Updated about 10 years ago on . Most recent reply
Private Lenders
For those of you looking for private lenders, call an IRA company and ask them about any clients that are interested in using their IRA fund for RE investing. Here in Houston we have such a company and I am on my way to check them out. Also, I attend on occasion the auctions that are held by the county, either foreclosures, or sheriff sales. Lets just say you have BIG MONEY there and you would never know by looking at the people, but they snatch up foreclosed property with CASH and the county collects the money THAT DAY. 500K in cash? No problem. People are there with the money! I am going to go back and see if I can't educate them on helping me with my deals. LOL And the equity I can get them, far exceeds what they are buying at the auction. They pay almost top dollar and there is very little margin left, if any in some cases. I think alot of them just want a place to park their money.....and get some appreciation. Now granted, this may be a little unorthodox, but its worth a shot! Just a couple of ideas that I am pursuing. FYI. :)
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You are very astute. I became a HML without that being my objective and loan funds for mortgage notes, construction loans, and flips, having discovered the opportunities through networking.