Hard Money Loans With AI: Compare Lenders and Close Faster | Moshon Reuveni

Moshon Reuveni (00:00)

You could get difference of 2 % on the rate, sometimes 5 % on the point. could get one lender will offer you two points and another lender will offer you six points. You’re going to end up taking the six points because he could close in a week and the other guy could close in three weeks.

You need to close now. So there are a lot of consideration beside the interest rate and the point that going to hard money and, but sooner or later, some other companies like mine, maybe will come up right now.

Dylan Silver (02:00)

Hey folks, welcome back to the show. Today we’re joined by Moshon Reuveni He’s the founder and CEO of Lendersa, an AI powered hard money marketplace. Moshon, thanks for joining us here today.

Moshon Reuveni (02:13)

Yeah, thank you for having me. Glad to be here.

Dylan Silver (02:16)

What types of deals are folks really looking for when they’re looking for this type of financing? Is it single family deals, fix and flip loans? What are they the queries like on Lendersa?

Moshon Reuveni (02:28)

Well, we’re getting all type of real estate transaction on our portal. Mainly we are concentrating on the fix and flip and any type of hard money loan and especially all these loans that a bank would not touch and the people shopped around all over the place, couldn’t find a home. They come to us and they know that we have quite a few investors and also brokers that connected to investors. So it’s a huge marketplace.

And they do have a chance to present their loan request and hopefully we could match them up with someone that will fund the loan for them.

Dylan Silver (03:05)

Now, in many cases, when folks are looking for the right lender, this is often the biggest source of grief for all parties, not just for the investor, but also for the person who may be selling the property to the lender and deals fall apart because of lender complications. I’m imagining that this is one of the ways where Lendersa

is really able to help folks is because they’re not locked

into one or a couple options, it’s giving them a litany of different avenues where they can secure financing.

Moshon Reuveni (03:37)

Yeah, commercial properties. And we’re dealing with some fixer and flipper that doing like small transaction 200,000, 300,000. And then we deal with commercial investor that looking for $10 million or $4 million. Those transactions are very complicated. You present the offer and then you start using our AI to negotiate.

the transaction on the platform. And it’s not a, it’s a fast process, but it’s complicated because you need to communicate and negotiate with sometimes seven different investors at the same time. And each one, they all have the same basic question, but then each one of them will have separate requirement or separate needs. So you could do it on our website. You could deal with each one individually and we are kind of putting it all together in a way that you could.

You have the AI to help you sort out all the different offers that you got to find out which one will work, which one would not work. And because of the complication of the staff, sometimes you need to wait, sometimes give you an offer that’s like, it’s like a 9 % loan for 24 months and like maybe only two points, but after some more time, maybe two.

three days later, you find out the guy requesting stuff at the lender requesting that you don’t have, like he wanted some kind of a bank statement or better credit. Then you move on to the next one that you may end up paying 11 % rate, but you’re going to end up with the loan. And sometimes you’re dealing with three or four people at the same time and it’s going in and out until you find it.

So it’s interesting. It’s really the way the market is actually working in real life. In my experience, I’ve been doing it for so many years. That’s the way people are dealing with loan. We’re just putting it all together on one platform and we’re using AI to help you out. But we’re not trying to change the way people shopping for loans or negotiating for a loan. We’re just trying to make it easier for you without changing it for the lender or for the client. you have the…

You have all the options to talk, to negotiate, to transfer documents via the portal until you come up to the right funding pattern.

Dylan Silver (05:49)

Get a little granular on this idea of a commercial hard money loan. I think when a lot of folks, myself included, think of hard money, you think of smaller deals that fix and flip, right? Or rehabbing a property, something that you’re going to r refinance out of quickly and find the negative potentially. When we talk about commercial hard money, where is the use case for commercial hard money? When would someone be going with a

commercial hard money loan versus going to a bank or, forming some type of fund or syndication to raise capital that way.

Moshon Reuveni (06:22)

Yeah, bank would not fund you loan unless you have two or three years taxes. You could get an SBA loan. And we do have lender who do it on our website. So I’ll tell you about it a little bit later. So we have a lot of startup companies that have really great concept and raise a lot of money. have millions of dollars in the bank. They won’t be able to get a loan from a bank because they don’t have the tax return. And sometimes they don’t even have the revenue to show they just starting. But they do have the order in place. They’re going to start.

producing income next year or by the end of this year, the bank would not touch them. So they need to go to private loans. Also a lot of the development loan like a lender want to, mean a client want to develop like a 50 lots, you got the subdivision and you want to develop it and…

He has a timeline, he cannot go to a bank because the bank will take like six months to approve him. Our investor could approve him in three weeks or four weeks and then he could start billing. So he pay a little bit extra, but it’s really not that important if he pay a little bit extra because it’s a short term loan. So if you pay instead of 8 % that the bank will charge him, he pay 11 or 12%. It’s only for six months or a year.

And then he get out of it and he get the money that he wants in time to finish the project. So we have a lot of development, a lot of subdivision, a lot of building other construction, a guy that bought a property in, he bought it from a bank and half of the unit were uninhibited. need to fix them up. The bank would not touch him, but he got a very good deal. He bought the building like maybe 60 cents on the dollar,

he want to get the loan, a bank would not touch him. Our investor will give him the money, give him even money to fix the place, about $6 million, $7 million. And so there are a lot, a lot of example of this nature. Basically where there is no bank available and there is a commercial opportunity and there is a profit for the client and for the investor, they’re going to jump on it. He’s going to get quite a few bids, and he’ll be able to decide which one is the best for him.

Dylan Silver (09:20)

I also want to ask you about this idea of the negotiation component. You had mentioned this several times. So in addition to providing investors with several different routes that they could take or several different hard money options, it also participates in the negotiation aspect of this with those lenders.

Moshon Reuveni (09:40)

Yeah, the negotiation is, it’s pretty good. The AI is very smart, we, let’s say you get like six different offers from six different lenders. The AI really looks at the offers and sometimes for an individual is very difficult because those offer are complicated. You have different conditions, different terms. The AI would look at this and will ask the client what is his preferences. Some people…

Time is the most important. They really need to close. They don’t care about the interest so much. They don’t care about the fee, but they must close in three weeks. Otherwise, they’re going to lose the deal. it’s meaningless. Some people, the most important stuff for them is the cash out, how much money they could get. If they cannot get, let’s say, $500,000 to build a place, it’s not going to work for them. Even if the rate is much better, somebody offered them only 400 at 8%, but they need.

they need more money, but they, know, so the AI find out what the client wants. And based on this, will tailor made a negotiation tactic with each lender. A lender that offer, let’s say the 400 cash out at 8%. I will get like a, an email CA, could you raise it to 500? A lender that offer the 500 at 11 % and get an email or.

get the message. It’s really not an email. It gets it all to the website. You’ll get the message. Yeah, well, I like your offer. I like the 500, but could you reduce the interest a little bit? Anyway, so that’s the negotiation is done this way. It’s the AI read it and the AI know what is there.

What is the limit? How much they could go down? You could calculate it. And it’s very, it’s amazing. I mean, it’s time to do it in such a way not to kill the deal. It always opened the door for negotiations. So it’s never like a harder, the messages. It’s not like, if you don’t do it, there is no deal, it’s, very gentle negotiation. I’m myself, I’m very surprised.

I can’t do it. I’ve been negotiating transaction myself. been doing it. I got my license in 1976 in real estate and I’ve been negotiating deals for years. I still have another company in California, which I do. I cannot, if you have a lot of offers from different lenders, it’s very difficult to even figure out what each one is one. And on our website, you really get.

quite a few people, especially if it’s a good deal, You could get like 10, 11 offer, good offer, trying to figure it out by yourself, it’s impossible. But again, it’s your decision. The AI is only give you suggestion and you look at this and you check it and you recheck it and you make your decision and you come up with whatever you want.

Dylan Silver (12:19)

I’d like to ask you about how lenders are currently shown on the platform. Are these folks who have currently a relationship with Lendersa or are is Lendersa scanning for all hard money operators and pairing the query with what’s available out there?

Moshon Reuveni (12:37)

Right now, all the land that we have, need to be members of Lendersa. Are we trying to vet them, make sure they have license to do? I mean, we’re not trying to just run out on the internet and find somebody. So all of them are pretty much vetted. We want to make sure that are licensed. Some are moneylenders for commercial, they don’t even have license, but they do have a company and they have a track record of able to provide loans.

And they get the leads right. When you ask for a loan, let’s say you need like a 400,000 to fix and flip, know, this loan request instantly going to all the lender that have a matching profile. Some lenders do only California, some lenders do only Arizona. Some lenders do nationwide. Some lender would not touch you unless it’s a million dollar or more. Some lender would not touch you unless your credit is 690. You have a lot of DSCR lender.

Some lenders don’t touch you if your credit is not above 620. I mean, they all have criteria that they have profile that they put on our website. So we know exactly where to send the lead initially. So there are like different stages. So quite a few lenders will get the lead when you request a loan. Many people will get your request right away. They look at this, they’re not only looking at what you…

like the loan amount and what you want and your credit. They also look at what you write because you need to write, you need to describe what you want and lenders need to read it. And sometimes the description is very important. you want the loan in like two weeks and lenders don’t do it in two weeks. They need three weeks. They won’t even call you back. Or you need the, you must get some cash out, like 200 cash out or you can do the loan. They won’t call you.

So they read it and if they like it, then they’re going to send you an introduction letter or they’re going to send you an immediate like a soft quote and that will negotiation start. Yeah. So yeah, all the lenders that we have right now are on the, on the website and you could also bring your own lenders. if somebody, have a friend, you have a broker, you’ve been dealing with somebody in the past, you could invite them to join.

and they could just put them on the website and they could compete against other people until you find the right place. So yeah, you are not limited to… The client doesn’t pay, don’t. If you want the loan, you don’t pay anything. You don’t need to, You could use your own lender, you could use our lenders, and you could compare your lender, our lender, and find out what is best for you and move with this.

Dylan Silver (15:04)

When someone submits a query, what’s the typical number of responses that they’ll receive? And is this instantaneous? Does this have details such as projected interest rate? What’s that response look like?

Moshon Reuveni (15:58)

Well, each loan request is manually being, you the lenders will get it instantly. If you put a loan request, let’s say you want $600,000, we’re going to broadcast it to everybody that have a matching profile. I mean, to the top of the matching profile, we could broadcast it to like 200 people or 100 depending on the loan sometimes.

be even more. Now, the reply is not automatic. Each lender need to really read it. You need to really look at this. So there is no automatic response because we don’t want to overwhelm you with 200 people telling you, yeah, I love to do the long, So they need to really read it and reply to you manually. It’s very quick, they need to, they could click some AI buttons and reply, but they really need to read what you wrote before the reply. But each reply that you get is already

screen reply. It’s not like an AI that replied to you. There is a person behind it that really want to do the long. And it takes about anywhere between 30 minutes to maybe five hours before you could get like five replies to it. depends on the line. You some people, you want like a 90 % loan to value.

It’s tough, if your credit is not high, you won’t get any reply. If your credit is good, you might get four or five replies. But if you have a loan request for a million, maybe $2 million in California at 60 % loan to value, you’ll get 15 replies. Even with bad credit, you’re going to get it, because it’s the loan to value is low enough and you have a good story. And people like California or some other state, Texas,

you’re going to get quite a few replies very, fast. And sometimes they’re going to linger. Sometimes you’re going to get a reply a day later or two days later. But normally after two days, you would not get, you would not see anymore. People want to do it fast and they like to reply fast. They know if you don’t jump on it fast, you won’t get any, anything.

Dylan Silver (17:51)

When it comes to experience as a contractor, right, many cases people are looking at these loans for rehab purposes as a as a fixed and flip or to do some type of heavy rehab. How will vetting the investor work? Because in many cases lenders don’t want to or are

Hard pressed to work with someone who this may be their first flip and they don’t have or have limited background as a contractor.

Moshon Reuveni (18:19)

Yeah, Excellent question. That’s a, yeah. All the DSCR loans are kind of based on a fix and flip. If you want to get those construction loan, are heavily based on your experience. If you get experience, you’ll be able to get more money, better rate. If you don’t have experience, the loan to value will be much lower. So that’s pretty much a big factor. Your experience, it’s like a credit, if.

People know that you could build and you have, you build like maybe four or five projects in the last two years, okay, if you build more, even better. Then again, some people don’t have the experience and we still have the lender who will do it. if the loan to value and project is, know, those are not the DSCR lender, but the private lenders, you have a good loan to value, good story. Let’s say you just want to, started in the business, you have a little bit of cash in the bank, you find a good project.

You won’t be able to go to the DSCR lender because you don’t have any experience, but you will find quite a few lenders that would give you a quote because it’s project makes sense. mean, the lender viewpoint is, listen, it’s a good project. I cannot lose, even if the guy does not, doesn’t have an experience, he doesn’t finish it, the project have like three bedrooms, so I’ll come in and finish it and.

I’ll give him the money. Hopefully he’s going to finish it. We don’t want to take the property, but worse comes to worse. We’ll jump in and we’ll finish it. it’s dependent. We do have a lot of vacant land. We have a lot of vacant land lenders. We’ll do loans on vacant land. Just loan to value will be low, of course, trying to stay about a little bit under 50%.

But again, if the land is ready to go and it’s in the middle of town, they’ll go up to 70 % if you have good credit or even more. So it really depends on the land. Some land, rural land, if it’s far away, know, limited, maybe 25 % loan to value, there is nothing on it. But if you already have all the utilities and the permits to go, yeah, you’ll be able to get a good one.

Dylan Silver (20:17)

If someone was planning on getting a loan for a land, this would have to be also for them to put an improvement upon it. Is that my understanding? That they you can’t be using a hard money loan if you don’t plan to make some type of improvement to the property. Is that correct?

Moshon Reuveni (20:35)

Not always. Generally, it’s correct. However, we have lenders, you have a piece of land, like let’s say it’s a lot ready to build. You went to the city, you got approval. You did not pull the permit yet, but you already got the approval. You could show the investor that you have an approval. So you spend a lot of time on it, but you don’t have the money to build, but you don’t want to build. Let’s say you want to sell it.

you did all the imp… you want to sell it. The land is like, let’s say, 400,000 because somebody could build like a $2 million property on it. But you’re going out of… you don’t want to build. You just want to sell the land. You could get maybe 60 % if you have good credit. Because the lender… Listen, the guy doesn’t want to build. If he doesn’t pay me, he has good credit. But if he doesn’t pay me, you I could sell this property in…

three, four months and I’ll get my money back. So it’s not, you don’t always need to have the money to build, if again, if it’s a rural piece of land, 200 acres in nowhere, very difficult, but still some lenders will jump on it. They’re going to give you maybe a 20%, 25 % on their property. They have already idea what they could do with it and they’ll do it. That’s the benefit. That’s really the big benefit on our website because you.

dealing with so many lenders and many of them are local people. So they know the land, they know the area. I mean, if you’re dealing with national lenders, they don’t have an idea. see 200 acres somewhere in the desert and they say, no, it’s not for me, it’s nowhere. But you might find an investor that is maybe live 40 miles away from the property, that somebody is planning to build a big shopping center in two years and say, wow, that’s a great land.

I’m going to lend on it because if the guy doesn’t pay me, I’m going to take it and I’m going to make a fortune. So that’s the benefit of having a lot of private investor, a lot of private investor in different parts of the country that could jump on deals that nobody else would touch because they could see the value.

Dylan Silver (22:33)

there’s a lot of difficulty that people encounter when trying to finance land. And one of the things that is sometimes confusing is you won’t know where to turn, right? And you’ll go to folks who you would think might know your lender for you use for your house, a hard money lender that you used for a fix a flip. Sure. And they might not have the connection to someone who would loan on land.

But now because of the increase in interest in new construction, and you have the corporate builders, but you have more people building it feels like in general over the last couple of years. That may be slowing down to some point, but it still feels like there’s a lot of wind behind those sales. Are there more people and more lenders getting into lending on land? Are we going to see more lenders interested in lending on land?

Moshon Reuveni (23:24)

Landowners are pretty much skeptical still of the market, So they’re a little bit on the sideline. So they would not, if it doesn’t make sense, it’s really boiled down to does it make sense for me? It doesn’t make sense for me. The problem with land in the last few years that I personally see there is

It’s really the problem of regulation, know, cities and states and counties, they all come up, make it very, difficult for development and they would not give you the permit. They’re going to run you through the really terrible stuff and lenders know about it and they’re scared. don’t want to, even if it’s a good land, they know it’s going to take them three years to get permit and they don’t want to wait.

So it’s really, again, it’s going down to localize, some areas, the regulation are very poor development and people want to help you and they want to develop the area and they’re going to give you the permit fast and some areas are very tough, So you need to know where to land, where not to land. Generally, I think it’s a little bit tough to get land right now. Unless the area, many, lenders will stay away from it. If the area.

You’re still going to do a due diligence before you do the loan. You’re going to go to the city, you’re going to talk to the inspector, you’re going to… Why not? I mean, it could be a very good deal. It needs to be a win-win for everyone, know. For the investor and for the client, If it makes sense, they’re going to do the loan.

Dylan Silver (24:47)

Like to pivot here, Mosho, and ask you about, how folks have traditionally been finding their lenders versus, the system that you’ve developed. So when I think of the hard money space, oftentimes I think of like RIA meetings and folks who know somebody and that person knows somebody. And sometimes it feels like it’s behind like a cloak and a dagger, like you’ve got to know the guy in order to know the guy. And what you’re doing is really

democratizing it, making it very transparent in a way. Do you find that the lenders themselves are prepared for this type of approach, or because they’ve always done business like I said, kind of through a referral network, that many of them find this hard to grasp on a surface level?

Moshon Reuveni (25:33)

Yeah, well, I’m glad you asked me this question. That’s why I really developed Lendersa. I’ve been a lender myself for many years and I still have a company in company which I lend, but it’s only local and I have a group of investors who do it. And the reason I develop it is exactly because of the question that you asked. if I need a loan, okay, I run to my investors. They look at the deal and they say, yeah, I’m going to do it.

I won’t do it, many of them are pretty smart, they know the area, but if they don’t do it, what am I doing? then I need to start calling other, I mean, I still have a client. I feel it’s a great deal, but my investor either doesn’t want to do it or his daughter got married, doesn’t have the money, he

out of town. I still need to find. So now I need to call my friend. I know I have a big network of broker, other lender that are kind of broker, but I don’t mind. I’ll give them, I’ll split the.

point with them, I want to get the deal done. So I need to call like, need to prepare a package and I need to email it to, I don’t know, five people, three people that I know and wait for them to answer me. And each one of them will call me and ask me questions and they’re either going to do it or won’t do it. And I need to negotiate with each one of them independently. Instead.

Lendersa really does all the work for me. I put a loan request on Lendersa instead of going to three people that I know it’s going to go to 200 people. So I have a much better chance to get the loan I want, and because it’s a wider range of lenders and investors and I could still go to my people that are not on the website and may or may not do it. So it’s not, mean, a broker, a lender who want to get a loan, you should use all the available.

resources that you have, including Lendersa But I encourage people to look all over the place and when they find something, they should still go on Lendersa and compare it to see if they could get something better. Now from a lender point of view, I wrote some blog on some places. I mean, it’s only a matter of time, but sooner or later, mean, AI will take over. It’s still very fractionalized and our field is very complicated. It still needs to…

I think that we are the only AI that does it right now. It’s just so complicated. So many factors involved in getting hard money loaned on. It’s a lot more complicated than a conventional loan. They only look at your credit and income and that’s it. They’re going to give you the loan. mean, if you fit the box, you’re going to get the loan. If you don’t, you’re gone. Also, rates are very much the same. One bank will give you…

quarter percent higher, sometimes if you shop around, maybe you could save half a percent, but without money. wow. I mean, you’re talking about variety, very, fractionalized. You could get difference of 2 % on the rate, sometimes 5 % on the point. could get one lender will offer you two points and another lender will offer you six points. You’re going to end up taking the six points because he could close in a week and the other guy could close in three weeks.

You need to close now. So there are a lot of consideration beside the interest rate and the point that going to hard money and, but sooner or later, some other companies like mine, maybe will come up right now. There aren’t any, but AI will take over. So I think that my prediction, maybe three, four years, it’s going to be a different, it’s going to be different. How money lending will be.

People will have no choice. We’ll have to use a website like mine with AI. They won’t have, not the investor. They won’t have a choice. They’re going to need to join in because nobody will call them because people would know that they could go to AI and, find, no option. Why would they call only one lender that may only not do the long. And if you are limited on time, that’s the problem. Many of these hard money are like

time concern. you’re limited on time, you don’t have a choice. You need to get in London. Why would you go to one person that is on vacation and say, yeah, I like it, but I’m, I know I’m skiing now and I cannot really, I’ll check it next week. no, but you need to know now. So you, need to call three more people and you can go to our website and you’re going to get answered today instead of waiting to the other investor to, look at your package.

Dylan Silver (29:42)

This also solves a problem, a big issue that people have of feeling like they need to sometimes have the lending in place before they can look at these deals. If they have confidence, if they’ve used Lendersa previously and they had success there and they know that they’ve got a track record there, then they’re gonna feel confident that the next opportunity that comes, they don’t need to have everything tied up in a blow beforehand. They can find that deal, lock it up, and they know that one of the lenders through Lendersa come through.

Moshon Reuveni (30:10)

Yeah, that’s true. Yeah, we do have an option. You don’t need to have a property. You could just put, you need to put like the location, like, where is it? is it Los Angeles? Is it Dallas? because we have different, investors that really, some of them would not go out of an area. So you could, you could request a proposal without having a property. It’s a little bit risky though, because really when it comes to private money, the property really means a lot. Each one of them is different.

but you could get some kind of an idea, but unless you have a property in mind, it’s really going to be difficult to get any valid approval. Also, lenders don’t want to waste too much time if you don’t have a property in place. We have some people calling me in the past, also on lender sign, and they put like, yeah, I want this and this, I have good credit. Yeah, you’re going to get some reply, but it’s not going to be conclusive because it’s…

The property that you buy will be the difference, you I’ve seen some properties that you could have a property in the same area. in Malibu, I was looking at the property and after the fire, a great property. And it’s a good location. Then I’m going to invest in it as a land. And after I did some investigation, I found out that there is some old…

geological stuff on the ground. There is no way to get permit on it. I would never get permit on it as a lender. The property next door was perfect. Two properties next door. So on both sides, you could build. On this particular lot, you could not build. So again, unless you have the exact property, the exact location, it’s really difficult to pinpoint what you can and cannot do. Sometimes you could do it, but it costs a lot of money to do casings and to do foundation and this and that. So it’s really a…

Having a property in mind is a big, and you don’t have to buy it. But if you have an address, just give us the address and then the AI does the investigation. Also, the lenders, not really running around looking at the property. They’re going to Perplexity, they’re going to ChatGPT, they’re finding out anything they need to find out about the property and they could give you an estimate. They still need to run down to the property and inspect it and sometimes go to the city because AI is not perfect.

you could get like initial approval with AI.

Dylan Silver (32:26)

the underwriting component of all of this is changing, right? Because it now one person can do the job of many people and you don’t have this decision fatigue, right? So if it’s later in the day, we might have a bias because it’s later in the day and we’re tired and we haven’t had coffee in a while. AI doesn’t deal with that, right? So it can continue to run at the same bandwidth basically infinitely long, provided there’s a power source and API can

credits right in the console. And so the limitation is really, how well versed are folks in currently their prompt. But then even that will become less complex with time with time and people will be able to talk to these tools just like we’re talking here. D do you see that in scale, even folks that are quote unquote mom and pop hard money lenders are delegating

most, if not all, of their underwriting at this point to some type of AI tool, or are they still going in themselves and, putting pen to paper so to speak and underwriting it manually?

Moshon Reuveni (33:29)

Yeah, again, it’s a case by case. think they start to rely more and more on AI just for the initial inspection. Give them an idea if it’s even viable. One thing about hard money, you need to give an answer fast. Either do it, you don’t do it, or you may be doing it. But if you don’t do it, it’s better that you tell the client you don’t do it so you could move on and that you keep your reputation. know, my best investor or investor will tell me no right away. It’s fine,

They don’t want to do it, move on, get the deal someplace else. But if they hesitate and they say they’re going to do it and don’t do it, or take too much time, you’ll never use them again, because, they’re just wasting your time. So investor, I think many of them are using AI right now to, they’re looking up and seeing the property and sort of, they used use Zillow, So like Perplexity, for example, they use, they could take all the Zillow, Redfin and.

a Realtor.com and combine it and give you a report in two minutes. You could see what each one is doing, they’re doing their own stuff. So you could get a fairly accurate report. Again, when it come to like a house in a city or suburb, but when it come to vacant land or construction, it’s more complicated. So you need to do more research and you need to, many times, need an appraiser or an older appraiser to find out where you more permit.

et cetera, but AI is very, great tool now to initially get you the area for most normal properties. Again, unusual property I found myself, just the other day using Perplexity, find errors, sometimes significant error in the AI interpretation of the property or they just, they don’t, they’re not there yet, I’m sure that

As AI get improved, their sources get improved, they’re get more accurate, but right now it’s really good for initial inspection and then you need to jump in and do your own due diligence.

Dylan Silver (35:24)

We are coming up on time here, Moshon Any new projects or activities that you’re working on these days? Also anything you’d like to mention directly to our audience.

Moshon Reuveni (35:34)

Well, I, I’ve been developing it in the last 10 years. It’s, really coming along very nicely. A lot of improvement already in a lot of tools and AI agent, we have this AI agent right now that really follow you in your adventures from the moment you put the long request. And it really like ChatGPT that you have on the side of your computer or a co-pilot that you, is that you run on your document, it.

tells you what’s happening and give you suggestion and ideas on what to do and what not to do. So that’s coming up. It’s still in, but it’s getting more and more, we’re putting it more and more because it’s really want to help the people. It’s complicated subject. It’s really difficult, people who understand how money learn. Sometimes it take people years to understand it fully. And AI is very useful to explain things and compare.

and loans for you. it also, we have now a tool that you could find out, let’s say you got five offers from five lenders and you could give a command to the AI with one button to check the lender, to find the background on the lender to see who you’re dealing with. Because some offers, know, some lenders are not that, they might give you a good offer, but they’ll never find, or now they need to look around for an investor. We have a lot of brokers.

Which is good because many of our brokers are very good brokers and they’re connected to private investors and there is no reason not to use them. But if you could check on them using our tools, you could make your own decision. See, do I want to go with this guy who offered me 8 %? But well, I don’t know. I mean, the AI said that he didn’t fund anything in the last six months. He did very good job two years ago. So anyway, give you, give you tools and you could make your decision. And so that’s.

something that’s coming up. We like also lender. We always need more good investors, more lender to come to our website. I really invite lenders to come and join us because they’re to get good deal. And many times they could charge more money if they act fast. We have a lot of the lender that getting the deal done not because they offer the best interest rate or lesser point, but because they could close fast, because they say, yeah, I’ll do the loan. There is enough.

equity, they could close in a week or two weeks instead of three or five weeks. They’re going to get the deal even though the rates are a little bit higher or the points are a little bit higher. They’re going to get the deal. So if you are a good lender, if you are a local lender, national lender, we really invite you to join Lendersa. Come in, register, it’s free. Our system, the way it works is that you don’t pay anything until you close the loan, which is great for the lender.

You could just look at everything, make up your decision. If you fund a you give us a marketing fee. It’s not a commission, it’s a marketing fee. It’s very small percentage. Now we don’t cut into your commission, we don’t cut into your profit. So we really invite all lenders and all brokers to join us and get some good fresh leads. And of course, client to need loans, commercial loan, that the bank would not touch, come to us. If you’re not sure if the bank will do it or won’t do it.

still come to us because we do have banks on our website. And if our AI finds out that you qualify for a bank loan, you’re going to get the bank loan, forget the hard money. I mean, they just check your credit, they check the property and say, yeah, no, you could get, you could get a six and a half percent. You don’t need hard money. 30 years, low point. Yeah. So you’re going to have this option. And so if you aren’t sure what loan you could get, yeah, by all means, it’s free to log in. It’s very fast. And I think you’re going to like it.

Dylan Silver (39:08)

Moshon thank you so much for joining us today. Thank you for your time.

Moshon Reuveni (39:12)

Yeah, thank you.