Posts Tagged 'hard money'

3 Sources of Private Money

Posted on: September 27, 2011

Categories: Other Articles

Author: lbuen

3 Sources of Private Money

As you may already know, cash is the lubricant of any real estate business, or any business for that matter. With ready cash, you can command a better bargain when acquiring a property as compared to buying it under financing. By eliminating the red tape involved in obtaining funding from traditional loan, ready cash allows you to focus on your actual money-making endeavors – looking for great deals and managing renovations. With ready cash, you can instantly seize opportunities that come your way without the need to forage for funding. Hence, it allows you to make money faster. But where do you get ready cash? Private money is a faster, more convenient and flexible way of securing cash for your deals. Let us take a look at some of the financial headwaters for this informal type of funding.

1. Get

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What is a Hard Money Lender?

Posted on: November 7, 2009

Categories: Buy

Author: buyfixandprofit

What is a Hard Money Lender?

Short-Term Loans

A hard money lender makes short-term loans based on the value of an asset, in this case a property, with little regard to the borrower’s credit and/or finances.  Hard money lenders charge higher interest rates than standard banks due to the high risk nature of these loans.  Unlike traditional banks, hard money lenders can provide funds quickly, usually in 10-14 days, to purchase and rehab distressed properties.  These properties can be in need of significant repairs or be in various stages of foreclosure. This makes these loans popular with first time real estate investors that have little working capital or poor credit scores.  Look to use hard money loans to rehab foreclosures as your means to purchase and rehab your first couple properties.

Rehabber Loans

Hard money lenders will only provide loan terms of 4 – 6 months at… Read the rest

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What is a Hard Money Lender?

Posted on: September 15, 2009

Categories: Reviews

Author: buyfixandprofit

What is a Hard Money Lender?

A hard money lender makes short-term loans based on the value of an asset, in this case a property, with little regard to the borrower’s credit and/or finances.  Hard money lenders charge higher interest rates than standard banks due to the high risk nature of these loans.  Unlike traditional banks, hard money lenders can provide funds quickly, usually in 10-14 days, to purchase and rehab distressed properties.  These properties can be in need of significant repairs or be in various stages of foreclosure. This makes these loans popular with first time real estate investors that have little working capital or poor credit scores.  Look to use hard money loans to rehab foreclosures as your means to long term wealth and financial freedom.

Hard money lenders will only provide loan terms of 4 – 6 months at which time the… Read the rest

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Why Real Estate Investors Need to Develop a Relationship with their Bank

Posted on: September 15, 2009

Categories: Buy, Residential House

Author: buyfixandprofit

Rehab Financing Made Easy – Develop a Strong Relationship with your Local Community Bank

Find that investor friendly community bank located in the neighborhood where you will be buying and fixing foreclosures.  Be upfront, truthful, and communicate openly with your bank’s lending officer.  Develop a strong relationship based on open communication and most importantly consistent on time payments. Keep the lending officer abreast of your work so they get to know you and eventually the bank will treat you as a preferred customer.  They will be more willing to work with you in hard financial times or with special requests.  It makes smart financial sense for lending institutions to work with their borrowers during difficult financial times rather than enforce their strict guidelines with no flexibility.

3 Month Payment Deferral

Here are two… Read the rest

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