Private Lenders And Investor Guidelines
an excerpt from:
Without money, real estate investments do not happen and oftentimes that money will come from individuals or companies that are not banks. As with all investors of real estate, private lenders will want to insure their investment is not jeopardized by default of the borrower or homeowner.
Most property preservation contractors do not realize private lenders could be another source of work. Private lenders are not high profile like VA, HUD, Freddie Mac and others; in fact contractors need to search them out as a private lender will seldom if ever search for a property preservation contractor.
Working with a private investor is more of a relationship based arrangement than a straight-up business relationship. In all of my years of property preservation work I have never worked directly for a private lender – only through another contractor that earned the investors trust and confidence over a period of many years and many jobs. You can be sure that private lenders will have their own “investor guidelines” for contractors to follow whether actually published or not.
Although I know nothing of the association, American Association of Private Lenders maintains a member directory at www.aaplonline.com.