UPCLOSE & PERSONAL
COMPANY PROFILE
Money Matchmaker PRIVATE MONEY LENDING GROUP CONNECTS REAL ESTATE INVESTORS WITH THOSE LENDERS WHO UNDERSTAND THE SECTOR AND CAN PROVIDE THE NEEDED FUNDING.
by James Hart
F
or newer real estate investors, the world of private money loans can often feel intimidating, especially if they’ve only ever borrowed from tradi- tional banks. But private money lenders – also known as “hard money” lenders – serve as important partners to real estate entrepre- neurs who need relatively quick financing from professionals who understand the unique demands of the industry. Fortunately, since 2009, the Private Money Lending Guide (PMLG) website has been there to share information on
private money loans, how they work and how to employ them in a real estate investment project. Not only that, the site also connects investors with lenders who can provide the financial resources that investors need to carry out their projects – proj- ects, by the way, that many banks may refuse to consider. “PMLG has a lot of great information about what is private money or hard money, and how to best use it,” said Twilla Miller, the site’s operations man- ager. “Also, it features a directory listing
of lenders across the nation to assist with both residential and commercial deals, ranging from $50,000 loans to $5 million loans.” While the site is a powerful resource for newcomers to private money, expe- rienced investors have learned to rely on its contacts, too. “It doesn’t matter what type of deal you are trying to put together, they have you covered, no matter how big your deal is,” said Josh Caldwell of Pittsburgh Real Estate Investors Association. “The process is amazingly simple, and the funders are
52 | think realty magazine march :: april 2017
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