OfflineAs I have read a lot of posts that seem to group hard money and private money lenders together.
They are not the same.
Private money has their money in CD's, Stocks, Bonds, IRA's, Mutual Funds, Savings Accounts, ETC.
Hard money has thier money in real estate. They know what they want and ask for it.
Because Hard Money and Private Money are not the same they should be delt with differently. Private Money lenders are usually the easiest to use with the easiest terms.
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nstreet,
Is it feasible to use private $ for a buy and hold vs a rehab or something? If so what's the best way to go about that?
Jeff
Is it feasible to use private $ for a buy and hold vs a rehab or something? If so what's the best way to go about that?
Jeff
Yes. MORE than feasible. Just get the investors on the mortgage, buy the property and start making payments to them. It's gotta be better for them than CD rates.
Because Private Money has their money in investments such as CD's that are making 5% or so and have their money tide up for months to years paying them 5,6,7,8% for a long term real estate deal is not an unreal investment for them. In truth one thing I found marketing to Private Money was that if I offered them too much money or interest I often scared them off because they taught what I was offering was too good to be true.
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
If you can get on your hands on any money, hard $ or private $, you got it made. The bottom line is this, you have to develop a relationship of trust with them, and find that one deal that would bring them profit from their investments. Once you have done that, you got yourself a keeper. I'm just lucky enough to have people i can borrow money from them and split the profit. I'm not greedy by any means because the more deals you bring to the them, the more they are willing to invest. Find one good deal and i promise you, once you show them money, they will go out of there way to get you what you need. Good luck and go big!
Lloydsap