Brokers: Where to Find Private Deals

Private deals or “B” deals are easier to find than many may think.

We often hear from brokers that they’d like to do more Private deals or “B” Deals.  They just aren’t sure where to start.

Here are a few sources that you can use to build your portfolio:

Birds of a Feather

If you already have some experience with private deals, there may be a great source within that group.  You should specifically target your marketing towards referrals that you receive from those borrowers.  It’s very likely they will they will have friends in the same or similar situations that will call for and require similar solutions.

Lawyers

Specifically, divorce lawyers.  But what is the best way to reach out them?  Take them for a coffee.  Nobody ever does this – you will shock them.  They have clients with jobs and cash on hand from their settlements.  Not only that but these clients will likely have bruised credit or trouble qualifying based on one income and may require a private deal.

Bankruptcy Trustees

Take these people for coffee too.  They will have a valuable insight into potential borrowers who may require a private deal.  Borrowers in Consumer Proposal often provide great opportunities for Private mortgages.

Business Associations

Business-for-Self borrowers often struggle to fit the conventional banking rules.  But with assets and income, they make terrific borrowers for Private Lenders.  Look for opportunities to meet with these groups and share what you have to offer.

When you find these borrowers and you need a Private lender, call the underwriters at Kokanee Mortgage for all your lending solutions.  Our decades of experience have given us the knowledge to craft creative lending solutions for many types of borrowers.  Call the experts at Kokanee and see just how easy the private lending experience can be.