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Updated about 10 years ago,
Finding people who need commercial hard money loans in Arizona
My business partner recently informed me that his father wanted us to help him find some people in need of commercial hard money loans. We are going to sit down to talk specifics with him soon, but I thought there would be nothing wrong with getting a head start. I have never done anything involving HML so please bare with me. My questions for you fine people are:
1. What information should I be asking when we have our sit down?
2. Where do I find people who are in need of commercial, hard money loans in AZ?
I know he wants to stay in AZ and does commercial hard money loans only. From doing a little research on the subject I know I need to ask about loan to value, Min/Max size loans he is willing to deal with, any prepayment penalties involved with his loans, any income verification that he requires, and of course interest rates.
Any information would be greatly appreciated and I look forward to your replies.