International Private Money Lender

[Sara Barb]

Curious to see if anyone has used a Private Money Lender from outside the U.S. I am communicating with a gentleman from Canada who would like to invest in us, 0% down and only 5%-7% interest, depending on the deal. Meeting with my CPA and Attorney this coming month, but I would love to hear of any experiences you all have. Was it structured the same as a local lender? Were there any hurdles you had to leap because the money came from outside the U.S. Any insights would enormously helpful. Thanks!

[Frank Y.]

@Sara Barb I would be honest with you. The deal seems too good to be true. 5-7 % without points is very low for PML. How will the lender evaluate your deal? What will the lender do if you default? You can keep talking to them, but run away whenever they ask for upfront money.