Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

161
Posts
163
Votes
Rob Hakes
  • Murray, UT
163
Votes |
161
Posts

New Investor / Private Lender

Rob Hakes
  • Murray, UT
Posted

Hello BP! I am a long time lurker, first time poster from the Salt Lake City, UT area.

I have been studying many different aspects of real estate investing and am wanting to get started on the lending side.  I was hoping to get some input on the basics of being a private lender.  Does anybody have any input for a regular dude that wants to put his money to work?  I am wondering

-who are the best players to network with to find good projects? Loan/mortgage brokers/?

- what laws do i need to worry about as a PML?  do i need to worry about usury laws?

- What are some common pitfalls that a lender finds themselves in?

-What are the market rates that Lenders charge for a short term deal?

I only have a little bit to probably do one job or a portion of one job at a time, so i don't want to lose on my first deal.  I would be looking at primarily doing short term deals (fix and flips)

Any feedback is appreciated. Thanks

Loading replies...