What are the differences in private lending in Indiana vs Cali?
Hi all,
I'm a real estate investor in California, but I also own multifamily in Indiana. I have a private lender here in California that lends against homes that I flip. He's always been resistant to lending on anything in Indiana because he doesn't know or understand the state. And he doesn't want to have to learn a whole new set of rules, regulations, etc.
However, he's now open to doing a few small refi loans for me on some houses in Indiana that I own. What he's asking for is for me to put together a summary of all the things he needs to know in order to provide loans in Indiana. Essentially, it's on me to educate him on all the aspects of providing private loans in Indiana to him, and he can make a decision from there.
Does anyone have information or resources you can point me to, in order to learn about what is involved when providing private loans against real estate in Indiana? I can do some google searches, but it always helps to learn from someone who is knowledgeable on forums like this.
Thanks!
James