How do you obtain a loan to purchase investment property if you do not have strong credit history? Private money loan is the answer.
For most entrepreneurs or investors, their first inclination when looking for financing for an investment property is to go to a bank or other traditional lender. In some situations, this might be a good choice, but in many cases when fast-moving real estate deals are involved traditional lenders aren’t the right option.
With traditional lenders, such as banks and finance companies, the protocols and processes that they follow during loan processing can take several weeks or even months and when time is of the essence, this could be a hindrance.
You do not need to give up on the idea of purchasing a real estate property after being turned down by banks or other traditional lenders. If you are interested in succeeding as a real estate investor you need to explore other funding options. If you are a persistent entrepreneur or investor, you will find individuals or companies that have private money to invest.
Private Money Lenders
Private money loan is a great option for financing real estate properties and can help you take advantage of deals fast.
With private money lenders, there are less regulations and hassles to go through in terms of the application process. These types of lenders are able to take a closer look at your project: the cost of the property, how you plan to go about fixing or renovating it and costs involved, market analysis and the anticipated resale value.
They will then decide whether or not they want to invest in the project. Private money lenders are able to provide financing much more quickly than a bank or finance company.
Private money lenders are a great option for real estate investors and can provide a solution for your funding needs. If you have found a good deal and need money fast to take full advantage before the competition does, then Ventura County Private Money Lenders.
Benefits of Private Money Lenders
Responsiveness – Working with private money lenders offers several benefits to real estate investors. Unlike a loan from bank or finance company, a private money loan can typically be processed much more quickly – usually within a few days rather than weeks. If you’ve found a great deal you don’t want to make sure you choose a lender that is responsive and will get things done quickly.
Flexible Payments – Working with private money lenders gives you more freedom to set up a customized loan repayment plan. Traditional lenders won’t give you this freedom. With a financial institution like a bank, borrowers will have to accept the loan terms and repayment plans set by the lender. However, with a private money lender, you can discuss and reach a mutually agreeable loan term and repayment schedule that is suitable for your situation.
Less Requirements – When seeking financing from a bank or other traditional lender like a finance company, you will be expected to complete a lot of paperwork or meet certain requirements, like credit score or financial history. It is likely that a private money lender will not make you to go through so many difficult or time consuming processes.
Let Us Help You Get Fast Funding
If you have found a good deal and are in need of hassle-free funding, then it’s imperative that you contact Ventura County Private Money Lenders. We understand the real estate investment business and we have a streamlined funding process, making it fast for you to close a deal. We have many repeat customers due to our outstanding service.
We have a great reputation and our company comes highly recommended in the industry. We are here to help you get the funds that you need to take advantage of lucrative deals and grow your business. Contact us right away to get started.