Cash is king in the real estate business however short term investor financing can be a great way to leverage your investments. It can also be a smart way for a buyer to acquire a property who may not have enough cash to close the deal on their own. We have built relationships with numerous private money lenders who specialize in short term investor financing. Private money lenders are typically more expensive than conventional lenders, however they generally base their loan decision on the actual property being purchased and not on the borrower. Because the majority of our wholesale properties require a quick closing, these specialized lenders are ideal for wholesale transactions. In addition, many private lenders do not require a survey, appraisal, inspection, etc.
We are currently assisting buyers in obtaining private money loans for houses and condos with a 20% to 50% down payment. Points paid to the lender can range from 2 to 6 and interest rates ranges from 12% to 16%. Private money loans are generally interest-only and for terms ranging from 12 to 72 months. Normally, there are no pre-payment penalties.
If you are interested in one of our properties and need short term financing, our lenders may ask for the following information:
Please call us today to discuss your options.