WHY because as hardmoney lenders they have more control over there capital.I have been one over the last 30 years my last shop was 35 million so we were not tiny but we were not SEattle funding either.. more on the line of East side or vestus.Borrowers just don't jump ship for 1% or a little cheaper.. they will stick with who will allow them to scale.so when I want to do a 100% deal for one of my long time borrowers no problem. your not going to be able to compete.. the day of 20% plus rates are gone of course.But the portals all want to make 14 to 18% apr just like the HML companies.Can you take market share no doubt but you will have to build it just like I built my companies excellent customer service and flexibility.. right now the Portals like RS have very stringent underwriting they cannot compete with many of the local guys in this market that have 10 to 30 mil to lend. and there is only so much hard money demand in a given market as we know.Vestus and East side get a lot of their business by providing capital to buy at courthouse steps this is highly complicated and lots of moving parts your portals will no way be able to compete at that level.Were I can see a portal doing well though is with bigger funding deals that the HML won't take on.. like larger credit type lines etc we have had some interest from portals for this.. and its not at all competition with the local guys.

Thanks for the suggestion, but I don't have time to wait for shipping.  

Why not start developing a relation ship with a commercial lender now and get that headache over with.

I'm at a "competing" brokerage but the environment Moe & Cathy create is one of the "rising tide lifts all ships" mentality.

It is a violation of the covenants of the note.

That ship sailed 3 years ago.You have to "move with the market".

However, we are mostly using Converted Shipping Containers for a fraction of the cost, and they are built to last much longer than your Home Depot "shed" Depending upon the type of portable units you choose, the cost per square foot will vary Greatly, and delivery charges.  

For example Amazon.com advertises millions of items for sale that they do not own. 40% of Amazon's business is with merchandise owned or shipped by  3rd party "Wholesalers".

He runs a pretty tight ship over there and they come in at the usual 10%.

Plus the foreclosure ship has sailed in Santa Clara county good luck with that.