Let’s face it. For the majority of you starting off in real estate investing, finding an external source of funding to purchase (and repair!) your properties is the best route to avoid putting too much capital into any property at once. In fact, even experienced investors who are “property rich, cash poor” often require a loan or creative financing to continue growing their portfolio.
Since bank or credit union loans often require a lot of documentation and take a long time to close, it’s important to have choices. If you are dismayed by the long process involved in acquiring a bank loan, private money/hard money may be a great option for you to secure your desired property with minimal cash down.
Perhaps you’ve decided to pursue a private loan for your next property or one that you currently have under contract. What do you need to know in order to find the best rates and find a lender that works best with your style of acquisition? Read More