Looking for advice on how to grow database of lenders (Toronto)

[Alexander Mohr]

Hey Folks,

Looking for advice & best practices here on how folks have built a strong supply side network of private lenders.

I’m an experienced digital marketplace builder and Realtor, but don’t come from a background with many super high net worth individuals.

I have the demand (mortgage brokers digitally submit to me through Filogix, Lendesk & Velocity), but need more lenders on supply side to provide those funds.

Given that most of the deals are in the $650k-$1.2m range (I’m in the Greater Toronto Area, Canada) one can fly through volume fairly quickly.

I currently have a relatively small operation and focus on 1st mortgages (8%-10%) and 2nd mortgages (~12%+) up to 80% LTV.

Has anyone built a lending practice using OPM? Would love to hear about how you scaled up if so. Particularly if you’re coming from a similar situation as myself.

My feeling is that if I get the demand, the supply will come but I’d like to test that theory & hear if anyone else has taken a similar route.

Thanks all

Alex