Hard Money Lending

[Steve Olafson]

I am investigating the concept of lending money for apartment/small commercial projects in Arizona.  Does anyone have any experience with this that could share pitfalls or positives?

I already invest in apartments and small commercial projects.  It is getting tougher to find deals these days so I am looking for alternatives to place money.

[Ann Bellamy]

You may be disappointed in the Pitbull conference, although going anyway will certainly teach you a lot, although possibly not what you need to learn.  

I'm also not a Sal Buscemi fan, although I have not read his book.  I would certainly read it, although it may not have quite the slant you are looking for.  

I would look into the American Association of Private Lenders www.aaplonline. The annual conference is going on right now, aaplconference.com in Las Vegas.

Also be sure to find a real estate attorney who specializes in private lenders.  These attorneys do exist, although they are few.  Call the local hard money lenders and ask them for the name of their attorney.  That attorney will be skilled in advising you on state laws and requirements, as well as SAFE act and Dodd Frank considerations.

A conventional real estate attorney is not enough, because most of those represent institutional lenders, who have their own attorneys on staff to produce documents.  I can't emphasize enough how critical it is to find the right attorney.  

Good luck