Archive
Why we use private money lenders What I’m about to tell you may come as a shock, but I have only applied for a mortgage through a bank one time in my life… and I was denied. To make that fact more interesting, you should know that it happened in February of 2020. I have to tell you I was little surprised myself. It happened as Ashley and I were expecting baby No. 3 and were looking...
Risk versus reward I had a really good opportunity for a private money lender, recently. I emailed the information to everyone I thought would be interested. The deal was to loan money to us at 6% interest only. I noted in the email that 6% was three times what the, and I quote, “high yield” CDs and bonds being are offered for in 2020, according to bankrate.com. The loan was only...
Make sure they understand People tend to naturally say “No” to things they aren’t familiar with. This is a reality real estate investor must overcome in order to get a “yes” on a creative deal structures when talking to sellers. You do that by making sure they understand what you’re proposing. Take owner carry-back financing for instance. Most people are accustomed to the idea of...