private money

Understanding Private Lending – Part 3: How to Find Private Lenders and Get Funded

by Justin Pierce | August 16, 2009

Oh have faith yea disciples of the deal; it is possible to find a lender who will loan every penny of the purchase price of a property. Just like it is possible to find a property that can be bought with no money down, but know that both endeavors can be laborious. Real estate is one of the few business games where the ante is affordable to anyone with a little gusto, and success is possible for those with a lot of diligence and perseverance.

Where to Find Private lenders

Classifieds advertising sites such as Craigslist.com. Look under services and financials.
Do an internet search using any search engine type in “hard money” or “private money loans” etc.
Check your local newspaper classifieds under money to lend or finance.
Go to your Real Estate Investment Groups meetings.
Patrol real estate investment websites like BiggerPockets.com
Network with other real estate investors to see who they use.
If all else fails you can even call mortgage brokers.

Researching Lenders

Search far and wide and you’ll find a couple of good private lenders. There are no certifying bodies for private money and there is no central association. Anyone with a lot of money can essentially lend it out, so sometimes you may run into a lender who is not legitimate.

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Real Estate

Pterodactyls, Dodo Birds, & Hard Money Lenders

by Richard Warren | August 10, 2009

Is the hard money lender (HML) extinct? At the height of the boom they were everywhere and they couldn’t give away money fast enough. We know what happened to conventional lenders, they tightened their credit standards to the point that it can be almost impossible for even qualified borrowers to obtain financing. Wouldn’t this make HMLs even more valuable? Couldn’t they command even better terms for their loans?

Dodo Bird

They certainly are more valuable and could command better terms if they had money to lend. Just who are these HMLs and where are they hiding? The majority of these lenders are no longer in business. They had companies with fancy sounding names and nice websites, but many of them were no more sophisticated than the novice investors they were lending to.

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Real Estate

Understanding Private Lending: Interview with a Private Lender Part 2

by Justin Pierce | August 2, 2009

Last week I spoke with a private lender who loaned her own money and brokered here own loans. She operates in Northern Virginia and takes great interest in the borrower. Her operation is small and she does not have any time or desire to foreclose on a property thus she tries to ensure she will not have to by dealing with experience investors who have assets and usually money to put into the deal.

To get a little variation on this topic I spoke with a different flavor of private lender. David Williams is a hard money lender located in Utah. The differences between these lenders are more than just their geographical location.

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Real Estate

Understanding Private Money: An Interview with a Private Lender, Part 1

by Justin Pierce | July 26, 2009

There seems to be a lot of curiosity, myth, and maybe even ignorance when it comes to private lenders. So, hoping to shed some light on the subject, I had a candid conversation with a private lender with whom I’ve worked with, and respect. She did not want to have all of her information listed because she doesn’t want to get bombarded with phone calls. So, I will just refer to her as Patty. Patty does want to hear from good investors, however, and I’ll tell you how to get in touch with her later.

Patty has been lending for about 10 years. She is unique in the industry because she is a trained lawyer with extensive construction experience. The money she lends is mostly her own, but she does use some money from friends and family, on occasion. When you borrow money from her she drafts all of the loan documents and the deed of trust herself; there is no third party lawyer involved, except for the title company’s lawyer. She is literally a one stop shop for a private loan.

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Real Estate

Five Ways To Get Money Today…

by Jason Hanson | July 7, 2009

What’s the number one excuse of many new investors? It’s the age old…”I don’t have any money”. I don’t have the money to buy a house, to get a lawyer, to go to a seminar, to buy a book, to get some postcards for marketing, to buy some bandit signs and on and on. Of [...]

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Real Estate Investing

No Money for Real Estate Investors? What Are We Doing About it?

by Rosie Nieto | January 28, 2009

I have been spending a lot of time over the last couple of months in the trenches of “show me the money.” Right now, there are no loans for investors with 4 or more houses – period. I did find a bank that is still doing loans for investors with more than 10 homes… but what was the [...]

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Mortgages & Lending

Is Private Lending Right For You?

by Rosie Nieto | January 9, 2009

More and more pension plan, IRA, CD, Stock Market investors are opening their eyes to trust deed investing because it allows them to be in charge of their money. Being a private lender is a way for someone to move from being a passive investor, which allows your stock broker or pension plan manager decide [...]

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Financing Real Estate

Simple Rules for Raising Capital, Part 2 (Now It Gets More Complicated)

by Matt Pitcher | December 5, 2008

In my last blog, “Simple Rules for Raising Capital”, I hit some very basic high points that I think you must follow to become a world class capital raiser. This blog gets into more detail on that subject. What follows is what I call “The Four As of Capital Raising” 1 – Accredited This one [...]

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Financing Real Estate

Simple Rules for Raising Capital

by Matt Pitcher | November 21, 2008

Piggybacking on my last post, “The Importance of Being Nimble“, I’d like to blog today about something that is absolutely critical to your ongoing investing success: raising capital. In my opinion, it is a skill you must develop. Must. Not should. Must. Once you become very very good at raising capital, any amount of capital, [...]

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Financing Real Estate

How to Raise Private Money for Real Estate Deals: 3 Basic Steps

by Rosie Nieto | November 19, 2008

Well, pretty much everybody raised their hands at my club meeting last week when I asked this question. Boy you can’t swing a dead cat around without hitting an investor who is looking for private money these days huh? To be frank – I’m getting kind of bored hearing so many investors tell me this same problem [...]

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Commentary

Under Analysis…the Latest from the Real Estate Investment Style of Investorino

by Milton B. Yates | April 15, 2008

If I could just take a few moments and vent about my frustrations with real estate investors who do not follow formulas and do not stick with systems. Sheesh! If it isn’t one bad deal working it’s three bad deals working. Are times that bad that you have to reach for a good deal? NO! [...]

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