Attention Private Lenders: What are your must haves?

4 Replies

Have you received an exceptionally great deal packet that blew your socks off?  What made that packet so much better?What are the must haves vs nice to have items an investor gives you to consider lending on a deal?  Do you care about format, for example, it looks pretty and is contained in one file like a .PDF, or are you more concerned with data and don't care how it is presented, or blend of beauty and necessary data?  

I look forward to your input!

Finances, track record, the deal itself and market environment.

Asset and down payment and track record

too funny.. private lenders are not banks... they don't have to take your file to loan committee were those types of things may show value.

If I was you and your new.

here is what I would offer up..  just like your vetting a tenant.

1. credit report

2. criminal back ground

3. brief bio and track record.. if you have done deals copies of the HUDS when you bought when you sold proving your profitable.

4. your market and why

5. the specific deal.

6. copies of bank accounts proving you have some money.

That is a good thing to know especially coming from you. This discussion is great because it benefits most that need a private lender but aren’t sure what they need to present.

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