PML or HML

Are you a PML or HML?

I hear this question all the time. After giving it some thought I would like to offer my distinction between the two, and perhaps help clarify this question for everyone else.

A PRIVATE MONEY LENDER is someone ~ who as the name implies ~ is not available to the general public, someone who is privately yours; a family member, a friend, a local acquaintance, someone other people do not have access to, and they (the PRIVATE lenders) themselves are not necessarily looking to meet. They are exclusively your lender.

A HARD MONEY LENDER is someone who is in the business of making hard (secured by hard assets) money loans. They seek out deals, advertise, and are available to be found by those looking for a lender. They have their set of criteria, and so long as the terms and conditions are agreeable to both parties they make the loan.

I am a Hard Money Lender. I am available to investors who are looking for a loan secured by real estate. I would venture to say that for real estate investment loans secured by real estate ALL lenders are hard money lenders, while only some are private.