All Forum Posts by: Paul Gage

Hello Bob E: While I like the idea of a longer term which typically comes with these notes, aren't the interest rates quite a bit lower vs. HML or Private Loans? I would also be interested in advice on where to go to get some education on these notes and the opportunity. Thank for the ping.

Heather:   I have considered this in the past, but heard that this was VERY competitive now with hedge funds jumping in....what is your experience?

Glad to hear of your success, Larry.   You were very wise to check it out carefully.   I hope you have continued success!!!

Hello Larry:   Yes....I looked at some of the turnkey outfits also and they seem to be reasonable, however, most of these are out of town and I am uncomfortable owning a property remotely.  How has your experience been.   I am considering Homeunion.   

Once again, Fred....thank you so much.   Great advice and very much appreciated!  

Wow, Fred!   This is way more than I had hoped for in terms of advice!    Thanks a bunch.  This will be extremely helpful for me as I move into private lending or flipping a few homes.   I used to build houses in college for a GC, so I understand the building process.  I also acted as my own general and built a home in Wisconsin, so I do know the ins and outs of building/subs/estimating, etc.  I think I could do this myself, but I hope to find a really good broker who will handle all of the details to protect me.   I am sure they are out there.  The bad ones won't be in business for long...yes?    I have lots to learn on the lending and legal side.    Any ideas on how to find some smaller deals to get started after I meet with legal counsel?

Fred T:   Thanks so much for the wisdom.   I definitely want to be careful.  Already have a good CPA (my brother) and have an appointment with an attorney who specializes in Private lending.   I am wondering, however, if just using a broker isn't easier and less risky.  They already seem to have the knowledge and experience that I lack.   Thoughts?

BTW...the reason I like hard money lending is that it is secured by the property...and if all went poorly I would have a good property to keep and rent/hold.  

I am a Newbie (sort of) from High Point, NC.  Ran manufacturing businesses for 30 years and did fairly well.   "Semi-retired" and looking to put some cash to work.   While I got really excited about real estate at first, I am finding that the returns come with a great deal of work and when you consider the time needed to be successful, I am not sure it is worth it.   I am actually more intrigued lending hard money as this seems to be more lucrative with less hassle.   Would love to "buy and hold" or flip some properties, but can't really make the numbers work when considering the time it takes to manage this.  I don't want another job with headaches like poor tenants (I have read the books about how to get good tenants, but this is not fool proof) and mtc. problems.  Comments would be welcomed.