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Updated 3 months ago on . Most recent reply
Private Lending - Whats your ideal loan
Long story short, I have been selling assets and plan to move back into the lending side of the business...
We had a small portfolio of Hard Money Loans over the years that have since been paid off so not new to the lending side.
My question for LTR investors - what would be an ideal loan for you assuming its for a longer term hold..
Please dont tell me 3% no fees, 100% LTV, close in an hour, no prepay etc etc LOL ...
Realistically, what would you want to see from a private lender?
Thanks guys !!
Most Popular Reply
Quote from @Andrew Lax:
Long story short, I have been selling assets and plan to move back into the lending side of the business...
We had a small portfolio of Hard Money Loans over the years that have since been paid off so not new to the lending side.
My question for LTR investors - what would be an ideal loan for you assuming its for a longer term hold..
Please dont tell me 3% no fees, 100% LTV, close in an hour, no prepay etc etc LOL ...
Realistically, what would you want to see from a private lender?
Thanks guys !!
60-70% LTV
Borrower has a legitimate exit strategy
Credit above 680
Monies to pay the loan
12% + 2 points.
Other assets
Experience
- Chris Seveney
