Private Money Lenders vs Hard Money Lenders

[Max Y.]

Typically private money is money that comes from a private person lending money. The biggest problem with private money is finding the person to lend you private money! The person loaning the money is not a bank, mortgage company, hard money-lender or portfolio lender, they are just a person. Regular people will lend money on real estate because interest rates on other secured investments are really, really low now. 

Have you looked at what the rate is on a CD? For a five-year CD the average pay rates are not hardly worth tying up your money! You can’t even come close to keeping up with inflation with that rate. On the other hand Hard Money Lenders are private companies who lend out capital to fund real estate deals. Typically, Hard Money lenders follow a their own structured underwriting protocol to determine lending approvals. Moreover, Hard Money lenders do not follow same lending guidelines as conventional banks. Most often, so-called Hard Money lenders can be third party brokers incorporating their fees into the loan, and brokering the loan to a direct hard money lender being that they are not direct hard money lenders. 

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