All Forum Posts by: Rohme Williams

@Matthew Neisser these are some of the questions I have asked. You added a few I do not ask however. This is great information. Thank you very much for your response. Much appreciated.

@Mike M. Thank you. That's probably where I should focus to get private money. Much appreciated.

@Jay Hinrichs thank you.

@Tom Shallcross thank you for your insight. Very valuable information. Much appreciated.

@Tom 

@Tom Shallcross upfront as you pay us $XX so we can proceed with giving you the loan.  The origination cost (points) I don't have an issue with.  Giving someone upfront $XX before you proceed, I will not do.

Thank you very much for your response. I appreciate it very much.  

Do you happen to have any links to reputable HML that don't require money out of pocket. I have a property under contract and now need funding.

So I have been vetting private money lenders from a pretty reputable website and have asked multiple questions about how the process transpires.   In the experience from all of the investors here on the BP forums that have used private money, what is the process for private money lenders?  I can understand that they want to know that you have skin in the game by paying certain fees and origination costs.  However, I was of the understanding that origination fees are paid at the close of Escrow.  Should you pay any fees up front when it comes to a private money loan??  Please, any advice is good advice. 

@Valerie Poynor congratulations on the first deal.  I too am looking for my first deal.  I have made 3 offers, however, I didn't get the deal.  All good, I will soon.  Hope to see some more cool posts. 

@Salvatore Lentini this is great information.  I have definitely taken the steps to vet any private lenders and have made arrangements to sit down with a real estate attorney.  I have gone to a few meetups here in my area, and like you, have found out once you let people know that you have deals and are looking for a "private lender", all sorts of people are interested.  I just want to make sure that I am dealing with a true private lender.  I guess getting burned once in a business deal makes you a little cautious when walking into another business venture.  

Thank you very much for the response.  I am sure that soon enough I will have the lender I need.  I have mutliple deals and need to act on them before they slip away.  So time is of the essence. But due dilligence is the key to success. 

How do you get a private lender, and where can you find a legitimate private lender that's not a scam?

@Charles D Cruz thank you.