This YouTube video features Hannah Hammond recounting how she started a private money lending company after failing to find attractive real-estate deals post-Covid. She explains she offers short-term, high-interest loans (bridge loans, transactional funding, gap funding) and is scaling the business to bring in outside investors.
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The lending company when interest rates spiked. I had saved a bunch of money because I was going to take down a big multifamily project to buy it, add value, renovate and then refinance or sell. However, I couldn't find any good deals because the market was crazy with after Covid and interest rates being low and cap rates were non existent basically. And so I was like, I don't want this money just sitting here, so how can I put it to work and make massive returns? Because I'm in heavy growth mode. And that's where I reached out to a couple attorneys and then decided to start a private money lending company. And that's been amazing. I do very short term high interest loans, like bridge loans, transactional funding gap funding, things like that. And now this year I'm, I'm actually scaling that company and I'm going to be starting bringing in other investors for that too.