private mortgages: "Hard Money" makes sense for good credit borrowers - 12/13/06 05:10 PM
Why would a borrower with a 736 FICO score get a hard money loan?
I'm deviating a bit from my earlier blog, So you want to be a California Hard Money Broker?  I know I promised more detailed information about  the disclosure process in California Hard Money transactions and I will.  Tonight, I'm not up to that arduous task.  I'll share with you some reasons why a borrower with GOOD credit would actually pay the high points and rates associated with a "hard money loan"
Introduction:  Private mortgages or "hard money" loans are all about taking on risk that is unacceptable to conventional … (22 comments)

private mortgages: Investing in California Mortgage Pools - 11/10/06 08:09 PM
I am a private mortgage lender which means I make real estate loans (non-bank loans) to individuals who can't qualify for bank financing.  In California, this is sometimes referred to as Trust Deed Investing because the security instrument (how you secure the collateral) we use is called a Deed of Trust.  The loans can be risky of default and subsequent foreclosure.  This is why we don't make loans for more than 70% of the value of the property.  The returns, however, are very attractive.  It is not uncommon to earn 11-15% interest on trust deeds.  I think they are relatively safe … (8 comments)

private mortgages: New website - 09/25/06 04:44 PM
Tonight I released the beta version of our new website about trust deed investing.
I built it through register.com with their 5-page now website kit.  I have no doubt that it looks amateurish to all of you e-pros out there but I got it upand running within 2 hours.  I had nothing before.
I spend a lot of time on the phone and in person networking with investors and brokers to build my private money lending business.  Now I have something to show people.  It may not be perfect but you all know the old saying..."An imperfect plan today is better than a … (3 comments)

private mortgages: What is "Hard Money" Lending - 09/08/06 10:09 AM
Hard Money Lending is exactly what it sounds like; loans that are hard to do.  Many borrower's needs fall out of the mainstream loan guidelines and they often need a "short-term" fix.  Now I want to be clear, this is not an advertisement for my private-lending practice; it is meant to be educational so that Realtors know that there are other options out there and mortgage brokers might expand their horizons to fill up their pipeline.
A private loan is essentially someone with a lot of money lending to someone who needs it and can't get it from banks or mortgage companies.  … (15 comments)

 
Brian Brady, 858-777-9751 (San Diego VA Home Loans/858-777-9751) Rainmaker large

Brian Brady

858-777-9751

San Diego, CA

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San Diego VA Home Loans/858-777-9751

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