I wasn't sure whether to post in this thread or the financing one, but here I am.
Who is doing private lending (meaning you're lending out your funds) successfully and is willing to share some tips for a newbie?
I'm also looking for mortgage contacts to speak with to learn more about this strategy and potentially use to help facilitate being a lender.
Thanks for your help!
- March 16, 2021
Hi Jamie, I am a mortgage broker and I not only facilitate lending opportunities for my clients, but I also do private lending myself. The biggest thing with private financing is the exit strategy. There has to be a well defined exit strategy WITH room for error. If there are no buffers or contingencies then might not be a good deal. This is by far the most important, but there are many other factors. Make sure that the mortgage broker you are working with is completely underwriting each deal AND providing you with all the details on how they came to their conclusion on why it is a good deal. Happy to discuss further if you are interested. Amiel Jelinek - Mortgage Broker - The Windrose Group