Hi everyone, I'm interested in lending some money to fix and flippers and possibly other types of investors. Only thing is, I don't know how and I don't have much to lend. As of now I'm only comfortable lending around 5k. I figured that may be good for someone who has a small rehab or someone who recently ran into an unplanned problem during a rehab.
How would I go about finding someone and how do I make it legit?
Please if anyone is experienced with this any advice would be much appreciated.
If I were you I'd keep saving. $5k barely covers closing costs.
@Gabriel Guerrero Save your money. Even loaning money in first position comes with risks. But with only $5k to loan out, you’ll be forced to only loan in junior lien positions. And doing that, combined with no lending experience, and loaning to borrowers who have already “run into an unplanned problem during a rehab”, is a sure-fire way to lose your money.
@Kyle J. Thank you for the advice!