All Forum Posts by: Lloyd Dixon

Curious to hear from anyone that has had success prospecting FSBO's? Statistically, the majority of FSBO's end up turning to a real estate agent so we all know there is an opportunity to be successful here but what are the best approaches? I have checked out some YouTubes and websites that offer scripts...but what angles have been successful for anyone else? Outside of searching newspaper ads, is anyone finding success with companies that offer leads to FSBO's (Zillow, Fizber, Redx, etc) or prospecting directly from online sources like any of the above, postlets, craigslist, etc?

I would also try ByOwner.com, Fizber.com and check out local newspaper ads which is a traditional marketing approach that hasn't changed for FSBOs...

Arcinio - The most reputable FSBO sites that I have come across are ForSalyByOwner.com, Fizber.com and Owners.com. Those are the big three in my mind.

Fizber.com is the best in my opinion. They have everything: a free listing option, paid listing options (if you need the extra tools, service) and flat fee MLS option (as James mentioned above, this is a great way to get the sale information out to the market without having to pay a listing commission).

ForSalebyOwner doesnt have a free listing but like Fizber.com has paid listings and an option for flat fee MLS as well. I think they have been around the longest of the three but I found their options to be inferior to Fizber.com.

Owners.com is basically a flat fee MLS only site. Worth checking out if you plan on going the flat fee route. You may want to compare pricing across all three sites to see who has the best flat fee offering.

Hope it helps.

For those that have been monitoring this thread, like I have, Money360 apparently has revamped their website and has been actively closing commercial deals. They recently announced funding a $2MM loan through their "peer-to-peer lending platform" and project funding $25MM before the end of the year. 

Curious if anyone on BP has recently applied for a loan on the new site? Their most recent funding was a 120 unit apartment complex in Missouri so they are nationwide. Hoping to get some feedback before going through the loan application.

Here is the press release I found: http://www.marketwired.com/press-release/money360-closes-2-million-commercial-real-estate-loan-on-peer-peer-lending-platform-1952996.htm

Just sent you an email. I also know groups that are specifically looking for rentals. My contact information is on the email.

Don - I am personally a believer in the future of peer to peer lending. Banking as we currently know it is a broken system. Private individuals and investors aren't being offered attractive rates from banks and borrowers are unable to get financing when they need it most. I have been shocked to see people I know that have loans maturing with equity or own properties free and clear that can't get financing through a bank for one reason or another. With consumer credit so tight, there is a need for something more and peer to peer lending responds to that need for both borrowers and investors.

The internet and social networks enable peer to peer interaction on an unprecedented scale. People are able to connect with each other and put together deals that make sense without the middle man and peer to peer companies, like Lending Club, are flourishing because they can offer loans when banks can't and can even offer better loans than banks in some instances.

There is definitely a niche right now as many people today are in situations where they don't meet the strict criteria that banks require BUT I personally see peer to peer lending as more than just solving a niche area. The current economic constraints are accelerating the growth of peer to peer companies and I don't think it is hard to imagine that companies like Lending Club and Money360 will be among the most important financial services innovations in the near future. I'm not saying these site will entirely replace the traditional banking system but the model has a bright future.

Tom - I recently checked out Money360 as well based on finding the post Phillip mentioned above.

So far I have been very impressed. This is the first and only Peer to Peer real estate lending website that I am aware of. The site is very clean and straight forward. I registered a week or so ago and have already been matched with over a dozen borrowers that meet my "lender preferences". The borrowers I have been matched with are typically requesting over 10% rates and a have seen a few opportunities in the 12-14% range.

Like you, I am very intrigued with the Peer to Peer model. I see this being the future of lending in real estate.

I have been looking for opportunities to invest in hard money loans and found this post. I just went to the Money360 website and was impressed with the clean format. Although I live in California, I noticed that Money360 is now nationwide. I am not sure when they began offering loans across the US but this seems to be a great opportunity for investors looking for hard money deals.

I just registered as a "lender" and will keep you all posted of the experience.

I'm curious, has anyone recently tried Money360? I imagine the CA only requirement limited the amount of investors but it looks as though the model was proven out and expanded.