find private notes Archives

What’s one of the best things about investing in loans?

It doesn’t matter if the market is up or down. Your money will be always be protected (if you do them right), and you’ll always find checks arriving in your mailbox.

But before you invest in loans, you need to make sure they’re good ones.

Last post, I shared the first foundation block to a good loan: good properties.

Today, I want to reveal the second key foundation: good borrowers.

In hot and cold markets, you want someone you can depend on to 1) keep you protected and 2) confident your payments will arrive on time.

So, what makes up a good borrower? Here are my top 3 requirements:

Proof and history. They have a solid history and proven concepts for their business (be that rentals or other investment like fix and flips).
Reliable income and reserves. They do not solely rely on the property to make their payments.
Honest communication. They do not hide any material facts, they’re happy to keep you updated, and they’re never late with payments.

Basically, you need to find a borrower who you enjoy working with and creates a win-win relationship. A loan with this person should not create extra work for you.

It’s really as simple as that.

So, now that you have a good property and a good borrower to work with, how can you make sure your loan is secure? That’s up in our next post.

Ready to build your foundation for good loans? Contact us today and see how we can help you succeed in private lending.

Email us a question at Mike@TheNoteShop.com
Schedule a 30-minute consultation.
Enroll in my personalized coaching services.

Did you enjoy Private notes-Income and Security #2? Check out:

Private notes-Income and Security #1

Private notes-Income and Security #3

Private notes-Income and Security #2

Where to find more loans than you could ever fund, or ever want to.

The Simple Private Loan Marketing System

You’ll be surprised by how quickly people will start calling and asking you to lend them your money.

Truly, it’ll shock you.

So, if you’re worried about being loan-less, don’t. You’ll have plenty to pick from.

It won’t be about finding people to talk to you. It’ll be about sifting through and figuring out the loans and deals that are good for you.

Start where the demand is and the loans can be secured…real estate investors.

Lets keep this simple and just the top five ways to find private notes.

Join the meet-ups. One or two posts will typically be all you need.
Talk to local property wholesalers. Quick Google search will help you locate them.
Call other private money lenders. They always have deals they can not fund.
Check with you local small community bank.
Post on places like Craigslist.com

Here is the secret…there are more people looking to borrow money than there are active lenders. So be selective and only fund loans you feel are good solid investments.

Before you start lending have a plan for your money and what terms you are willing to offer. Don’t go looking for private notes until you know your ideal loan and borrower.

If you have a question or need help finding good secured notes you can reach out to us and we would be glad to assist. You can reach out to us through the contact us form located at the top of the page.

Be careful and read about the some of the big warnings before you start.

The Simple Private Loan Marketing System

Tag Archive for: find private notes

Where to find more loans than you could ever fund, or ever want to.