Starting a Hard Money Lending Business
Looking for advice and direction on getting this business. For starters I will be lending my own money and over time will took to invest with others.
Thanks for any support or direction.
Most Popular Reply
Get a great attorney, Learn the laws about lending and usury and have your bs detector on high.
Advertising yourself as a lender as I have done seems to bring every scammer out of the woodwork using every fraud imaginable. If you don't know all the ways you can get taken, you will quickly learn them. Hopefully not the hard way.
I found it pretty exhausting as an individual trying to vet deals myself. It is sort of like being the dept of homeland security. You have to stop every single terror threat because if you only stop 95% you are out of business.