Investors on Craigslist?

[Logan Harrell]

I know I am new to this business, but I've been searching for a private money lender in my area. I saw someone posted on Craigslist they were looking to invest. I just wanted to ask what questions should I ask them/what would help me in knowing they are for real if I contact them? I've got an inside scoop on a house that will be coming available in the next couple weeks and I am about 99% sure the people would just sell to me and not even list(they are my bosses). Thanks for any tips and tricks on this! 

[Greg Dickerson]

Originally posted by @Logan Harrell:

I know I am new to this business, but I've been searching for a private money lender in my area. I saw someone posted on Craigslist they were looking to invest. I just wanted to ask what questions should I ask them/what would help me in knowing they are for real if I contact them? I've got an inside scoop on a house that will be coming available in the next couple weeks and I am about 99% sure the people would just sell to me and not even list(they are my bosses). Thanks for any tips and tricks on this! 

Before you start looking for private money make sure you have educated yourself on the market and the business. As for the lender you want to vet them thoroughly. Check Thier website, Ask for a term sheet and never pay upfront fees for a loan. Ask for references in your area including a closing agent or attorney they work with.