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Asked by Sergio, California Sun Jan 4, 2009

This question was removed by Trulia moderators.


Johnson More, Home Buyer, Washington, PA
Fri May 31, 2013
Jerry smith is a legitimate loan lender he can help you with any type of loan so Email; for informations on your loans.
0 votes
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*Are you financially Squeezed?
*Do you seek funds to pay off credits and debts
*Do you seek finance to set up your own business?
*Are you in need of private or business loans for various purposes?
*Do you seek loans to carry out large projects
Flag Fri Nov 22, 2013
listen i need a lone of 5000 dollars. i can return 10.000 i am in Canada and i live in nova scotia.
Flag Sun Nov 3, 2013
Ron Thomas, Agent, Fresno, CA
Mon May 27, 2013
We don't do SPAM on Trulia!!!!!!!!
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Don Tepper, Agent, Burke, VA
Sat Apr 20, 2013
Essentially, you can lend the money so long as you don't comingle it with other money. It'd be a private loan between you and someone else. Recognize that it's risky--you might not get repaid. And therefore you should charge interest (and perhaps points) to adjust for the risk.

Example: Where I am, real estate investors sometimes use either hard money or private money. They're similar, but not the same. Usually, the loan is secured by a note on the property. If the loan is big enough, it's a first mortgage. More often, it's a second mortgage. And it's all negotiable, but private money might cost/earn 12% plus 3 points. The 12% is the annualized rate, though the term typically is 3-6 months. Hard money is somewhat more expensive--like 15% plus 5 points.

Check your state's usury laws. Those types of rates usually aren't close to the maximum permitted, but you want to be sure.

As for the questions from people on where to borrow--do an online search for "peer-to-peer lending." There are a couple of reputable companies out there. Basically, someone posts a need for a loan. They're scored as to credit worthiness, background, etc., and put into one of 5 or 6 categories, based on creditworthiness, along with a rate of return that investors can receive. Investors can buy small amounts of that loan. Example: Someone wants to borrow $5,000 for 3 years. The interest rate to the borrower could range from about 7% to 25%. Then investors commit to making part of that loan--anywhere from $25 to the entire amount. The investor receives about 1.5% less than the borrower is charged. Now, some of the loans go bad, and the companies attempt to collect. However, they're not always successful. But if you spread your investments out enough, statistically you should end up with a nice return. Example: I've been doing that for over a year with one of the peer-to-peer lenders. My annualized rate of return, even with some defaults, is about 14%. That's somewhat better than the 1% your bank will pay you.

Hope that helps.
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, ,
Wed Mar 27, 2013
Feel Free to call me and discuss it. I do have the correct licenses to lend in the state of CA, however depending on what you are doing you may not need any license at all.
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Brian Smith, Home Buyer, Los Angeles, CA
Wed Sep 19, 2012
Well, it's a good idea, but I think that talking to attorney is a necessity. If you want to lend money it's necessary to protect yourself from being scammed, unfortunately lots of people today have an irresponsible attitude to money so there's always a risk that you won't be paid back, that's whythink well the way you can make the lensing safe for yourself at first. You know that there are lots of things to consider before you start, so it's definitely worth to get an attorney's advice.
Web Reference:
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Roland Vinya…, Agent, Sprakers, NY
Sun May 13, 2012
You do not need a license to lend money of your own (at least not where I live), but you do need to be very careful who you lend it to. The large number of replies here is a measure of what I am saying. Some are scams, some are folks who will never be able to pay you off, and some are worthy individuals. You need to be able to tell them apart before you lend money. I lend on properties that I own and sell and here's some advice:

If you are going to take the place of a bank, then act like a bank. Get references and call them, asking for others that you can call as well. That way you will reach folks who were not hand-selected by the borrower. Get income tax data to verify their income. Get their credit scores yourself; don't rely on what they tell you. Talk to their employers and get a sense of how secure their job is, how steady they are in performing it, and how long they have been there. Find out if there are or have been problems related to alcohol, drugs, behavior and so forth. Regardless of how good someone appears, do not lend money to someone you are not comfortable with.

Make sure you have a tightly drawn mortgage and that the security to back it is there. That means both a sufficient downpayment and a property that is well worth what it is selling for and is one that will appreciate. That way in case you have to foreclose, you will be covered. If you lend to enough people, you will have to do this at some point. Period. Do you have the stomach for it?
Figure on $4000 for lawyer's fees for a foreclosure. On top of that will be unpaid taxes, liens encumbered that will need to be paid in order to give the next owner of your "new" foreclosure a good title, painting to do, repairs to be made.....You'll need to have this money available OR there will be huge discounts to a foreclosure's price to make it worthwhile for someone else to take care of. These are costs of doing business. You want to minimize them as much as you can while still being prepared to take them on at some point.

You can make excellent money doing what you propose, and feel good about it at the same time. And you can also lose money and create enormous headaches for yourself. It depends upon your management.
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, ,
Tue Jan 24, 2012

Basically there are different licenses needed for types of lending.

You need a NMLS license to lend on 1-4 units that are owner occupied, I think a DRE license if it they are rentals. I understand that if you are lending on 5 or more units, commercial property or land no license is needed. Check with the CA DRE on that.

I think they will allow you to lend on a few with no license. I have a CA Brokers license and may be able to help you comply.

Feel free to contact me. I may be able to help you put something together on that.
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Scott Godzyk, Agent, Manchester, NH
Fri Sep 9, 2011
If you are going to lend for residnetial purposes chances are you will need a banking license for such or have to use a mortgage broker to write your loans. You should meet with an attorney to get proper guidance with the new mortgage rules in place.
Web Reference:
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, ,
Sat Jul 23, 2011
For all of those in this thread who have subscribed, or come here in the future, you should check out peer-to-peer lending groups for smaller amounts ($25k & under). You can find many of these by just Googling that term. Some of the more popular ones:

And a "Guide" to peer-to-peer lending:
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, ,
Wed Jul 13, 2011
This is quite the interesting 2.5 year old thread...
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, ,
Fri Jul 8, 2011
I am a private loan lender and a private investor .Get financial support from me.I offer loans at a low interest rate to individuals and business organization. I offer personal loans,business loans,debt consolidation loans,commercial loans,real estate loans,hard money loans and so much more. For more details contact me via
0 votes
, ,
Mon Jan 17, 2011
Here is a good place to start learning. See Web References Below. .... Happy funding, Rudi
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, ,
Thu Feb 11, 2010
You might be out of money now if you followed through with all these requests, but I hope you contact an attorney who specializes in banking law in your state. Each state has it's own banking department, and those are the rules you would most likely follow because I am sure you are not going to be federally chartered. I had a client here in NY who wanted to do that and contacted me to ask about it. My brother happens to be a banking attorney, and spoke to him. In our state, there are certain forms that need to be filed, and many regulations to follow. I am sure they are not much different in CA.
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ian cockburn, Agent, New Orleans, LA
Thu Feb 11, 2010
I have a customer seeking $80,000.00 loan on a $200,000.00 commercial property currently with long term leases in place in New Orleans metro area.

Another customer has a project building 5 townhouses in the heart of a vibrant growing neighbourhood amongst several universities.

With a local attorney, we can set up the legal details and escrow accounts, etc. so you get your guaranteed monies with the property as collateral.

Email me for details.
Web Reference:
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Do you need a financial loan? If yes contact Sandra Eric loan company and you will get any amount you need as a loan. contact them on
Flag Tue Jan 22, 2013
ian cockburn, Agent, New Orleans, LA
Thu Jan 21, 2010
We have several people that lend money is not very hard. In essence, you just need an attorney that can draw up the paperwork for owner financing or bond for deed options.

Email me if you would like to do this in Louisiana and I can put you in touch with a couple attorneys that I use that are both reasonable and have a clear understanding in creating such documents.
Web Reference:
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Tim Totah, Agent, Pleasanton, CA
Tue Apr 28, 2009
Hello Sergio,

I am looking for lending, if you can provide. We have a few different options. When you are ready, please contact me to see if what we have would suit your needs.

Thank you,
Tim Totah
0 votes
Grace Hanamo…, Agent, Cupertino, CA
Tue Apr 28, 2009
Hello Sergio:

Believe it or not, there are many corporations already in existence that do preciously what you are suggesting, so you do not have to "reinvent the wheel" in setting up a corporation or in creating mortgage and loan documents that must meet any applicable sections of the Truth in Lending laws and disclosure requirements. These corporations are licensed and have licensed brokers to transact business in California, so the investors do not need individual licenses.

Private money lenders or "portfolio lenders" have been around for decades, and many pay excellent returns on your investment while handling all of the loan qualification, servicing and maintenance responsibilities--in other words, these companies will find you a qualified buyer, put together all of the documents, have them sign it, ensure that you are properly protected through title so that you own the home, and then collect payments for you and give you the money after servicing fees. In most cases, private money (sometimes called "hard money") loans are for short term loans for fixed periods such as one, three and five year terms and are intended to help get people into a home and then afford them time to wait to refinance the property.

A typical private money lender has between $500,000 to $1 million in cash to lend or must be willing to "pool" their funds with the funds of others to make a loan, in which case the mortgage broker may insist that the private money investors become part of a corporation to pool funds for loans.

For more information about private money lending, speak with a qualified mortgage professional as they know the local firms in the area that will do this type of business. Also, if you are in Northern California, Stonecrest Investors also handles a lot of private money loans.

Good luck!

Grace Morioka, SRES, e-Pro
Area Pro Realty
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James R. Bre…, , 47150
Tue Jan 6, 2009
You do not describe exactly what type of lending you wish to do, i. e. mortgages, personal, open lines, short or long term or any of the numerous other methods of structuring a financial transaction. Having said that,
there is no problem using your funds to capitalize/loan to a Corporation and then lend the money-as long as you do not violate any laws or regulations at Federal, State and Local levels. Your attorney will cover that as well as collateral and security (ucc,etc.). You need to be careful how you select form, i.e. LLC, C-Corporation, S-Corporation, Partnership, etc. due to Tax benefits/consequences as well as legal ramificatons. Depending upon how you wish to transact business you may need to acquire a broker's license, as many states are requiring them after the latest fiascos becoming foreclosures due to broker deception. Being a financial consultant for 25+ years (CPA 1984-2004 & Law School dropout) I admire your intentions but must always play devil's advocate in order to meet compliance at all levels and try to determine the problems before they occur, including financial, legal and tax. Having been through these cycles before helps provide a different perspective than the new age "consultants". Should you wish to discuss this further, I have numerous clients who would be very interested and well qualified (myself included), both from an investment point of view and mortgages or other financing. In fact, I am working on starting a fund just for mortgage issues due to the failure of the "Bailout". THANKS, JIM BRESLIN HOME/WORK 812-981-3561, CELL 812-987-8443, FAX 812-981-3997, EMAIL MOTU6969@SBCGLOBAL.NET
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, ,
Mon Jan 5, 2009
If you are a private lender, lending your own money, you can pretty much do whatever you want to do and what the folks borrowering it will agree to.

There is a big demand for private -short term loans. I have run into it several times.

Check out
Web Reference:
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Dallas Texas, Agent, Dallas, TN
Sun Jan 4, 2009
You can lend money to anyone just as long within a particular interest rate per laws of that state. Confer with real estate attorney who can assist you, matter of promoting you trade to families searching for your services. You would need have a formal contract between you and borrower attorney can publish agreement benefit for all parties. Keep in mind if bank wont lend money to a person they have reason how wonderful for you offer these services.
Web Reference:
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