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Updated about 10 years ago on . Most recent reply
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Small loans < 30k and investors
Hello,
I am looking for mortgage loans under 30k and am having difficulty with nearly every bank I talk to . I'm considering turning to personal investors, however, I don't know how to find these guys.
Does anyone have advice where I can find some investors for this sort of thing or any alternatives to such?
I have no equity or secure-able assets but make a decent salary and can put several thousand down to secure said loans, I need to find someone who can see the value in investing in my investments and can will accept short-term sub 1 year loans on sub 30k.
Where do you guys find investors / your first investor?
Most Popular Reply
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Anything under 50k mortgage brokers tend to lose money on. It's so small it's hard to sell off.
Need to look at local banks who keep the paper after originating. They make money off of servicing the loan.
- Joel Owens
- Podcast Guest on Show #47
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