How do I work with a Hard Money Mortgage Lender

Hard Money Mortgage LenderHard Money Mortgage Lender

In the world of poor credit for investors the best choice is to work with a Hard Money Mortgage Lender. Using a Hard Money Mortgage Lender makes it so that the opportunity to invest is based more on the Asset’s Equity than your credit score. Hard Money Loans are a good way to get a property purchased and ready for rehab or renting on short term finance.

There are many that don’t want to live according to their credit score and using a Hard Money Mortgage Lender is a great way to do just that.

Where do you find a Hard Money Mortgage Lender

They say Google is everyone’s friend. It sure can be.

When used properly, Google can get you to the right company. Be aware though that google can also take you to lead generation sites that are marketers looking to sell your information to actual brokers making it a deal where there is more than one or two people involved. It could mean you’re paying a higher price to get that Private Money or Hard Money Loan.

Hard Money Mortgage Lenders have generally higher interest rates and are more willing to look at the property that you’re looking to finance rather than you.

It is a good idea however to do your best to put your best foot forward.

Hard Money Mortgage LenderMake a good impression with your Hard Money Mortgage Lender

When reaching out to a Hard Money Mortgage Lender, take note that they may want to check income and credit just to be sure they can qualify you a bot more than usual.

Even with our Private Lending Group, we’ve found that making sure someone can actually afford the payments has made a great difference in the amount of defaults with self employed investors. It’s not that we don’t want to lend, it’s that we don’t want to take back properties. It’s a long and arduous process no matter what state you live in and it’s just better business to be prepared to handle the cost of money into your formula for success.

Make sure if you do have challenged credit you have a Letter of Explanation and if you don’t have trackable income, be prepared to have longer conversations or to be passed on when it comes to lending. Many Hard Money Mortgage Lender are now following the path of checking on the borrower a bit more. It makes it safer for all sides. Protecting the borrower and the investor/lender.

If you want to learn more you can always reach out to us via the number on the website, or click here to apply for a Hard Money Mortgage Loan.

Hard Money Mortgage Lender

 

 

 

 

 

Find your Hard Money Mortgage Lender today

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How Hard Money Can Make You Killer Profit

Hard Money

Hard Money as a Profit Maker

Using Hard Money as a Profit Maker is fairly easy. It’s running the numbers so it makes sense that isn’t.

If you haven’t gotten a mentor to help you or don’t have calculators, (which by now you should have searched out online; there is a ton of them) you’re shooting blind and your profits will get eaten up quickly.

And it’s not just about running numbers on a calculator either. It’s about knowing your risk and how much you are going to make on the back end.

What’s a good “rule of thumb” for Hard Money

A good rule of thumb as far as profit margins should be about a net of 30% or a cap rate that gives you a good spread on your investment. (GREEK ANYONE?)

Let me explain:

30% net profit is what you have left after paying off your finance and equity partners and counting all costs involved in the transaction of securing the property. The rest of the costs (Title, escrow, commissions if any, other miscellaneous costs) would probably bring you down to about 20% or so. This is really more for rehabbers.

Hard Money

Become a Private Lender

On the buy & Hold side, many look only at the return of a deal rather than the risk. Beware! Just because it says there’s a cap rate of 12%, doesn’t mean that’s what you’ll end up with in cash flow. Using Hard Money is a great way to leverage risk off of you, however it can hurt you as well if you’re not careful on figuring out risk in an investment. (if you’re not sure how to figure on that, we’d be happy to discuss your project and see whether or not you are looking at a viable deal.

Your biggest challenge is to be sure you have something that has a great return after paying expenses, not just great returns.

Know your Hard Money Lender

I see a lot of newbies calling around and asking the same questions as if it’s on the lender that they have to prove their worth working with. (I always get a chuckle out of that) Hard Money Lenders are there to serve you, sure. Remember too though, that they are more like a partner than just your servant. You’re going to have to qualify with them too. And if you don’t know how to figure out the above, it won’t matter how good a lender they are, you’re not getting that Hard Money anytime soon.

Invest in education. It’s a good thing, however, don’t just take that “guru’s” advice and goo out and qualify the lenders, qualify your deals.

When you have a good deal with low risk and great return, you’ll have money knockin on your door. Hard Money that is.

Apply for your Hard Money Loan by Clicking Here

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Invest Now with Private Money Loans to Back You

loan app approved

Private Money Loans are still very much available

Living in San Diego which just became the most exclusive place to live per the UT San Diego (click here for article), doesn’t have to be a challenge. Most investors know that if they can secure a good deal on an investment property there is such an influx of people coming to live in San Diego that it’s very possible to find a cash flowing property. Most investors are wary when the cost of acquisition gets to be in the higher amounts. The savvy ones know to work their numbers just right so they can gain a good cap rate and recover investment quickly.

San Diego has long been a very coveted area for living alone. Now it’s become a great place to hunt for a good deal and get a cash flowing property online in their portfolio. With foreclosure rates lowering one may think that finding a “good deal” is not as possible. From our contacts in the region, that just isn’t true. There are still deals available on the market. You might have to dig a bit, but they are there.

When it gets expensive, Private Money Loans are a great way to go

Offsetting up front monies by using Private Money Loans is a great strategy that many investors use. In the San Diego Market it makes even more sense to use Private Money Loans to get the deal done. It lessens the layout of the investor up front, and in the long run can allow an investor to be looking for other opportunities.

Another advantage of using Private Money Loans is the ability to increase equitable profit on the back end if you’re planning on fixing and flipping. Because you’re paying Interest only in most cases, even though you aren’t paying down principle, you are looking to the profit on the sale. (hopefully you’ve made your money when you inked the sales contract and aren’t hoping for profit on the back end)

Private Money Loans allow Investors such as yourself to increase your net worth faster and in a market like San Diego, using Private Money Loans are a definite way to increase your net worth. (On paper, you’re the owner you can claim the worth)

Private Money Loans are available

Private Lending Group is currently working with private investors that want to lend in the San Diego area and we are at the ready to take your application and get your funding. We can lend up to 65% of LTC (purchase price and repair). We have conventional programs that can help as well if your credit is good enough. (call to find out how to qualify for that program) Those can go as high as 75% LTV (Actual Loan to Value)

Call today to find out how you can qualify your prospective property for a Private Money Loan.

619-512-3464 

Private Money Loans

 

 

 

 

 

 

 

 

 

 

 

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Earn as much as 10% on your money as a Private Money Lender

If you haven’t thought about becoming a Private Money Lender

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Private Money Lender…good title for you?

You’ve worked hard for what you have. You know you deserve better with the banks no longer paying anything more than even 1% on any financial products they offer.  So what do you do?

There are a ton of program out there offering you to invest with them. From Stock Market to Real Estate the options are pretty varied. The big question is, “Where can I get the best returns on my money?” Perhaps one avenue you should consider is becoming a Private Money Lender.

The big deal about this is the ability to become someone’s helping hand in deals they themselves either need help doing, or know how to do but just need that extra push to get their project completed. By becoming the bank for them you eliminate a LOT of headache for the Active Investor. You negotiate the terms that you are willing to settle with and both you as the Private Money Lender, and they, the active investor, both come out on top.

Free Report on how to become a Private Money Lender

There is a free report you can grab here to see how you can actually beat the banks pretty badly by becoming a Private Money Lender. Think about it, your financial adviser couldn’t guarantee that rate of return. It’s just not possible. As a Private Money Lender, IT IS! You are able to set terms and SECURE the Return via a deed of trust or mortgage and note. (Among other legal instruments)

Click Here to get that FREE report.

Becoming a Private Money Lender is not as simple as you think

Not everyone knows how to become a Private Money Lender where your money is protected correctly. We can help you through that whole process. Through our Network, we can help you learn how to become a private money lender by “vetting” any deals available and then presenting them as an opportunity for you to write a check and gain a security instrument to protect your money then you start collecting the checks.

Becoming a Private Money Lender, you are giving the Active Investor a fighting chance to get more deals done while securing a greater return on your cash that is probably sitting somewhere that you are just not getting any really fair return.

If you are interested in finding out more on how you can become a Private Money Lender and get a greater return on your money feel free to call us at 866-611-0186 ext 201 and we would be happy to talk with you about how you can join a network on savvy individuals that are already realizing a better ROI on their investments.

Don’t miss out on the opportunity to become a help to the economy by becoming a Private Money Lender today!

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Cherry Pickers Are Everywhere

Cherry Pickers abound in the Hard Money Realm

Applied for a Hard Money Loan

Last month a borrower challenged us to match another lender that was offering 100% Purchase price and repair. Funny from the Hard Money lenders we knew, and we know a lot of them, this was a seemingly easy challenge. We blessed them and sent them on their way. Funny thing, they called back later saying for some reason the deal fell through.

After some questions about their opportunity they were working on, it was clear they had been “sucked in” to the 100% LTV marketing ploy. It’s great to bring borrowers to apply for a Hard Money Loan. Gets the phone ringing for sure. Gets a lot of applications onto the table. Then it begins.

The Hard Money Lender starts looking through the deals and finding the best ones and sending out approvals for them and apologies for the others that they can’t help them at this time. It can be REALLY frustrating when applying for a Hard Money Loan and not getting it and not ever really knowing why.

So what is the deal with this Hard Money Loan?

Ok, so you applied, you got the response that you didn’t want from the Hard Money Lender, why?

When they are good at marketing, they end up with first pick of all the borrowers out there by building their hopes and getting everyone to apply with them. Great problem to have for the Hard Money Lender, no so great when they start looking for the best deals; otherwise known as “cherry picking”.

When you have a bunch of great looking loans and even more not so great looking loans, which would you pick if it was your capital at risk? Of course it gets to that point where some Hard Money Lenders also look at the “loan to own” angle. That means they’ll take the property if the loan goes into default.

As a borrower wouldn’t you like to know that your deal is shored up properly so you don’t have to worry about losing your deal? Some Hard Money Lenders won’t tell you what’s amiss in your project when you apply. This does nothing for you the borrower as you are trying to make this deal work!

What can I do to make sure I don’t get Cherry Picked then?

First thing you need to do is vett your opportunity and be realistic about whether or not YOU would actually risk your own capital on the deal you’re working on. If you can be sure there’s enough ACTUAL Equity in the opportunity, then you have set yourself up well already. If the opportunity is questionable(not quite enough equity, not enough to put your skin in the game, not in an area that families will want to move into, etc) Then look for another deal; there are more than enough to find the right one.

Next is to vett your Hard Money Lender. Be realistic about the fact that if you’re looking for 100% LTV unless it’s a truly amazing deal, you’re probably not going to be the cherry that gets picked. Shore up your deal so that you can become the cherry. If you’re not sure how to do this, we can help.  We have a quick Loan application online that you can fill out to see where you would stand on getting a Hard Money Loan.

How do you help as a Hard Money Lender?

We can help vett your deal and then get you the funding needed to make it go!

By filling out this simple application, you can have one of our representatives talking with you about your current proposal or opportunity.

Once we’ve received your submission we go to work checking on valuations and location, etc. When we have the information we need to make a decision we come back and tell you what your opportunity actually looks like to an investor.

If it looks good to you, then we move forward to facilitating that Hard Money Loan. No cherry picking, just honest business.

If you want to stay out of the Cherry Picking race, apply by clicking the button below.

Hard Money

Apply for your Hard Money Loan today!

 

 

 

 

 

 

 

Hard money Loans are our business, we would like the opportunity to earn your business.

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Unsecured Credit Loans Tips

If you want to apply for unsecured credit loans then you must remember that they usually come in payday loans, title loans, cash advances and bank loans. To know how they work, check out the following tips.

Before making any move, be sure to secure a copy of your credit report. When your score is below 600, then you have poor credit. On the other hand, when your score exceeds 700, you can apply for a bank loan immediately. However, even if you have bad credit, you can still apply for a credit loan.

Since you seek a unsecured credit loan, don’t expect to receive a large loan amount. The amount that will be granted to you will depend on your income. You can check more about the details through a loan website or office in your local area.

Evaluate your situation and determine if you really need the loan. Unsecured credit loans are offered for emergencies therefore they are expected to be paid immediately.

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