I recently came across privatemoneygoldmine which has lists of private money lenders. It looks different than most list generators since it claims to have a list of people in my area who have actually signed up on their website specifically saying they have money right now that they are looking for someone to lend to as a real estate investment. On my side, there is a list of names, how much each person has said they want to lend (ranging from $5k to over $1m), and the interest rate they will be asking (I've seen 5-30%). If I pay a one-time fee of $97, I get the contact info of each person currently on that list. And for a monthly rate thereafter, $29, I get updates every time a new lender signs up.
So, has anyone heard of this website? Is it legit? What has been your experience with sites like this? It seems like most sites don't give you any more than a public records search would yield, but this site purports to connect with you with people who actually have money to lend right now. I'm all about networking and building a good investor list of my own, but this could be another good resource. What do you think?
Thanks in advance!
you can try but those list are usually not very fruitful.
private lenders are those known to you.. anyone who advertises on that list is a HML that's the definition.
and of course in Oregon for a loan on a 1 to 4 unit the lender must be state and NMLS licensed to hold them selves out as a lender.. you can have 3 loans in one year without a license but no advertising at all.
these are folks you meet at your reias..
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