Private Money Bank
Right now there is more wealth-building opportunity than there has been in the last 75 years and the only way forward is through real estate
. But getting involved takes serious Private Money Power!Although conventional funding is scarce, there is a plethora of funding available in the private sector. Knowing how to find the right property, the best source of funding, and then how to turn the property over for profit is the real clincher!
In this Private Money Bank.com Special Report, well show you 6 reasons why private money can catapult you to success and how the foreign language of private money will keep you safe in all your financial transactions.
What is Private Money?
Private Money has shorter terms and a clearly defined repayment schedule. Terms for these types of loans will vary from lender to lender and will de-pend upon the experience level of an investor, as well as the length of an investor's relationship with a particular lender. Therefore, there are really no hard and fast rules to Private Money. You may be quoted a certain rate or acceptable loan-to-risk ratio one week and find that the terms have changed drastically the next.
Generally, a private money lender will provide a loan for 50-65% of the as-is value of a home at an interest rate of 12-18% for a period of 6 months to one years. They will also charge between 5-10 points as an upfront financing fee. As you can see, the spread is generous and the terms are dynamic and change on the various aspects of the loan, such as:
The investor's background
The investor and lender's previous relationship, and/or
Property details
by: Isaac Atterbury