List of private money lenders for washington state

[Lorin K.]

I want to make sure that I have a list of private money lenders ready that would be willing to loan on a property once I find that one qualifies. The property alone would qualify as my credit is not that good right now. Good or great deals get passed up, sold to the next buyer if a investor does not have his financing ready to go. I am focusing on properties in the NW corner of the state as it is within a 45 min drive from my location. 

[Jeff Rabinowitz]

@Lorin K., private money is a relationship business. Everyone can develop their list but it will be different for each person. Private lenders do not lend as a business. They may be willing to if you cultivate their interest and they trust you. Family members, dentists, postal carriers--the people you come in contact with are your potential lenders. Make sure they know what you do, what you want to do, and that there may be opportunities for them to participate. It is always best to plant a seed and let the potential lender approach you when you catch their attention.

There is another group of private lenders that I call experienced private lenders who you may meet if you attend local REIA meetings. These are people who know real estate, lending, or maybe both. They are still not professionals and do not need to lend but they are definitely open to doing so if you develop the relationship correctly and bring an appropriate deal. These people will not usually be on lists.