What is a Private Money Lender?
Private money lenders for real estate are investment businesses that specialize in investment property loans. The money comes directly from lenders who have the capital and know that real estate is a good investment. Private lending allows individuals, or groups of investors, to invest in people like you who are looking for rapid funding or a loan for an investment property.
Why Work with Private Lenders?
Private money lenders simply have a different metric for whether or not to lend you money. If you’re interested in rental property financing, but a bank has decided that you don’t need another property, a private money lender will look at the investment from a different angle. They’ll simply look at the property, the work that needs to be done, and the potential return on their investment. If they feel that you’re a good investment, they’ll give you a private money loan to help you make it happen.
What Can You Fund with Private Money Loans?
Private money loans can be used to fund the investment property that has been discussed between you and the lenders. You can get rehab loans or rental property financing. You can get private money loans for just about any kind of investment property imaginable.
In the long term, if you’ve done a lot of work on investment properties in the past, you’re probably a good bet for an investment property loan. Private money lenders for real estate understand that and will look at the specifics of your residential investment proposal in order to decide whether or not to give you a loan for an investment property. It can be much easier to get a private money loan than a bank loan, simply because you’re dealing with investors who understand the real estate market.
If you are considering a property rehab project and need funding, Center Street Lending can make it happen. We lend in CA, AZ, CO, UT, TX, FL & NC, up to 80% of the property purchase price as well as 80% of your anticipated rehab costs. Give us a call today at 949.244.1090, or request a no-obligation quote online. We use a simple, streamlined process, and can fund your project in as little as 24-hours!
Center Street communications are not intended to provide business, legal, tax, investment or insurance advice. No Center Street communication should be construed as a recommendation for any business or investment strategy by Center Street or any third party. You are solely responsible for determining whether any investment, investment strategy, business strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation.