The #1 thing most Real Estate Investors wish they have more of is $ – that's right cash, or access to cash for financing their real estate investments deals. Wholesale, Rehab, Buy & Hold, Tax Lien & Deeds, Probate, Bulk-REO, Foreclosure – even Mobile Home real estate Investors can all benefit from having a place to go to put in a request for “cash” or a “loan”.
I crossed paths with Alex Tanner and his site LendPost.com recently. LendPost.com is a site designed to connect real estate investors and lenders by allowing users to post loan requests and offers. How cool is that!
I took the time to interview Alex Tanner, the real estate Investor who is responsible for this “Free” and easy to use site for Investors looking for money and those lenders or deep pockets who want to use their money to fund real estate investment deals for a return on their capital.
How long your site has been around?
LendPost was created in 2011 and has seen steady growth in the number of users and loan posts.
Are you an investor?
Yes, and I am in a family of real estate investors as well.
Are you a broker?
No I am not a broker and LendPost does not handle transactions – the site simply allows users to post their information. It is up to the users to connect with each other and conduct their business transactions.
Why did you create the site?
Several years ago I realized how hard it was for real estate investors to get financing due to the economy. I knew there were people out there with money to lend, but I didn't have a way to find them. So I decided to create a website that would be a gathering place for borrowers and lenders. A place where people could post their loan requests and offers and connect with other people.
Benefits to Investors?
LendPost is a great benefit to investors because it provides a place where they can easily connect with lenders and find financing. Users can browse the current loan offers and requests and then contact the individuals directly. LendPost is free and very easy to use!
Average investor success using your site?
Since LendPost does not handle transactions or act as a middleman, we can't track the users' success. We do, however, get very positive feedback from our users.
This is not an endorsement, but with so many new real estate investing tools and apps being produced at the spend of light, it's easy to get inundated. So I thought I would take the time to help you out by doing an “investigative” blog post for all to benefit.
Do your own due diligence. Don't be afraid to ask questions and network with other real estate investors.