Private money lenders who want to earn 3% ?

[Ian Dyer]

Who has experience getting low interest private money loans? With banks paying under 1% on savings and CDs, there must be people who'd be glad to get 3% and be protected by a low LTV mortgage/deed of trust. It seems like a win-win. Who has experience with this?

We're talking about properties valued from $2mil to $15 mil, in California, owned by solid companies and backed by individuals with high credit scores. 

[Jay Hinrichs]

Originally posted by @Darius Ogloza:

Jay: That's exactly right in my case - F&F.  But with local HM available at 8% (plus a couple of points) it's just not all that worthwhile from our end to offer follow-on private investors much more. 

10% apr seems to be the floor right now.. so any payoff with points in less than a year juices the lenders APR.

And of course i am sure your aware but anyone on the internet or social media contacting you saying they are a private lender at 3 to 5% is 99.9% simply a pump and dump advance fee crook.. as seen on American Greed Episode  Remington financial  which was brought down by a lady named Ingrid Robinson right there in your neighborhood.. she tried to buy an Island in Clear Lake up in Lake co just North of you.. Although in reality her dream of developing that Island was just that.. it could never have been developed it had been passed around from various developers as a project that you simply could not get entitlements to..  But she and an FBI agent brought them down turned out Remington did a few thousand deals where they got 5 to 10k up front and over a course of a decade or more ONLY funded 3 of them..

Now a days its just another ( very often) off shore Nigerian prince scheme.. but I am sure there are still companies out there that their primary goal is to get up front fee's and never fund.    Not to get off on a tangent  LOL>.  But you being from North Bay thought you could relate.