[JussBusiness]

I am in need of a Real Estate Lender for my platform. Whether Hard money or Collateralied loans . Someone who can broker conventional also if possible

[Olderguy]

I am in need of a Real Estate Lender for my platform. Whether Hard money or Collateralied loans . Someone who can broker conventional also if possible

There isn't just one lender you can use....there are several with niches. Some use private money pools which are more flexible. I probably have more than a dozen...

[JussBusiness]

What would be the best way to go about acquiring the proper resources ? If you wouldn't mind sharing

[Olderguy]

What would be the best way to go about acquiring the proper resources ? If you wouldn't mind sharing

You need experience in knowing which lenders can do which properties and that takes time. You have a property you submit to different lenders and get some feedback. It just isn't as simple as contacting lenders. It's more of a trial and error process. I have folders for 32 different property lenders. Each has a special niche and guidelines. You have to search all of them to see which one is a candidate lender for a specific type of property and then client guidelines that might fit - like full docs SISA or NoDoc. And I have a second set of folders of 8 lenders not to work with.

You can start here doing a lender search.
(I haven't had good experience here but it's a start)

https://www.scotsmanguide.com/

[Private Lenders]

Great tips Steve.

Scottsman guide is tough, like he said.

It's full of old "lenders", some aren't lenders but packagers or stackers, some are Brokers! and the real lenders don't always really tell you what they fund, and be careful as some are DEAL junkies.

Meaning just lookie lue to see what's out there but Never were going to fund.
11th hour deal changes, which puts clients in a horrible position.
or just charging DD fees but never going to fund.
It's ALL out there.

This industry is ALL on building a relationship with REAL lenders and to find them it's tough and to know what they will fund and when, as they change.

Building a database takes time and learning the industry for what are Actual deals and what aren't.

Along with building relationships with consultants and intermediaries that truly have real relationships built with private lenders is just as important.

As the big ones you have to go through someone to get to them, you can't just bang on a door of a UHNW lender to fund your project for you, is SUPER important and crucial as well.

Patience, persistence and learning from experience Real brokers, consultants and intermediaries is sure path to success.

Learning how each LENDERS looks at these deals and What is actually Fundable is super important which is what he's saying and a skillset in itself and takes times.

Which takes time and you need people that have this experience and industry knowledge on your team or partner up with other people with those established relationships already to review files to help you. It's the best way to go about this for what you're building

Kristina

Private Lenders & Investors
Tailor-Made Capital, Creative Financing, Risk Mitigation
Industry Agnostic
Fund US & Worldwide

www.prosperityfi.com