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Updated over 5 years ago,
A little direction to become a private lender
Hey BP,
We are listing our home for sale and expect to net $500,000 after paying off HELOC, closing costs, taxes etc. We are fortunate enough to have a decent income and flexible living circumstances for the next couple years.
Given these details I'm really interested in becoming a lender despite not having a large real estate portfolio. Do any lenders out there have references (books/podcasts/courses) they would recommend for getting started?
Maybe I should start by networking to find a solid real estate attorney I can invest in? Is $500,000 too low to start with?
My interest in becoming a lender stems from enjoying analysis and problem solving. I'm also drawn to the power of networking to solve problems (which is why I enjoy BP so much). Maybe some of you can share success stories you've had as a lender and what you enjoy about the industry.