How to become a Private Lender

[Sam Sand]

Afternoon BP,

How does one go about being coming a private lender?

I would love to connect and just get an idea of how/what/when/why to become a private lender.

I know there are so many avenues and paths within real estate i just want to explore this one a bit more

Thanks

[Dante Anderson]

Quote from @Derek Dombeck:

After finding a  suitable borrower to place your money with, but before the money trades hands, be sure to underwrite the deal thoroughly. This includes getting comps or an appraisal to verify value, lenders title insurance,  a proper note and mortgage,  and you must be listed as a mortgagee on the borrowers property insurance policy.

Our lending criteria in our lending business caps our loans at 65% of the after repair value and we control all rehab funds as we hold them in escrow.  Whatever criteria you adopt, be sure to stick to it.

Find a lender that you can shadow or work with if you would like to cut the learning curve. 

Reach out to me directly if you would like. 

 Hello Derek

Are you still lending? Can I contact you about getting into private lending?