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As the stock market tumbles and a mostmortgage lenders go out of business howdoes the average guy manage to continueto invest in real estate. We certain will notbe able to get traditional mortgages banksor lenders. So what do real estate investor do now! Private real estate money is the answer!
With stock market down 6,000 points and a most mortgage lenders out ofbusiness how do ordinary people invest in real estate You will not be able toget traditional mortgages from banks or lenders as they now require 800+credit scores, personal guarantees and down payment collateral equal to orgreater than 40% of the purchase price hard money lenders are so scaredthey will not lend to their own mothers - that is, the few that are still in business
So what do real estate investor do now! Private real estate money is theanswer So what is private real estate money and how do i get it to purchasereal estate investments Private real estate money is simply borrowing moneydirectly from private individuals rather than a bank or other commercial lender
Private lenders tend to be ordinary people such as doctors, lawyers,accountants, business owners and possible retired people Most privatelenders are simply looking for better investment returns than they can typicallyget from bank CDs, money markets or even bond investments Over the pastcouple years these type investments have yielded a paltry 3% to 6% pretaxrates
Real estate investor can pay private lenders in the 9% to 15% range for theirmoney to invest in real estate So it is easy to see why they will be interestedin investing in your real estate investments to get that kind of return on theirmoney Private real estate money lenders will want to know several thingsabout a property before they will invest
The questions most private real estate money lenders are going to want toknow about your investment include: 1 What is the purchase price? 2 Howmuch is the property worth once fixed up and rehabilitated? 3
How much will it cost to fix the property up? 4 How much do you want toborrow? 5 What is your exit strategy i
e do plan to flip to a first time buyer or hold to rent? 6 When will you pay offthe private investor You may want to have a short little presentation book orbusiness plan laid out in a professional looking format to present to a privatelender that addresses these issues
The booklet or packet will allow you to show the investor what your plans andwill show you have well thought out plan In this new era of real estateinvesting you need to look to new and different ways to financing your realestate interments and private real estate money will be key to your investingfuture