Starting a HML Company here in DFW - Seeking Advice

[Joseph Pytcher]

So a bit of background. I've been in real estate for almost 17 years. I've been a licensed lender since 2008 and have flipped hundreds of homes. Starting a hard money lending company makes sense to me since I have hundreds of contacts in this business that I've built relationships for years, as well as it aligns with my origination background. 

My question is, I am looking at using a white label table funder to start with while I raise my own funding. Who would you recommend that you've worked with in the past that has the best terms? 

What I'd ideally like to offer are the following...

Up to 75% LTV

Up to 100% LTC

12.49% Rate

2 Points

6 month terms with options to renew. 

No appraisal

I realize I don't get to choose the terms when using a white label service but I'd like to get close until I have my own funding. 

The lenders I've been looking at are the following...

RCN Capital

Roc Capital

CityScape Finance

New Silver

Lima One Capital

Any feedback on these funders? If you have other options, please let me know! 

Thanks! 

[Joseph Pytcher]

Quote from @Wyatt Ferm:

No appraisal is interesting. All the hard money lenders I've worked with in the past (and the one I currently work for) deem an appraisal necessary for risk management purposes to insure AIV and ARV estimates are good.

Curious how you'd manage risk without one? 

I'd mainly be lending in DFW. I am a licensed broker in Texas. I can figure out ARV without an appraisal easily.