Mortgage Broker Referral to handle SD.IRA Loans

[Armand R.]

Does anyone use a mortgage broker they'd recommend, when loaning out their own funds for short term/transactional loans?

What fee or percentage is customary for the m.broker who handles the marketing to locate borrowers and brokers the transaction, and processes the paperwork?

Thanks

[Jeff S.]

Originally posted by CommercialReit:

... when loaning out their own funds for short term/transactional loans...

The magic word you used are “their own funds†and “short term/transactional.â€

If you are doing short term/transactional loans, I can’t imagine that these are anything other than to investors with no interest in occupying the premises (i.e. flippers). Thus, these are business loans and do not require a broker. There is also no limit on the number of deals you can do.

As long as you are loaning your own money, you don’t have to worry about security laws. That is, loan away.

You do not want a broker to locate and market for you. You want to locate yourself and form relations with (hopefully experienced) borrowers. A broker will only get in the way and perhaps put you in dangerous deals you have no understanding of or control over.

Jeff