Private money lenders

[Poornalakshmi Elangovan]

Hi,

  Anyone knows 100% financing private money lenders? I'm interested in buying rental property in Jersey City and curious to know. Kindly, assist me!!

Thanks in advance,

Poorna

[Mitch Messer]

Hi @Poornalakshmi Elangovan. I doubt you'll find many (if any) private money lenders (PMLs) offering 100% financing. Look at it this way: At 100% financing, what value would you be bringing to the table? What is your risk if things don't work out? If it's zero, why would that be good for any PML?

PMLs generally want to see that borrowers have some skin in the deal, perhaps 5-10% of the purchase price.