Private lending backed by real estate as collateral
Are Angel investor channels a fairly good channel?
We work as brokers for hard money / private lending for residential and commercial investment properties. All business purpose, nothing owner occupied.
We have some in house lending channels for perm. Various commercial assets and residential.
Two times previously I worked under ownership and essentially ran their companies. This one's mine and we're two years into our growth. We are now focusing on finding check writers to back our loans for double digit rate returns.
Bridge, rehab, ground up construction. All interest only short term loans for 12-24 months.
We don't actually get written a check. I know Angel investors typically write a check to invest "into" a business while as we are looking for single purpose check writers to committ certain amounts minimum annually for us to know confidently what we are able to deploy per backend investor.
We source, originate, underwrite and close. Check writer simply sends that to title at close. (This is granted all agreements are in place.)
5mm is our target annual minimum per investor. They aren't writing us that check it never sees our bank account.
I know family offices are a solid target as well, but since any single purpose entity can be that type of silent partner im looking into this portion.
Are Angel investors a good fit?