Things to consider when comparing lenders After you’ve looked at…
Suffolk County Private Money Lenders
Thinking about purchasing properties, fixing them up and then reselling them for a profit? Do you need funding to take advantage of great deals fast? Not sure where to borrow the money to get started? Delancey Street Private Money Lenders can help.
Delancey Street Money Lenders have highly reliable sources of funding for real estate investment properties. We have been providing excellent services to real estate investors and we know the industry very well. We can guide you and provide you with the resources and expertise you need to become successful in your business venture.
Our conglomerate pool of investors has decades of experience doing Hayward private money lending. Our service is designed with real estate investors in mind and can be beneficial to you in your venture.
When you find a great real estate property that can be fixed or renovated, then you need cash to make an offer. Relying on a bank or other traditional funding source is usually not a smart choice. A better option is to obtain funding from a private entity. Private money lenders are available and obtaining a loan from these types of lenders offers many advantages over bank loans. Here are a few of the advantages of working with a private money lender.
Loans from a bank or other traditional lender can take several weeks to process. Many real estate deals require you to act fast. When a lucrative deal pops up, it is imperative that you get funding as soon as possible.
Hayward Private Money Lenders specialize in real estate lending and can get you the money you need to close a deal. They understand the business of purchasing properties, fixing and renovating them and then reselling them for a huge profit. And they can get you the fund you need quickly.
Less Paperwork Involved
If you have ever applied for a bank loan, then you are aware that there is huge amount of paperwork involved. The application process is tedious, time-consuming and boring. When you need funding for a great deal, you need to get it fast. Hayward Private Money Lenders know this and take steps to make the process hassle-free for real estate investors. They make it a top priority to get you your funds quickly.
Credit Is Not A Hindrance
Traditional loans come from banks, and they are often hesitant to grant a loan to those who have credit problems because of the risk it involves. If you have less-than-perfect credit, they don’t want to deal with you.
Private money lenders are a different breed. These lenders have no ties to banks or other traditional lending institutions. They don’t focus on your credit history or your credit score. They simply want to know that you have a viable idea and do not require any specific credit score.
Flexible Loan Terms
Banks are cumbersome financial institutions and it can be a hassle trying to get a loan from them. They have rigid lending guidelines and are not a suitable option for real estate investors. Not so with a private entity that makes loans to investors. Private lenders are easier to work with than a traditional lender like bank and offer loans that are tailored to specific needs.
You Are In Control
Private money puts you in control of which investment properties you want to acquire and the rate of return you want to pay.
You can pounce on a deal immediately, rather than wasting valuable time dealing with a bank and waiting for a response. With loan from a private lender, you get speed, greater control and improved cash flow.
Get Started Fast
Get in touch with Private Money Lenders right now to learn more about our services. We have many satisfied real estate professionals who keep on using our services to run a successful investing business. We can give you access to the money you need to close deals and become successful.
Private money lenders offer real estate investors the opportunity to secure financing where retail banking institutions fall short. Often, real estate investors discover tremendous money making opportunities that are impossible to finance through a retail bank. Retail banks are saddled with government regulations and notoriously rigid when it comes to approval. Great opportunities abound when real estate investors think outside the box; to get those deals funded, they need a lender who thinks outside the retail loan officer box.
Where to obtain private money loans
When real estate investors find that perfect rehab opportunity, unconventional property, or apartment complex that retail banks balk at financing, they need to know where to turn. The most reliable, secure, and fastest option is a private money company. Private money companies specialize in bringing real estate investors and private money lenders together. Because private money lenders are free to set their own loan criteria, real estate investors with profitable opportunities have little trouble finding financing on the private money market.
What do private money firms provide?
Other than access to people ready to loan money on hot real estate deals, they provide expertise. They bring private lenders and borrowers together in an environment where the participants are vetted. They also have the knowledge needed to understand complex and highly profitable real estate transactions in a way retail bankers cannot. In addition to lenders, private money firms can also provide appraisers, inspectors, and any other services needed to make private money deals successful.
Private money lenders provide the versatility not available in the constrained world of retail banking. When you apply for a private money loan, you apply directly to the decision maker. The person making the lending decision has no loan committee or stockholders holding him or her back. There is no, “Sorry, your loan request doesn’t fit my guidelines.” Private money lenders are lending their own money, and they create their own guidelines, which are usually based on whether the deal is profitable.
As such, where it makes sense, they offer versatility in loan terms and conditions. In exchange for a slightly higher return on their investment, private money lenders are willing to provide the flexibility needed to swing that hot deal. This means your deal, no matter how unusual, gets done if it makes financial sense.
Private money loans are secure
When you take out a loan through a private money lending company, you have all the same security as with any retail banking loan. Escrow requirements are met through the lending company, keeping each participant’s stake in the transaction safe. Appraisals and inspections ensure proper property valuations. All loans are completed using the necessary legal documentation to make contractual obligations enforceable. The loan-to-value ratios on these types of loans are kept relatively low, providing a margin of safety not usually seen in retail mortgage loans.
Private money loans are built for affordability
You need an affordable loan structure to make a real estate deal profitable. By providing loans that offer affordable fees and payment terms, private money lenders provide financing that allows for big profits.
Real estate investors can ill afford a 30 or 60 day wait to get approval from a retail bank. By that time, another investor will have snapped up that great deal. Investors without private money access get left in the dust.
Private money loans are approved in as little as 24 hours. They are approved fast because they are based on the underlying value of the asset.
If the asset has the value needed to support the loan request, it gets approved right away.
In today’s rising real estate market, there is tremendous money to be made. By working with a private lender, investors are able to secure the most profitable deals with little wait. With a private lending company behind them, they have access to the best real estate opportunities in California.