Are new investors googling lenders while pros stick to their go-tos?

[Ekaterina Lansky]

Hey BiggerPockets crew,

I’ve been curious about how investors tackle finding lenders. For newbies jumping into flips or rentals, are you hitting up search engines to find options, or is it more of a trial-and-error thing? What works or doesn’t when you’re starting out and don’t have any connections yet?

On the flip side, for those with some experience, do you tend to stick with lenders you’ve built trust with, or do you still shop around? Any stories of switching lenders that paid off (or backfired)? 

[Brian Cauldwell]

In my experience, most experienced investors have a lender or broker they trust, but are always searching for the best deal possible. Even clients I have closed 20+ loans for, I expect to be shopping around, trying to find the best deal. Ultimately, this space is about generating revenue. The space changes daily, and new lenders emerge all the time. New lenders come with risk, because you don't know their process.