Updated over 9 years ago on . Most recent reply
Looking for private lender in central Illinois
I'm looking at buying a few properties for rentals in central Illinois. And I'm looking to see if I can find somebody or get a referral for a private lender that lends there. I'm looking for loans around $30,000 with me putting 25-50% down.
Thanks in advance if you can help me.
Keep Smiling!!
Chuck
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Mindy Jensen
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Mindy Jensen
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A private lender is someone you already know, or someone that knows someone you know. Think about the people you know. Do any of them have money, or know someone who has money? Like, "my dad doesn't have a lot of money, but the guy he used to work for does." That sort of thing. These types of lenders can live anywhere.
With loan amounts so small, relatively speaking, you may want to start looking for a portfolio lender who will loan for several properties. This type of lender is probably going to be located near the subject properties.
What city in Illinois?
