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Updated about 2 months ago on . Most recent reply
As a PML, you should....
To start as a private money lender, educate yourself on real estate investing and lending practices, define clear loan criteria, and conduct thorough due diligence on borrowers and properties. Draft precise agreements outlining loan terms, manage risk by diversifying investments, and build relationships with real estate professionals. Ensure compliance with local laws, start with smaller loans to gain experience, monitor your investments regularly, and trust your instincts as you navigate this venture.
I myself, as a PML. Giving the best quality of service to people is the top priority!
Most Popular Reply
Mike Grudzien
#5 Short-Term & Vacation Rental Discussions Contributor
Pro Member
#5 Short-Term & Vacation Rental Discussions Contributor
- Lender
- Eugene, OR
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Mike Grudzien
#5 Short-Term & Vacation Rental Discussions Contributor
Pro Member
#5 Short-Term & Vacation Rental Discussions Contributor
- Lender
- Eugene, OR
Virginia,
That was a perfect, succinct summary of good PML!
Thanks!
Mike