CCM-Finance

When investing in real estate, few people naturally think of using the private lender. It is not in the habits of Californians. However, the private loan has certain advantages, such as flexibility and speed. Here are some techniques for using a private lender without being tricked.  WHY THE PRIVATE LENDER WANTS TO LEND YOU MONEY  Contact one of the best Private money lenders for residential real estate if: you have financial problems or are unable to buy a personal home; you can also use it if you want to renovate your house which has a lot of equity. This is also the case for the purchase of a flip, an empty plex or a very damaged building. Likewise, if you want to buy to refinance later or for new construction.  HOW DOES THE PRIVATE LOAN WORK?  A loan from a private lender is a blank sheet. The main thing is to discuss the conditions from the start: when to repay the interest, what terms if you cannot repay on time or if you can repay earlier?...

If you are new to this term, a hard money lender, also known as a private lender, is an individual or non-institutional (non-bank) company that provides loans to real estate investors (borrowers) for the purchase or construction of properties.  The term "hard money" is used because the lender places more emphasis on "hard" assets (real estate) when evaluating a transaction against the borrower's ability to pay, as indicated by his income or credit score. The hard money loans for real estate are generally guaranteed by a note and an act of confidence.  What is a hard money loan?  The loans available from a hard money lender are called hard money loans, private money loans, rehabilitation loans or bridging loans. The borrower's goal is usually to buy, repair and return or, in the case of new construction, build and sell the property. In both cases, time is critical.  The borrowers wish to complete the project as quickly as possible to be...