Expert: Brian Bocchieri - 1/5/2008

Question
I am looking at my second commercial property to buy. I used a bank the first time. I've been told there are many websites for non conventional commercial mortgage lending, made up investors who will loan at better rates, as well as higher ltv. Do you have names of lenders I can investigate? Thanks for your time.

Answer
Congratulations on your journey you are on your way to independence.  

I have personally not used any of such sites but I know they do exist.  As a loan broker we have access to various types of lenders to which we look to place deals at the best rates and terms for our clients.  

For private money you may want to look to your local Real Estate investment clubs some clubs have opportunities for people to present deals to ask for partners or financing.

You can also look to put a group together to pool the money for the deal depending on the size of the deal.  

Be sure to do your due diligence when using the private money sites I am sorry I just don't have the experience with them to say they are good or bad.

Wishing you all the best.

Brian Bocchieri