Any reviews on privatedirectlending.com

3 Replies

I got an email from this company today privatedirectlending.com.  Does anyone have any experience with them?  Are they legit?  Just a scam?  Any info appreciated.  Thanks.

Hi @George Despotopoulos .  Thanks for reaching out.  I'm looking to finance mostly turnkey rentals in NJ between Ewing and Burlington.  I have a current direct mail marketing campaign with an end goal of seller financing.  However, when the super sweet deals present themselves without seller financing and they will, I will need other means of funding the deal.

@John S Lewis - if you don't qualify for conventional financing, there are other options: hard money / bridge loan (these will be short term interest-only loans, usually 12 months, and the interest rate will be 10-14%) and rental property loans (longer term, 6%-9.9%, 30 year term, usually arms). With hard money loans you can refinance into a longer term once you have market rent in place. 

Seller financing is always great, and easy, but is not always as available, which is why specialty lenders or non-bank lenders are a great option, as well as private lenders (private individuals lending their own capital). 

George Despotopoulos

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