Private Money Lending 101

Learn about the basics of hard money loans and private money lending. Find hard money lenders who can fund loans that others cannot. Learn more about private money loans at: www.privatemoneylendingguide.com/borrowers/private-money-lenders-for-real-estate

Must I be licensed in Texas as a Mortgage Broker (Commercial) if I charge a fee for arranging financing?

Instead of charging a broker fee could I call it a “Finders Fee” or a “Consulting Fee”? I work for a Mortgage Banker but am contemplating starting my own shop as I have developed some relationships over the years. I am not licensed at present.

Why Private Lenders Say “No” and What To Do About It

www.privatemoneyblueprint.com Ok, so you’re sitting down wa private money lending prospect. You find out they’re currently getting a 3% return on their investments. You offer 6%. And they say “No.” You’re about to not only discover why they said “No”… but also exactly what to do about it… Check out the video now! Enjoy Patrick Riddle

Is there a job market for commercial mortgage/loan brokers?

Are there positions out there with opportunity to earn $$$ on a commission basis? VERY interested party here.

Council OKs $4M loan for health-center plan

Faulty Foreclosures May Prolong the Slump
Probes of whether lenders followed the rules could halt seizures, and that could keep the real estate market from finding its bottom

Read more on BusinessWeek

Space Limited For Annual Trigild Lender Conference
SAN DIEGO–(BUSINESS WIRE)–More than 60 legal and lending industry pros will examine sound strategies and smart solutions for maximizing commercial loan recovery at the 2010 Trigild Lender Conference Oct. 20-22 in San Diego.

Read more on Business Wire

Council OKs $4M loan for health-center plan
LOWELL — A $4 million loan unanimously approved by the City Council last night will help pave the way for the Lowell Community Health Center’s new $38 million, 100,000-square-foot facility in the downtown mill formerly occupied by the Hamilton Manufacturing Co.

Read more on Lowell Sun

Why Private Money Lenders are like Superheroes

When we were children, many of us admired and idolized superheroes. Because these heroes possess extraordinary powers and can do almost everything, it is easy for a child to admire and venerate such people. Unfortunately, superheroes exist only in books, comics, and movies and humans possessing amazing powers are next to impossible.

While it is true that there is no such thing as a superhero, it doesn’t necessarily mean that there are no heroes in this world. There are men and women out there who help others and make life on Earth much easier without having the need to possess super powers. Take private money lenders as an example.

Although you cannot exactly put these non-traditional lenders on the same level as patriots, war heroes, world-renowned environmentalists, and Nobel Peace Prize winners, they make real estate investing much easier for investors who don’t have enough investment capital. Unlike banks, mortgage companies, credit unions, and other institutionalized lenders, private money lenders let investors borrow their money even if the latter has poor credit rating.

The reason why most lenders of private money are not concerned with a borrower’s credit rating is that private money loans are usually asset-based. To verify a loan’s eligibility, the lender assesses the value of the property offered as collateral. Instead of having the borrower undergo a credit check, he or she conducts an appraisal on the collateralized property. If the lender feels that collateralized real estate can fetch a good price once it has been repaired and renovated, then the borrower will get the loan.

Borrowing funds from private money lenders is much easier than when qualifying for a bank loan. You don’t have to endure the agony of waiting at long lines just to talk to the person in charge. Lenders of private money are more approachable than their traditional counterparts. And most of all, talking to them is much easier as compared to dealing with banks, mortgage companies, and even hard money lenders.

Like superheroes, lenders of private money can protect something that is important to you – your credit rating. If you have a high credit score and you want to remain it that way, obtaining the assistance of private money lenders is your best bet. Because they are private individuals rather than institutionalized lending companies, all the transactions made with them won’t be reported to the credit bureau.

If you want to learn more about private money lending, visit www.RehabHardMoney.com.

 

How can a become a hard money lender in Florida?

I was wondering if I need a license to become a hard money lender in the state of Florida? I want to specialize in Owner Occupied Residential. What other requirements/regulations are there to lend hard money? I can’t find any more information online, everything is just ads or listings of Hard Money Lenders in the State of Florida.

Hard money loan for Hitler- Financial crisis

www.lendinguniverse.com the most accurate source for hard money loans and private investors . Save money on your payments and lower your interest rate and or get cash out. Lending Universe is setting new standards in the world of commercial and residential loans, mortgage brokers and the…

Is there a website that posts commercial loan rates?

I just want to know the rates!!!!!!!!!!!!!!!!!

Private Money Lenders: The Upside

Real estate investing is one of the most lucrative businesses in the industry. And if you are a real estate investor, there will be a chance that you will need to borrow money; specifically, on private money lenders. There are numerous advantages when borrowing from private money lenders. These lenders of private money can also be termed interchangeably with hard money lenders. The difference is that private money lenders do not openly advertise their services.

If you are still quite skeptical to the idea of approaching a private money lender, don’t be. There are numerous advantages when borrowing from a private lender rather than borrowing from conventional ones. As this article progresses, you will the different upsides of borrowing from private money lenders.

Compared to hard money lenders, lenders of private money are not legally registered to any establishment. And as mentioned above, these individuals do not openly offer their services. The first advantage of lenders of private money is that they process transactions fast. The fastest possible time to lend you money is in a span of 24 hours. Also, unlike traditional lenders, they do not dwell on your entire financial history. Banks almost always take forever when evaluating a borrower’s credit history for up until two months.

Another good thing about private money lenders is that they could lend you twice the amount than what banks can offer. Traditional lending establishments can only lend you a fixed amount, depending on your current monthly salary. If you have an unimpressive credit score, chances are, your loan application may not be approved. Or if it is approved, the loan amount will most likely be insufficient in your real estate investing business.

However, there are minimal downsides when it comes to private money. Usually, they have very high interest rates. Also, the payment period are shorter compared to banks. Conventional lenders have payment terms for up to twenty years. Private money lenders, on the other hand, depend on the lender himself. You need work out payment dates with them.

As a responsible real estate investor, you need to promptly make the payment to any lender. Paying back the money on time will not only earn you a good reputation, but also keep strong alliances with these lenders. A thriving entrepreneur has a good and efficient team by his side can help maintain the  success he/she has today.

Want to read more about private money lenders? Head to RehabHardMoney.com now.

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