Private lending while living overseas..

Mortgage Brokers & Lenders
12yFollow

Private lending while living overseas..

Marc Henderson
Investor · Hartford, CT · Member since 2013 · 15 posts · 5 votes

Hi, folks!

Question: I am entertaining the idea of living overseas for a year to travel as well as save some money because I won't be spending so much (Thailand is calling my name!). I have done some private money lending, via a partner. I want to continue to do this with other borrowers so I can pay off my mortgages. However, doing all the scouting and finding people to loan this money thru with all the legal hurdles, due diligence and so forth I am trying to figure out if there is a brokerage that could be my middle man to handle these important details. I may be living overseas for some years, with periodic visits back home to check up on things. So...any thoughts? What would you do in a similar circumstance? Thanks! 

0Reply
23 views

10 Replies

Jump to latestLatest
  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    12y

    I don't know of a "brokerage" that does this.  For private lending I've heard of people working one-on-one with borrowers.  Are you planning on doing short-term lending (6-9 months) or longer-term lending (1 year or more)?  I don't know if that makes a difference based on how long you plan on being gone.

    Podcast Guest on Show #29
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Marc Henderson 

      This is what I do half my investors are off shore..

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Darrell Shepherd
    Rehabber · Smyrna, GA · Member since 2013 · 864 posts · 510 votes
    12y

    I'm always looking for money if you're interested in a borrower that knows what he's doing...I do some pretty neat lending when I'm cash heavy if you want to get some money out too.  I like to lend the unsourced, unseasoned "cash reserves" to the commercial guys, they'll usually pay 10% for 30-90 days and secure the hell out of it.   

    I don't know Jay, but I do know a wanna be when I see one and he's about as far from that as I've ever seen, probably be well served to get on the phone with him.

    0Reply
  • Marc Henderson
    OP
    Investor · Hartford, CT · Member since 2013 · 15 posts · 5 votes
    12y

    Me again,

     I will probably be away for a year, perhaps more. It's hard to say, since I don't know for sure. It's why I am doing this shout out to you folks to see what experience or input you have that may be worth looking in to. It makes more sense to find a borrower who wants to go for year, strictly, with the option to extend. I guess I looking for someone to do all the heavy lifting for me, a company that has already scouted out borrowers with the means to secure the loan. I would, of course, want a secured promissory note cleared by a good lending lawyer on my side which could then be looked over by the other side's lawyer. Once the terms have been met and other due diligence(i.e., checking to see that the properties for the security are actually owned by the borrower and are the ones stated on note, no second or third mortgages, a visit by an impartial property manager on said properties to be sure they aren't burned out husks, impartial assessments to be sure the property or properties are actually worth more than what's being borrowed, etc...) Anyhow, that's where I am. Does that clear things up some? What'cha got, folks? ;) Many thanks!

    0Reply
  • Marc Henderson
    OP
    Investor · Hartford, CT · Member since 2013 · 15 posts · 5 votes
    12y

    P.S. 

    I should be getting my money back end of October. I don't want it growing grass under it, so I want to get some leads now on the who, what, where, when, etc.. 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Marc Henderson 

    what you describe above is what a good HML will do for you.. and it depends on what parts of the country your in... On the west coast we don't use attorneys. ... A good HML will have this all nailed down and be lending to folks they have lended to many times.

    What your describing is what one would do if they are lending to someone they have never lent to before etc. 

    Just curious how much capital are you thinking of deploying when you decamp for Thailand?  I have a few investors that live in Thailand and love it.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Bob E.
    Queen Creek, AZ · Member since 2014 · 2k+ posts · 1k+ votes
    12y

    @Marc Henderson  What kind of yield are you looking for?  Depending on the yield you are looking for you might be able to buy performing notes that meet your need.

    Bob

    0Reply
  • Marc Henderson
    OP
    Investor · Hartford, CT · Member since 2013 · 15 posts · 5 votes
    12y

    I will be getting my 60K back by end of October. I've been earning 10% on it. I've been to  Thailand for visits in the past and would love to stay longer than two weeks. So much to see and do! ;) 

    I am not familiar with this "HML" ...looking it up...High Minus Low? Is this what your referring to? Or is it something else. Thanks!

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Marc Henderson 

      Hard Mondy Lender  or Lending...

    With that amount of capital at least on the coasts your going to be loaning into low valued assets.. ( which un to themselves carry risk)  You may want to find a up and coming rehabber and put your funds in as equity  make quite a bit more than 10% and be involved in higher end projects. I know here in Oregon we cannot do fractionalized Deeds of trust so in the PDX metro area you would not be able to make a loan nothing is that inexpensive.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Marc Henderson 

      that was Hard MONEY Lending   sorry for typo

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free