Lender · MD · Member since 2024 · 32 posts · 7 votes
What key factors influence your decision to partner with a lender for private money in real estate? Are there specific qualities or terms you look for that make the relationship a good fit for your investment strategy?
USA, Nationwide · Member since 2024 · 167 posts · 86 votes
1y
Loan officers with 25 years of experience typically are more experienced, and have less time per file, because they have an abundance of files.
Loan officers with 25 months of experience typically are less experienced, but have more time to devote to you.
I can't write my own loans, so when I'm getting a loan I prefer working with less busy people when I'm doing my own real estate investment, they're more responsive and dedicated it feels like.
Gregory - Awesome question(s)! As a lender, it is my firm belief that honesty, transparency and service are the most important factors. Being competitive is obviously important, but I think those 3 factors are the most critical.
Unfortunately, we get too many calls from clients that got the run around, poor communication and service and/or were the victims of a "bait and switch".
Find a lender that will tell you what you need to hear and NOT what you want to hear. A lender that is transparent and timely with communication.