Yes how would one go about getting into the lendering business. Can anyone give some information on where one would start. thanks
M
I assume that you mean real estate lending business (otherwise, ignore my post). Probably the easiest way to get into the real estate lending business is to buy houses and sell them with owner finance. There are several methods to do this. You can buy from distressed owners at a discount, and sell at full retail or above retail on lease option. You can buy distressed properties, rehab and sell with the same options. You can buy subject to existing financing, and wrap the existing mortgage and make money on the spread on the existing rate (percent of interest) and the rate that you charge the new owners. These are only a few of the options available. There have been entire books written on the subject.
Wilson
The lending business can be a broad range of things. Are you talking about being a loan officer for a broker? Are you talking about being a loan officer for a bank or mortgage lender? Are you talking about lending money…your own funds? If you’re trying to become a loan officer…helping people finance their properties…you are probably referring to working with a broker. Contact a few brokers and ask them how it works in your state. If you have trouble finding one, all you have to do is call a real estate agent or title company to refer you to one. While you’re on the phone with them, you might want to keep their contact information for future use…who knows, it could turn into something good!
Ok I understand thanks yes I was referring to all of the above thanks again.
M