Posts Tagged 'money lenders'

5 Valid Reasons For Obtaining Loans From Private Money Lenders

Posted on: April 16, 2011

Categories: Other Articles

Author: lbuen

5 Valid Reasons For Obtaining Loans From Private Money Lenders

Funding Real Estate Deals Using Private Money

Private money lenders are a fantastic source of funding for your real estate business. There are several strong points you can get when you finance your deals with private money compared to traditional loans, lines of credit, bank loans and other types of financing.

Perks of Private Money

Private money played an important role in fueling my real estate business forward. Even when I was just starting, private money has been there to help me close bankable deals. The following are some things I like about this form of financing:

1. No Credit Probe. Your siblings, dad, aunt or anyone in the family could be your private investor. You can also request for private funding from friends, business partners and through referral of people who do not want their spare money to… 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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