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Private money
has, for years, been an alternative funding source. These
days, however, with the tightening of lending standards by the
banks, private money has become a viable option for even the most
highly qualified individuals.
Private money is
typically funded by individual investors or through pools of such
individual private investors. The absence of bank underwriting
requirements allows us the flexibility to structure private money
loans to meet the needs of borrowers that fall outside of the box
for banks.
This includes
real estate investors and developers these days. Even highly
qualified investors are using private money to leverage their
existing cash and/or to finance the build out of real estate
projects. With many banks setting limits on how many
properties a borrower may own, private money is not just for
individuals with challenged credit any more.
The biggest
factor when dealing with private money is the underlying value of
the real estate that is being used to secure the private money loan.
The more equity available, the more likely we are able to overcome
other issues.
For more
information on private money lending, please contact us today.
Typically, a fifteen minute phone call is all it takes for us to
determine whether or not we can help with your financing request.
If you prefer,
you can also email me direct with your private money scenario and I
will get back to you with additional questions or an answer
regarding your request.
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