All Forum Posts by: Udaya P.
Udaya P. has started 11 posts and replied 48 times.
Post: Difference between Private Lender and HML (Hard Money Lender)

- Investor
- Fremont, CA
- Posts 50
- Votes 16
Thanks for all of your advice.
Thanks
--uday
Post: Difference between Private Lender and HML (Hard Money Lender)

- Investor
- Fremont, CA
- Posts 50
- Votes 16
A follow up question.
How can verify that a private lender is "legitimate" ?
I am trying to deal with private lender, met through e-mail
and he is remote.
Private lenders is asking for upfront fees of approx. $2500.
I would like to verify the private lender, before paying the fees.
Is there a foolproof way to verify the legitimacy of private lender ?
Thanks
--uday
Post: Difference between Private Lender and HML (Hard Money Lender)

- Investor
- Fremont, CA
- Posts 50
- Votes 16
Can anyone explain me the difference between Private Lender and Hard Money Lender ?
What are the Pros and Cons of each ?
Usually, what will be difference in terms and conditions between them ?
When do you chose Private lenders vs Hard-Money Lenders ?
Any feedback and insight is appreciated.
Thanks
--uday
Post: PPI (Payment Protection Insurance) Policy ?

- Investor
- Fremont, CA
- Posts 50
- Votes 16
I have not met the lender. I talked to him over phone. Seller agent also talked to private lender over phone. He also issued my pre-approval letter.
Private lender needs PPI insurance from CNO FINANCIAL GROUP.
I am skeptical as well, but trying to take a chance with the lender, as private lender is providing more than 80% LTV for rental property. Lender provided the copy of Driver's license of the receiver of the funds.
Can I assume that this is safe transaction ?
Are there any red flags to watch out for ?
Any feedback/information is appreciated.
Thanks
Post: PPI (Payment Protection Insurance) Policy ?

- Investor
- Fremont, CA
- Posts 50
- Votes 16
Can BP experts educate me on PPI policy ?
How does this work ? Who does this protect ?
How the premium is calculated ?
I am trying to work with private lender and he needs me to buy PPI policy, before funding.
Is this normal for private lenders to require the borrowers to buy PPI policy ?
Any information on PPI policy and private lenders is appreciated.
Thanks
--uday
Post: Any feedback on Aloke Lohia - Lender?

- Investor
- Fremont, CA
- Posts 50
- Votes 16
Has anyone worked with Aloke Lohia for private funding.
I would like get BP members feedback, before I start working with him.
Thanks
--uday
Post: Loan process with Private Lender

- Investor
- Fremont, CA
- Posts 50
- Votes 16
How does the loan process with private lender works ?
- Can anyone let me know the step-by-step process of private money ?
- What is usual amount of points for private money ?
- What is the usual interest rate for private money ?
- At what point, we do we usually pay the fee ?
- How can we verify the legitimacy of private lender ?
Any suggestions or information is appreciated.
Thanks
--uday
Post: Look for Strategy/Suggestions to generate $10000 in Rental Income in 5 years

- Investor
- Fremont, CA
- Posts 50
- Votes 16
Thanks for the responses.
Private lending needs continuous work. I am looking for completely passive income, with no effort from me.
Regarding rehab, I do not have any experience with rehab. Being new, I do not want to take the path of fix-and-flip model.
I am long term buy-and-hold kind of person, looking to use the money in best possible way and not requiring me to put in any effort after 5-years.
Thanks for all your suggestions. Looking forward to use the money in best possible way to generate 10k/month passive income.
Thanks
Post: Look for Strategy/Suggestions to generate $10000 in Rental Income in 5 years

- Investor
- Fremont, CA
- Posts 50
- Votes 16
I have $100,000 with me.
My goal is to earn $10,000 per month in positive cash flow(Passive Income) in 5 years time frame.
I am a new bee and new to investing in real estate/rental properties.
I am looking for strategy/suggestions from all the experts in BP in order to achieve my goal.
Some of the ideas, I am exploring are:
-Buy 3-4 properties for 35-40k in mid-west, which generate $500-$600 positive cash flow
-Use 100k as down payment(25%) and use leverage to buy 1 or 2 properties in high priced areas.
-Invest in REIT or other funds
Any suggestion/strategy is appreciated.
All suggestions/strategies are welcome to achieve my goal of $10000 in passive income in 5-years
Thanks
--uday
Post: Look for Strategy/Suggestions to generate $10000 in Rental Income in 5 years

- Investor
- Fremont, CA
- Posts 50
- Votes 16
I have $100,000 with me.
My goal is to earn $10,000 per month in positive cash flow(Passive Income) in 5 years time frame.
I am a new bee and new to investing in real estate/rental properties.
I am looking for strategy/suggestions from all the experts in BP in order to achieve my goal.
Some of the ideas, I am exploring are:
-Buy 3-4 properties for 35-40k in mid-west, which generate $500-$600 positive cash flow
-Use 100k as down payment(25%) and use leverage to buy 1 or 2 properties in high priced areas.
-Invest in REIT or other funds
Any suggestion/strategy is appreciated.
All suggestions/strategies are welcome to achieve my goal of $10000 in passive income in 5-years
Thanks
--uday