I saw a service called private money gold mine, but saw that it had bad reviews.
Someone said to just use Google and contact the lenders, but I don’t know exactly what to search for.
Does anyone know how to do this?
I would suggest start by posting your DEAL details locally first.
I’ve been known to help lending on occasion!
On the plus side you’ll get feed back telling you if your deal is a good one or one to walk away from.
All the Best
Hi,
Google search space: ________________________________________________ "Private Money Lenders Real Estate".
Press “Search” button!
Results are shown on pages!
Hover over name and left click mouse!
Home page is shown!
Read home page for relative content!
Close page! Open new page! Repeat as necessary!
GR
Thanks.
How do I verify that they are real?
I have one that I found on FaceBook that is telling me they will wire it to my bank account and they give me their registration number in Nevada.
How can I be sure that I’m not getting scammed.
They’re ready to loan me money after about 2 seconds without even showing them a specific building.
And another question without starting a new thread…
If an owner says he can finance 10% of it… that doesn’t mean that he/she is writing me a check for 10% of the purchase price, does it?
I know I ask some really basic questions sometimes… but how exactly would this work? Let’s say that I can finance the remaining 90%.
This just means after you’ve come up with 90% of the sale price, he’ll loan you the balance owed to him, by carrying back a note, payable by you.
Without trying to get into a long discussion about loans again…
If I don’t pay the owner for the 10% that he financed, he takes back control of the property…
And if I don’t pay my main lender, they take control of the property…
How can both of these things be true at the same time?
In other words, how can I use the apartment complex in question as surety on two loans at the same time?
Hi Fix Private Loans,
You are not allowed to advertise on this forum in public, you can send your information if it's applicable to the poster by PM. You probable need to refer to the forum rules?
GR
Cash buyer websites are a great way to not only start building a powerful cash buyer website, but also help you to find hard money lenders and private money lenders. A lot of people that are involved in one of these areas dabble in all, so get a strong cash buyer site started and you will begin to find all kinds of funding for your deals. Investor carrot is a really easy to use and powerful website company who can get you set up for cheap.
Another option to find lenders is to search FaceBook for local Real Estate type Investment Groups or Pages.
Join the Group then post your requests.
Cheers
JB Jackson
I purchased Private Money Gold Mine, and it is a rip. The only thing the list has is people who lend business credit “if you have a good credit partner.”
But I purchased Patrick Riddle’s course about raising private money, and his concepts are more solid. The course costs, $100 bucks (give or take) but the premise of the course is to look at your public county records and find out who is lending private money in your area. You can also tell what interest rate they lend at, the terms, etc. I did this, and you have to weed through a lot of the big wig banks (Wells Fargo, Bank of America, etc) in the mortgage section. But I did find a lot of individual people as well as LLCs and IRAs who lend privately on real estate deals. Due to SEC rules / regs, you have to be real subtle about how you contact these folks. At the time, I did not have the money to do a massive mail out to these people, but I think investing $100 in the course will give you some parameters. (I am not affiliated with Patrick Riddle whatsoever) And in his course, he tells you the subtle approach you can use to not be in violation.
I hope this helps.
Thanks
Rose Wilkinson
try this string , inurl:.com"keyword" (.com is changeable to .net/or whatever you want). then check the authority of sites you are looking for.
The alternative is to search in Facebook for local groups of investors or private lenders and ask to join their group. You can establish connections faster because it in Facebook.
This is a very crowed field, and you need to know the difference between a direct lender and someone brokering them deals -
My experience has been using some of the companies with brokers as a broker has the connections and ability to search for the best loans that meet your needs. Saves you time and money. Send me a pm if you need more definition.