OfflinePrivate Financing is one of my favorite ways to find properties. They are easy to work with and you can work with them to create your terms. Many private lenders can even partner with you. They bring all the money and you do the deal.
When working with Private Lenders here are some legal Considerations:
-DO NOT MARKET TO THE PUBLIC
-DO NOT GROUP / MIX FUNDS
-DO NOT SAY OR WRITE “GUARANTEE”
-BUY PROPERTIES THAT ARE SECURE
Not following these can cause big legal problems.
What do you like to do to obtain private financing? Please post your answers as long as it follows the considerations above. If you have not obtained private financing before what do you think you can do to find them?
This is an open question for general responses to allow ideas to flow.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
you can also call the number in all those ads you see that say "we buy houses" some of them will also do HL's. Most of them have a list of investors that they get their money from. So I am sure they would lend a HL loan too.
D
Don't Wish the Past, Create the Future! - DH
Go to www.hardmoneybankers.com just trying to be knowledgeable and help you like you have helped me. We work as a team and we will all go places. Cindy.
cindy REI
I am sorry I have confused some.
Here is the deal:
Against what others on this post have said if you are lent money you can be called a security. Those that say receiving money for investments cannot be called a security have not done the proper research.
Common securities that most will know are stocks and bonds. So, if you are getting money from multiple people and investing in real estate you do not want to be placed in the same category as stocks and bonds. To create a security such as a stock or bond you need a license. If we as investors receive money and then are considered by the SEC and NASD (the governing groups over securities) that what we have received and are offering to lenders securities not just doing private loans we are creating securities without licenses - this is illegal.
The information that I posted at the beginning allow us as investors to keep out of what the SEC and NASD terms a security. I have posted the information again for convenience below.
-NOT MARKET TO THE PUBLIC
-DO NOT GROUP / MIX FUNDS
-DO NOT SAY OR WRITE “GUARANTEE”
-BUY PROPERTIES THAT ARE SECURE
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
They key to making private financing work is that you market to "CD owners". With interest rates as low as they are, there are small savers (< 20K) who have no real good options.
This is where private financing comes in. You can pay around market mortgage rates which is good for you and for them.
This greatly expands your potential market ie you do not have to look for 1 person who can finance an entire deal.
HAVE YOU TRIED TO APPLY FOR A LOAN THROUGH THE WEB ADDRESS IN YOUR POST?, YOUR HERO,SULLY.
YOUR HERO, SULLY
Sully try this one I did and I found a very god lender from it.
http://www.reiclub.com/hard-money-lenders.php
I also posted a list of them under another topic about H/L in Financing and Credit.
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
thanks ant, SULLY.
YOUR HERO, SULLY