re: Private Lender

quote:

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If the strategy is as safe and sound as presented he would be able to get much cheaper funding from traditional sources

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Meh, if he’s been doing it a while, maybe, but very rarely are you going to get a traditional type loan on these types of properties. You’re more likely to get a signature note than use these things as collateral.


OP— this is a pretty common practice. If you’ve done your due diligence, I’d definitely look into. Just realize, these homes are going to be on market much longer than they were even 6 months ago. With interest rates rising, his margins are also going to get lower. I’d recommend making sure you don’t just take his word that these properties are going to sell and sell quick. Look at the properties and market yourself and be your own judge.