Two lenders argue that competing on price alone is a losing game in hard-money lending. Instead, they say, treat investors as partners with proactive personal communication. Reaching out after deals to understand their needs builds relationships that actually make money.
And it's all about the borrower experience.
And we were talking about that today at a roundtable. And that's one of the benefits of going to these conferences. You get to talk to other lenders, but it's like, man, you're trying to race to the bottom against these companies. You're going to lose.
It's like going into a lawsuit against an insurance company.
Yeah, you're going to lose. Exactly. And it's like you really need to focus on borrower experience. You know, the fact that you can pick up the phone and talk to some of your investors. Right. And they do value. Yeah.
When I reach out to a client and say, hey, I want to talk to you about these last 3 or 4 deals you did and just kind of get an understanding of where you're going. They're like, really? Like, yeah. Is there a problem? No, but I've never had anybody do that. Right. And I'm like, well, but you're You're my client, you're my customer, you're my partner. And that's what I don't think a lot of people understand. For a hard money lender, the investor is our partner, right? We have to ensure that they're going to succeed because they've got our money in that product, in that asset. And if they don't succeed, well, they go out of the business and we lose money.
