Real estate investors can not find a traditional mortgage lender that will meet their financing needs? Then you may consider your partner for private real estate lending to be a private money lender. Private money lenders will provide you the loan money to buy real estate investments in the right investment opportunity.
As long as you have equity in the property and an exit strategy to pay them back, a private money lender should be easy for you to find. Here are some places to look for your money private lenders.
- Mortgage Consultant
- investment club
- Real Estate Seminar
- other investors
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A private money lender provides interim financing faster to purchase, rehab and sell a single-family residence or commercial property for you. They do not require a credit check or traditional guidelines such as banks and other financial institutions. Basically, private money lenders are looking for a reasonable deal with a rapid return on their investment. They also provide short-term bridge financing gaps. It can take as little as 5 days to get your financing.
So if time is of the essence, a private money lender is the answer to your prayers. You can get fast cash for real estate foreclosures and other hot investment deals.
In these times of tight financial markets, it is much more reasonable for you to use a lender instead of a traditional mortgage lender. You should compile a list of private money lenders so that when you find a great investment, you're ready to go. You will never have to worry about how you will fund your project. This way you can concentrate on rehabbing the property and selling.