Finding Hard Money Lenders in Your Community

[Jason F]

I'm new to the forum and posted this somewhere else prior to finding this section. I love how many areas this forum has, it's great.

On finding private hard money lenders: Has anyone toyed with the idea of really marketing to people that otherwise do not invest in RE. I am constantly speaking with doctors, attorneys, business owners, who have plenty of investable income but do not want the hassle of dealing with RE. I tell them what I do and they seem fascinated by every aspect of RE and want to invest. Obviously any RE investor knows it takes a lot more research and time than most people think. These people, having their money in CDs and low interest accounts would most likely be very interested in loaning money for projects, mortgages or purchasing notes.

I'm just thinking they might be a little let scrutinizing (if that's a word) then most of the Professional Hard Money Lenders you run into. I'm thinking they might actually be happier with a little lower rates as well.

Anyone have any experience with this? What did you do? Did you set up LLC's between the parties or just treat it as a normal loan with a note/mort at closing?

Thanks,

J