Private Money Loan Doc Software

[David Oldenburg]

I want to know who uses loan doc software to create their NOTES and disclosures when they lend their own money?  Who do you use and why?  I usually have the title company create the NOTE for me with their generic programs, but looking for something a little better or more professional.  Thanks!

[David Oldenburg]

Bill, I must correct you! I am by definition a private lender.  I am using my own money, sitting in my checking account, and loaning it privately to individuals who I deem qualified to borrow it.  This is not brokering.  I also work as a regular lender, but I am loaning the money of others when I am wearing that hat.  The two are night and day.  When I am brokering, I have virtually no risk of my own capital and the money is coming from institutional sources. When I loan privately as a private lender, I have complete risk of my capital, I make all decisions and I suffer the consequences or rewards of my actions!  I am also a flipper and wholesaler, and I use my own money as a private investor for those deals.  

I appreciate your insight, but wanted to make it clear to anyone who reads this thread to not be confused and think that a private lender is a broker, because there is a big difference.  I would imagine many of the people here with money are just like me. They are private lenders agreeing to loan their own money, with their own terms, and taking full risk.