Is "Closing Cost Lending" a thing?
Hello everyone.,
I listened to an early episode of the BP podcast on "Hard Money Lending".
I'm preparing to purchase my first deal and I am running numbers on properties and planning my next deal.
My primary goal is to own a certain number of multifamily properties for cashflow and become a hard money lender myself.
Through this process I am putting together as much money as I can for deals.
So, during the podcast and thinking about how I can put together more capital, I started to wonder if I could earn fees like hard money lenders by loaning small amounts of money to buyers and sellers for closing costs.
My questions are...
1. Is closing cost lending already an existing business?
2. What resources can I research to get more information?
3. Does anyone here on biggerpockets have any experience in closing cost lending ?