Looking for some information on hard money lending. I understand it's private money and how to find it, but I'm looking for information on the mechanics of how people use it. For instance, are people using it on a per deal basis, or are they using like an as needed line of credit? Is it administrated through any type of 3rd party or is it handled directly between the two parties? How about the peer to peer lending websites are people having good experiences with those?
Any input appreciated!
HML is usually a lending company.. so no different than how a bank operates.. only more expensive.
many HML are now advertising themselves as private money lenders.. the only reason they do this is the inference that their rates would be lower.
Each lender handles their portfolio differently but suffice it to say most service their own loans.
I guess I should clarify, We don't have HML companies in Nebraska, probably because there isn't enough demand to justify a company getting set up to do it. We do have private money lending individuals that we refer to as hard money lenders.
We do have a HML/PML lender right here in Lincoln, NE. 200 Capital!! Be sure to call me if you are interested in getting a short term loan. Very easy to get financed and of course it is all deal based lending.
I know you guys started doing the PML, I'm just trying to curious to learn more about the ins and outs of it.
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