All Forum Posts by: Amir Khan
Amir Khan has started 21 posts and replied 282 times.
Post: Contract for Private Lending
- Investor
- Coppell, TX
- Posts 304
- Votes 156
@Steve Balinski we prepare the mortgage and promissory notes for all our PMLs. Drafts are sent over for their review, and adjustments can be made if necessary.
So perhaps you can put the burden on the borrower to prepare the docs, and then simply have a flat fee agreement with your attorney for "review" of docs.
Post: What are your methods to finding Private money lenders?
- Investor
- Coppell, TX
- Posts 304
- Votes 156
@Fallon Gilbert I raise private money in a variety of ways using systematic tools and strategies. One of my main ways of raising private money is doing free online educational workshops. I do this in partnerships with SDIRA custodians/administrators.
Another way is by creating my own PMLs. Because of my systems, many "want to be" PMLs approach me and I do private money lending crash course for them. They then invest with me.
And yes, you can absolutely borrow $30K from PMLs. Feel free to DM if you have any questions...
Post: ADVICE NEEDED for Financing More Deals
- Investor
- Coppell, TX
- Posts 304
- Votes 156
Quote from @Ashley Meilunas:
@Amir Khan can you provide some advice on how to find PMLs?
Post: ADVICE NEEDED for Financing More Deals
- Investor
- Coppell, TX
- Posts 304
- Votes 156
Quote from @Maurice Roman:
Good afternoon,
I'm hoping someone can provide suggestions or advice on how to acquire financing for more rentals.
I currently own two rentals as well as my primary residence, and the banks I've reached out to, including the credit union that's financing one of my deals, said my DTI is too high. My two rental properties are cash-flowing between $400 and $500 each. My credit scores are in the mid-to-high 700s, and I earn a six-figure salary with about 3-4% utilization on my credit cards. I've also spoken to a DSCR lender, and they require 20-25% down, which I can obtain through a BLOC I've. Paying back the BLOC, along with a mortgage, defeats the purpose because the payments would be higher than the rents. Any suggestions would be very helpful.
Thank you
Post: Anyone Else Noticing Lenders Backing Out More Often Lately?
- Investor
- Coppell, TX
- Posts 304
- Votes 156
Quote from @Deborah Wodell:
Recently, I’ve been seeing more and more posts from investors saying their lenders backed out—sometimes just days before closing. It’s happening more often nowadays, especially with fix & flips and other investment deals.
It’s tough to watch good deals fall apart after all the work that goes into finding and locking them up.
Have you had a deal fall through because the funding didn’t come through in time?
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What did you do?
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Do you have backup lenders lined up, or a plan B?
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Have you shifted toward DSCR, creative financing, or private money to avoid the risk?
Would love to hear how you’ve been handling this lately—your insight could help a lot of people here!
Post: Private Money Lending
- Investor
- Coppell, TX
- Posts 304
- Votes 156
Quote from @Val Sundberg:
What’s the biggest challenge you face when seeking private money lending for your real estate projects?
If you can show your potential PML that you have established credibility in the specific REI strategy, everything else becomes much easier. My PMLs never ask me for credit scores or reserves.
Hope that helps..
Post: Tell me about your first private money deal?
- Investor
- Coppell, TX
- Posts 304
- Votes 156
Quote from @Steve Balinski:
Quote from @Amir Khan:
Quote from :
Hey share how you raised your first private money or how did find your lender? How did the deal go?
@Andre Brock that is a fair question and I hear this from beginner to more seasoned investors (like you) all the time.
I raise private money from people with self-directed IRA accounts. Instead of approaching them individually, I collaborate with custodians/administrator of SDIRA and conduct educational workshops about private money lending.
With this system, I have a constant flow of individual real private money lenders (not hard money lenders :). DM me if you have any questions..
Any idea how I can find local private money lending meetups or courses? I've found it so hard to find good info on private money lending and how to actually get started, not just what to do. I only have 1 REI group near me and they only meet once a month which makes local networking verrrry slow. I've posted on some local REI FB groups looking for attorneys that deal with Private lending, i found 1 and the cost was nearly 2K to get a contract. I emailed about 20 local REI attorneys, only got 2 responses. This is something I'd be willing to pay for a course.
Post: How did you find your PML partner?
- Investor
- Coppell, TX
- Posts 304
- Votes 156
Quote from @Asif Shahzad:
Quote from @Amir Khan:
Quote from @Asif Shahzad:
Quote from @Amir Khan:
@Taylor Dasch if you think big enough, you'll be able to attract all the PMLs you'll need. I do education workshops in collaboration with retirement account custodian companies. This brings in PMLs like clockwork for me. While I don't do fix and flips, many of my PMLs like to do both short and long-term loans. Reach out to me if you have any questions..
Hi, I am flipping the house in NY/NJ. I am looking for to buy 40-50 apartment building and looking for loan. what would you recommend. Thanks , Asif Shahzad, cell - 7187915768
Post: How did you find your PML partner?
- Investor
- Coppell, TX
- Posts 304
- Votes 156
Quote from @Asif Shahzad:
Quote from @Amir Khan:
@Taylor Dasch if you think big enough, you'll be able to attract all the PMLs you'll need. I do education workshops in collaboration with retirement account custodian companies. This brings in PMLs like clockwork for me. While I don't do fix and flips, many of my PMLs like to do both short and long-term loans. Reach out to me if you have any questions..
Hi, I am flipping the house in NY/NJ. I am looking for to buy 40-50 apartment building and looking for loan. what would you recommend. Thanks , Asif Shahzad, cell - 7187915768
Post: Private Lenders - Where to start?
- Investor
- Coppell, TX
- Posts 304
- Votes 156
@Shane Bishop great advise from many already. Unlike others though, I am not a private money lender (PML). However, I work with PMLs all the time and I'll be happy to share with you how I get my PMLs.
I found that for my real estate investments (a specific model), I needed PMLs open for longer term (5-years). Therefore, I decided to target people with self-directed IRA (SDIRA) accounts. I even help people with regular retirement accounts like IRA/Roth IRA and 401Ks rollover to a SDIRA account.
However, instead of targeting individual SDIRA account holders, I collaborate directly with custodians/administrators of SDIRAs. This is in form of educational workshops teaching their clients about using their SDIRA funds for private lending into real estate.
DM me if you have any questions..