The site’s “matchmaking” service is a win-win for both investors and lenders. Investors don’t have to make dozens of calls to reach the right lenders. Lenders, meanwhile, can easily let investors know what kinds of deals they like to see. “We just make a simple connection between the right investor to the right lender, to avoid investors cold-calling lenders or sending a deal that isn’t a fit for the lender,” Miller said. PMLG’s service is free to the individ- ual investors. Lenders, however, do pay a fee to be included in PMLG’s listings. PMLG itself is neither a lender nor a broker. “PMLG doesn’t want to be a middleman, so we leave any document collection to each lender, so they only request what they need,” Miller said. MORE OPTIONS FOR LENDERS PMLG has a “sister” site, LoanMLS (www.loanmls.com), where people who have made loans on PMLG can turn and around sell them. “Instead of continuing to collect pay- ments each month, a lender can sell the ‘note’ on LoanMLS and get their money back in full to make more loans,” Miller said. “However, LoanMLS is not exclu- sive to lenders – there are more than 25,000 people registered nationwide who prefer to collect payments from notes instead of buying a property themselves to rehab and sell or rent out.” While PMLG is always being up- dated, both with new lenders and new information, a major update is planned for this year. For more information, visit www.privatemoneylendingguide.com or call 866-659-7579. Don’t be shy about reaching out, Mill- er urged. “If an investor has a question or issue, they can also reach the PMLG team at any time,” she said. PMLG is part of Affinity Enterprise Group, which publishes Think Realty Mag- azine. AEG acquired PMLG in 2013. •
real. No BS, false leads or shady tactics, just real money for real projects.”
not on the menu? Personal loans or houses occupied by the borrower. “The majority of the current investors that find PMLG and submit their deals are residential,” Miller said. “However, we do maintain a good pool of larger commer- cial lenders to try to help everyone. The one area we aren’t working in currently, besides international and owner-oc- cupied, is equity deals. All the lenders currently provide debt loans only.” Real estate investors of all experience levels are welcome at PMLG, includ- ing those who are preparing to seek their first private-money loan. Several lenders in the site’s network are open to coaching first-timers. “The main requirements are a 20 per- cent minimum down payment – ‘skin in the game’ – or a 620-plus credit score,” Miller said. “Investors who fit both of these criteria will have the easiest time securing a loan, but those who may not still have options with us.”
HOWPMLGWORKS It’s simple for investors to access PMLG’s network. They just need to click “Find a Private Money Lender” from the home page (www.PrivateMon- eyLendingGuide.com). After selecting their criteria from each category, they’ll be provided a list of lenders that match. From there, they’ll click into each lend- er and complete a form that prompts them to answer a few questions, includ- ing the type of property in question, how much money they need to borrow and which states they operate in. According to Miller, PMLG’s network includes more than 60 lenders from across the country. Their focus is on investment properties, primarily in the United States, though the directory does have the po- tential for international expansion. What’s
James Hart is senior staff writer for Think Realty Magazine. Contact him at jhart@ithinkbigger.com.
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