I borrow and lend money in the vicinity of 10% unsecured.
More for people I don't know and less for people who have borrowed money from us before and I know them.
I charge a 3 month early payment penalty for paying out before the end of the term.
Usually its a 2 year deal with monthly interest payments.
LO
Jerry,
It all depends. If I were you, I would focus your efforts on private lending. I think you will and are seeing a mass exodus from the stock market and into real estate through savings and self-directed IRAs. Babyboomers on down to young professionals have concerns about the stock market and are looking for alternative asset classes. I would say look for individuals that want an out from the stock market and negotiate with them directly on an interest rate and terms. With all the opportunities to buy right now you can definitely find terms and an interest rate that would be beneficial to you both.
Regards,
Wim
http://www.epiphanymd.com
My partners and I invest in cash flow properties in Baltimore, MD with multiple exit strategies: 1) buy, fix and rent to hold in our corporate portfolio 2) buy, fix and sell to another investor or 3) buy, fix and sell to a homowner
Jerry,
My company offers CRE hard money from 12-16.50%, 75% LTV, 500k Min loan amount- no Max. We are totally asset based, no credit check or requirements whatsoever. I specialize in working with developers ($2MM and up). I'm seeing a lot of distressed projects right now...nationwide. Let me know if I can be of assistance.