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Updated over 4 years ago on . Most recent reply
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Private Lenders - Nervous to Get Started
I know how to find deals.
I have lenders lined up to fund deals.
The thing holding me back is the logistics of going through the process of using a private lender for the first time. I don't want to appear ignorant in any way to a person lending me money, but the truth is that I have never done this before (I have only purchased homes with my own money).
What exactly should I have in place before I bring a deal to my lender?
What will an agent want to see if I make an offer on a property and tell him I am buying it 'cash' with someone else's money?
I learn as I go, and I usually have no problem making mistakes, but in a case like this, when I am borrowing money from someone, I don't want to appear sloppy at all.
I don't know if you would call this analysis paralysis, but it some sort of paralysis. Maybe Ignorance Paralysis. Looking to conquer this fear so I can move forward with confidence. (Thanks in advance for any help people can give.)