Where can we find private or portfolio lenders in our area or nationally?
Is there an easier way to connect with these lenders or is it more of a chance meeting that happens in REI circles?
Any help would be appreciated.
I haven't talked to a representative at either institution seriously about portfolio loans yet; I just asked conversationally over the phone, but I believe Mountain American Credit Union and Norther Nevada Credit Union do offer them to repeat/trusted clients.
BP podcast 134 a few weeks ago featured BMX rider Terry Adams. In his REI model he uses an "unsecured line of credit" with a local bank that he has continuously built a relationship/trust that has allowed him to be more flexible that even portfolio loans. Since they are successful with their business model, the bank keeps raising the limit on their credit line.
This might be a similar option to portfolio lending to start small and eventually grow.