Private,Lending,The,Six,Steps, finance, share, loan Private Lending: The Six Steps to a Private Lending Program
Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track
Wow, has the real estate market changed in 2008! Real estate investors have been shut out of traditional mortgage money unless you have a 9000 credit score and a 50 year work history without missing one day of work (ok enough of the weak humor but you get the idea). Even hard money loans are HARD to get as they have all gone out business. But just as the mortgage market is shunning the investor - we are starting to see signs that the reals estate marketing is starting to bottom and home prices have even gone up in some markets. So how do you take advantage of this buying opportunity if you can not get mortgage money from traditional sources? Private lending is the answer. You can start borrowing money from private lenders to fund your real estate investments. Raising private money allows you to take advantage of the low prices without ever using any of your own cash or personal credit.There are several significant benefits and advantages of private money lending compared to mortgage money or hard money lending. First, you can begin buying more houses for ?all cash? offers and drive significant discounts from sellers who are highly motivate to get cash versus waiting and hoping another buyer will get a mortgage approval.Second, very simple paperwork with a typical private lender transaction only requires 3 or 4 documents with less than 20 pages. Third, the real estate investor controls the terms and conditions under which you will borrow money and the lender will lend. You tell the lenders what rates of interest you will pay, how long the term is and all the other conditions are set by you not a bank or hard money lender. Finally, you can turn many non-deals with no equity into super profitable deals with substantial equity by paying off existing debt at a discount... using private money. 6 Steps to develop a private money program for real estate investors:1) Develop your private lending program and the terms and conditions under which you will borrow money and repay your lenders2) Build your info/credibility kit to establish yourself as investing expert3) Create a marketing plan with 5 to 10 different marketing techniques to attract potential private lenders4) Create your group or one-on-one presentation5) Schedule group or one-on-one meetings and follow-up with potential lenders6) Present and close deals with your potential lenders Given the new market realities, private lending may be the only option if you want to buy and own investments and take advantage of the low prices. Article Tags: Private Lending Program, Real Estate Investors, Private Lending, Lending Program, Real Estate, Estate Investors, Mortgage Money, Hard Money, Take Advantage, Private Money
Private,Lending,The,Six,Steps,