All Forum Posts by: Kendrick Walker

I've done Private Money from family and Private Money from Real Estate Investors - family I've always done at 5.5% - they are there to help and it beats .001% from a Savings Account.  Win win for both sides.  Private Money from a Real Estate Investor, usually through a Hard Money company - I've paid from 8-12%.  I've done both scenarios on rentals and flip properties.  I've used family lent money at 5.5% from several family members on about 15 deals.  Private Money through a company at 8-12% on about 65 deals.  Private through a company has always been a collateralized loan to the subject property.  Family loans have always been done as non-collateralized loans with a personal guarantee, so that no matter what happens to the properties, I will pay them back.

Everyone does it differently - but this is how I've done it successfully for over 80 houses fix & hold and flipped properties.

Best of luck! Ken

I've purchased rental properties with all cash and Hard Money.  Have 10 rentals now.  All cash flowing and have great equity growth.

Hey Steven,

That's awefull!  If you want a good lender I can refer you my guy.  I owe numerous properties and he is always my go to guy for conforming or conventional loans.  Fast reliable and in communication.  You can call me if you want his number.

Having been in Hard Money for 27 years - there is no difference.  There are some who refer to Private Money as individuals lending vs. a company lending, or Private being shorter term than hard money or more points than the other, etc. but in fact they are synonyms. If you search for Private Money or Hard Money companies in your area, county or state you will find companies that do this type of lending.

I've received Hard Money from 5.5% interest only to 11% interest only.  Good for short term fix and refinance into conforming or conventional loans.

If you wish to invest your money, I've found investing through a Hard Money company will give you the best return - up to 12% on money you lend out.  Better protection as well.

It would depend on your credit, property condition, etc.  What lender are you using?  Conventional/Conforming or Private?  Private - seems it may be about right. Conventional or conforming - very high.

I have purchased 11 properties now both Primary Residence and Investment properties - all purchased with Hard Money.  Rehabbed them and then paid them off or refinanced them into 30 year conventional financing.  I owe all of my current wealth to the use of Hard Money/Private Money.  I am also a Loan Originator for Hard Money in California and see hundreds of people using Hard Money to their benefit.

Best way to find Private Lenders is Google Hard Money or Private Money in your City, County or State and you should find a bunch.  I'm a Private Lender myself and my company does Private Lending - in California only though.  From what I've found is, you just need to make sure that you find a Private Lender that is not going to charge anything up-front.  They should be like any other lender and when Escrow closes they get their compensation.

Thanks Antonio - I will!