At least with the local folks, you can show up with donuts and maybe get your draw moving.
That’s the secret sauce right there—donuts have magical powers at the local lender’s office. Step 1: Show up with pastries. Step 2: Smile and ask about your file. Step 3: Watch paperwork move faster than a squirrel on espresso. Online platforms? You’re lucky if you get an auto-reply that isn’t just “processing.” I’ll take a grumpy face-to-face meeting over endless email loops any day, even if it means braving some side-eye.
Honestly, I get the appeal of face-to-face—there’s something about seeing the person who can actually push your paperwork along. But I’ve had a few local hard money lenders who were all smiles with donuts, then still took their sweet time. Meanwhile, some online platforms (not all, but a couple) have been surprisingly efficient for me, especially if you’re organized with your docs upfront. Has anyone actually tracked the average turnaround time between the two? I’m curious if it’s just perception or if there’s real data behind it...
I’ve actually tried to track this, and for me, online platforms have usually been faster—sometimes by a week or more. But I think it depends how buttoned-up your paperwork is. Local lenders can drag their feet, even if they seem eager at first. It’s not just perception, but I wish there was more hard data out there... I’ve only got my own sample size, which isn’t huge.
I get where you’re coming from, but I’ve actually had the opposite experience. Local hard money lenders have been way more responsive for me—probably because I can just call or meet them face to face if something gets stuck. Online platforms feel slick, but when there’s a hiccup, it’s all emails and waiting. Maybe it’s just the markets I’m in, but I’d rather deal with a real person than a ticket system.
That makes a lot of sense. I’ve noticed that when things get complicated, having someone local to talk to can really smooth things out. Online platforms are convenient, but if you hit a snag, it’s easy to feel like you’re just another number in their system. I guess it comes down to what kind of support you value more—instant access or face-to-face problem solving. Either way, it sounds like you’ve found what works for you, which is half the battle in this whole process.