How I Find Private Money Lenders to Fund Deals | Real. – · Private money lenders typically care more about the deal than they care about your credit score. They want to know you have a solid track record of flipping in order to feel good about handing you a six-figure check. They want to be protected by having a first deed of trust (mortgage) on the property, so their money is secured by a hard asset.
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Better than Hard Money. Use these Private Lenders instead! – STOP! And read this first. Most hard money lenders charge 16-18% interest and thousands in up-front fees. By the time you factor in the loan costs, there isn’t any profit left in the deal for you. In addition, hard money lenders have tightened up their borrower requirements over the last few years, so actually getting them to fund your deal is next to impossible!
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How I Used Real Estate to Pay for My Newborn Daughter’s College Education – Sure, I could have put down a large down payment, but real estate is so much more fun when you can put together a deal using only other people’s money. For this particular purchase, I used a private.
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