Ontario Tax Sale Property Forum

Tax Sale Forum => Questions and Answers => Topic started by: Cris on October 12, 2006, 02:32:43 AM

Title: Private lenders
Post by: Cris on October 12, 2006, 02:32:43 AM

Does anyone here act as/deal with private lenders?  If so, what has been your general experience as/dealing with a private lender?  Generally what are you/they looking for?  How do you find them/they find you, generally?  Thanks,

Cris

Title: Re: Private lenders
Post by: gap on October 12, 2006, 04:08:31 AM

Yes, I have had some experience with private lenders.  They work when nothing else will.  They have higher interest rates, but they're a lot more reasonable and easy to reach.  They can do for you what you can't do for yourself.  I have found them in the paper (Toronto Star in the mortgage/financing/lending area) and sometimes through brokers.   You have to watch for the desperate in you which might agree to completely exhorbitant 'fees', but sometimes it works regardless.   You can also find them from your local lawyer's office - they always have investors in their clientele.