or an inappropriate place to ask...thanks for any and all input.
Most Popular Reply
@Eric Siu welcome to the site!
1. Offer in the Marketplace.
2. State where you are looking to make loans (what states).
3. State what interest rate you are looking for.
4. Indicate what projects you will be loaning on (flips only, buy and hold, etc.).
5. Indicate what type of experience level the borrower needs.
6. What term are you looking to loan for? 6-9 months, a year, multiple years, etc.
7. What is your maximum loan amount per borrower?
Hopefully this helps you get started. Good luck! Anytime you say you have money there will be lots of people chomping at the bit but if you put down specific criteria that should help narrow the playing field.