re: Private Lender

I asked why not use the more traditional lender route, his biggest reason was because of timing. Traditional lenders are going to require appraisals, possibly surveys, approve him, etc. where as going the PL route he can cut sometimes weeks off that process. His average timeline from contact with a seller to closing is less than 3 weeks which is a big deal in the space apparently, he is for sure not the only one doing this and some of the others are large outfits with plenty of capital at hand. One would think he could do the signature loan route but that would be limited at some point as well and would probably equal more personal exposure than he'd be willing to swallow. Great feedback so far, thanks.