I called a friend who is a private lender and he said he can try to salvage the deal so we tried to move this deal over to his bank before The Bank’s underwriting could officially decline it.Thankfully everything went well and the deal was officially transferred over to the private lender without an official decline notice from The Bank.

True they have had a monopoly for over 50 years, however, in the past 10 years there has been a small private flood insurance markets and it will continue to grow you can do a google search for "private flood insurance", "Lloyds of London flood insurance" or just reach out to me and I will shop all options for you. 

Hi BP,I have a question about private lending.

Can somebody walk be through how a private loan transaction takes place?  

@Justin DeSantisI sent you a private message. 

My private money lender wanted me to give an origination fee but I don't have that since I've dumped my money into wholesale marketing.

@Allan Szlafrok thanks for reaching back, I will definitely be sending you a private Message 

If the deal is good enough you may consider hard money / private lender and pay a little more in interest, knowing you will only have it for a short time.   

@Jordan Moorhead  my home is not a 6 mil home its nice but its not on the lake.. but for someone working downtown  I am only 5 minutes to I 5  which is nice. and I am on a private street only 3 homes including me and walk to 1 through 8.. which families like.. but not a lot of families here because of price point.I know I could get 5 to 6k a month for it.. for sure.. just wondering how the nightly stuff would fair out 800 a night at 50% occ I s12k a month that's pretty good money.. 

Hi  I'm new here, and looking for some advice to get my foot in I'm interested in flipping houses, I'm just having trouble in how to approach a private lender