Bakersfield Private Money Lenders

Bakersfield Private Money Loans

Delancey Street is a premier, and top rated, Bakersfield private money lender. We help you get funding for your next real estate transaction. Regardless of the size of the transaction, we can provide loans for residential and commercial transactions.

Reasons Why A Traditional Loan Might Not Work Out

There are plenty of reasons why a traditional loan might not be approved for your next Bakersfield investment property. Some of these reasons are as follows:
Your Finances Are Out Of Order – Mayne you don’t have the strongest balance sheet. Traditional lenders will look through your personal financial information if you come to them for a loan. This might be a reason why they deny your loan.
They Don’t Like The Property You Are Investing In – Some credit unions and banks will refuse to fund your property because of the type of property it is. Most traditional lenders will not fund real estate investment properties after the crash of 2008.
You Don’t Meet Their Qualifications – Banks have a lot of regulations when it comes to who they lend to and for what purposes. These regulations are often so complex and difficult to understand. Most banks will never lend to someone who is over-leveraged, and owes money on properties.

Bakersfield Private Money Leaders Can Help

Everyone wins when you borrow from a private lender. You get the cash you need to purchase the property that you have always wanted. At the same time, the private lender gets the interest on the loan that they desire.
Private money lenders care about one thing: getting their loan repaid. Most private money lenders will evaluate your project to see how/why it’ll succeed. They will ask you for a business plan, and ask you what you intend on doing. For example, if you are looking for a private money loan to do a “fix and flip,” be prepared to answers questions like: how many fix and flips have you done, how much money do you need, what are you going to use the money for, when do you plan on selling the property, how long will it take to sell the property and how much will it sell for.
How to guarantee you’ll get the private money loan you need
Guarantee is a taboo word, since there are no guarantees in business, but here are some ways to make sure you’ll get funding. It’s a good idea to get your ducks in a row before you approach a private money lender. Most lenders get numerous requests for funding each day, so it’s important you don’t waste anyones time.
1. Know what property you’re going to buy, before you approach a Bakersfield private money lender. Know the property, it’s purchase price, and what you’re going to do with it.
2. Have your financial in order, and have a budget created. Know how much money you plan on investing, how much money you’ll need to pay for fees/costs after you take ownership of the property. It’s important you know what you will do after you take ownership of the property. It’s important that know when you’ll sell it, how much you’ll sell it for, etc. If you don’t plan on selling the property, you should know how you’ll get funding to repay the private money loan you took.
What’s next
If you’re sure you need a private money loan, fill out our application. Contact us for a risk free evaluation of your project. We use artificial intelligence to help evaluate potential deals. Once we get your application we’ll discuss your project, get more information, and then offer terms for your next real estate transaction.

Delancey Street is here for you

Our team is available always to help you. Regardless of whether you need advice, or just want to run a scenario by us. We take pride in the fact our team loves working with our clients - and truly cares about their financial and mental wellbeing.

"Super fast, and super courteous, Delancey Street is amazing"
Leo
$125,000 Small Business Loan
"Thanks for funding me in literally 24 hours"
Jason
$35,000 Lawsuit Advance
"Great choice for first time fix and flippers"
Mary
$250,000 Hard money Loan

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Delancey Street understands funding like no one else!
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