ARE YOU USING PRIVATE MONEY TO CLOSE MORE REAL ESTATE DEALS IN YOUR MARKET?
I work mainly with investors who want great deals and want to invest the minimum in order to reserve their cash for more deals. So, I have been able to develop relationships with private individuals that will loan thier money out to other investors at a normal 18% short term bridge loan in order to get a better return on their money. The private lender is in first lien position on the property. It has been working out quite nicely in my business.
Here are some of the advantages of using private money when dealing with real estate investments:
- Receive a discount on the property since one is closing faster
- No credit check
- Ample funds
- Cash flow
- Obtain money for repairs
- Flexible terms
- Develop key relationships
- Creative methods when structuring the deal
- Several exit strategies
- Higher return on one's money 18% or more
- Create a note
Does anybody else use private money in their real estate business? Tell us your success stories
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