Oxnard Private Money Lenders

California is a place that a lot of people dream of living. It is already the largest U.S. state by population, and plenty of others are drawn to the place for its beauty and culture. That is why investments in real estate in California seem like a very prudent thing to do at the moment. There is a lot of potential value tied up in homes in most parts of California as we speak. One of those places is definitely Oxnard, California. 

Why Borrowing From A Conventional Lender Might Not Work

You walk into a bank and talk to a loan officer about taking out a loan for a piece of real estate in Oxnard, California. That individual takes your application and sends it through the bureaucracy of the bank while you wait an agonizing thirty to sixty days to hear back on the question of approval. That time passes as other great real estate deals pass you by as well. 

This is the scenario that a person could easily find themselves in if they choose to go with a traditional lender. The banks and other real estate lending establishments consider your application just another number on their ledger. They are extremely strict on their guidelines for lending, and your particular interest in a property does not matter to them in the slightest. It is an infuriating experience that can cause people to just throw their hands up in the air and swear off real estate investing altogether. Luckily, there is another way. 

Private Money Lenders Can Help

Instead of dealing with the bank, why not consider using a private money lender to help you out instead. This individual will have to be someone wealthy enough to have the financial means to fund your loan application, but those people do exist. They also tend to be more flexible with their standards for lending. 

The trick is to convince an individual who has enough funds to lend you the money you require to get your real estate dream off the ground. These individuals exist in all parts of the country. You just have to find the right kinds of properties to invest in. Some properties that have proven successful in the past include: 

  • Foreclosures
  • Trailer Homes
  • Fixer-Uppers
  • Homes In An Underdeveloped Part Of Town

These all might sound like places a person would not want to live. However, that is how the buyer gets them for cheap. He or she then fixes them up to a better standard and re-sells them for a profit. 

Avoiding Regulations

Regulations are what kill so many real estate deals before they even get started. The banks are constantly under scrutiny of the government to only lend in what the government considers to be a responsible manner. Of course, Uncle Sam is not sitting their presiding over every single real estate deal that occurs, so how would the government know what makes financial sense for every single person situation? The answer of course is that they do not. 

Private money lending cuts the middleman regulations that the government so often puts into place out of the mix. It is not the government’s business how you conduct the deals that you structure with another private party. If you believe that to be the case as well, then private money lending is probably for you. 

There will still be some paperwork and contracts to sign, but skipping past so many of the other burdensome regulations will surely be a relief to anyone and everyone who wants to close on their real estate deal as soon as possible.