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What are hard money lenders?

Private investors whom lend their money out high rates that local banks won’t do.

Hard money loans are easier to get and funded very fast at lighting speed. It is referred to especially with real estate investors as asset based lending. The collateral on the loan becomes the real estate. They are far from conventional loans, since the underwriting guidelines that private money go by are far different from your local banks.

For those seeking emergency funding sources, or that have situations that are time sensitive and need to close quickly in days not weeks for their money, hard money is a solution period! Credit scores or bad credit is not a factor for most cases, although there are hard money lenders that do look at a borrowers credit history and are credit driven but for the most part they are not credit based [...] Continue Reading…

Having too many loans and keeping track of their due dates, terms and conditions can make you go crazy and lets not forget of all the tension of repayment. In short, to cope with too many loans is troublesome at this time one needs a Loan Consolidation that does away with one’s worries. Loan Consolidation offers a single loan for multiple loans at a much lower interest rate and eliminates tension to a larger extent. By merging all loans in one this policy lengthens the duration and thus reduces the monthly payment that in turn saves your money and it can later be used in fulfilling other needs.With the recent rise in the cost of education it is almost difficult for the students and their parents to pay school and college fees along with other expenses and that’s why there is always a need of a loan so [...] Continue Reading…

Whether you are a first-year law student or a well-established attorney, Law School Loans has a private loan program to fit your needs. Because we only deal with law students and attorneys, we have a specialized view of the financial requirements of our clients. Our private loan applications are easily completed over the phone, and you will know right away if you are approved. We are dedicated to helping you with your private education loans, private loan consolidations, bar loans, and even small business loans.Let’s face it, completing law school may be an expensive undertaking, and federal student loans usually are not sufficient to cover all of your tuition, housing, and living expenses. Our law school tuition loans are designed to help fill in the gaps so you can concentrate on your education, instead of worrying about how to pay your rent. Our law school tuition loans are credit-based, [...] Continue Reading…

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One of my newsletter members recently asked if using a list broker was a good source of marketing leads to attract private lenders and, if so, how is it done. The answer is yes but with several precautions.

Precautions

It is important to understand that I strongly recommend that marketing for private lenders is done on a local and low key way. I do not recommend any sort of website advertising or newspaper advertising because it can be viewed as a solicitation to an unsophisticated investor and attract calls from your state’s SEC. You do not want one of these calls!

The SEC and state authorities monitor Craig’s List and other similar bulletin boards for people doing unauthorized advertising for private lenders. When you advertise in this fashion, you can not restrict out of state people from reading your ad and as result certain authorities may deem this a [...] Continue Reading…

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First – Determine how much money you need to acquire a certain property and be sure to include the purchase price, closing cost and complete renovation costs. If you do not know the renovation cost be sure to make your best estimate so you do not leave these out.

Second – Start to market for private lenders. Make a point to tell everyone you know and meet “that you investing in discounted real estate investments and are looking for investors.” Show your potential private lenders how to start investing passively in investment real estate. You can also use other marketing strategies such as sending out post cards to wealthy people or putting up flyers in 55+ communities.

Third – You will need to create a presentation kit to educate your potential private lenders to the power and security of investing in discounted real estate. Essentially, position them as [...] Continue Reading…

If you are considering a private loan, rest assured that you are not alone. Thousands of people across the country apply for private loans every day, and every single one of those people have excellent reasons for seeking financial help.There are many different reasons why private loans are preferred over any other kind of loan. The number one reason people apply for a private loan is that traditional lenders simply will not give regular borrowers a chance.When traditional lenders deny a loan application, many consumers simply turn to private lenders. Unlike traditional lenders, many private lenders of secured loans are willing to approve almost any loan application. Also, if the loan is secured, a private lender will not rely upon a borrower’s credit history when it comes to loan approval.Another reason why people seek private loans is that most people have big expenses that must be paid right away. [...] Continue Reading…

There are some very significant difference between federal loans and private loans, and students who think they are the same simply because they are both loans and both types have to be paid back the same way are making a potentially grave mistake. While it is true that private loans can be very beneficial, it is vitally important to understand the difference between the two types of loans before making a decision concerning what type of loan to choose. Consider this: if given the choice to pay someone twenty dollars or fifty dollars, which is better? The repayment rate for some private loans can be substantially higher than the payback rate for federal loans. That is why it is crucial for students to complete the FAFSA form, which can be filled out right online. By doing so, students can find out whether or not they are eligible to receive [...] Continue Reading…

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So you’re Joe College and you have elected not to pursue federal student financial aid, for any of a number of reasons. That’s fine, but what are your other options? You could try to apply for private student loans, for one thing.

As with most other things, when I am hunting down information, my starting point is always the Internet. Do a search online, using any of the major search engines, using the words ‘private student loans’ and you will turn up at least 50,000 related websites. Keep in mind, however, that not all of these will be pertinent. Typically the first fifty or so websites will be helpful, and fifty different sources of information is pretty good in anyone’s book!

Now you have searched and turned up a sufficient number of sources – good for you, a lot of the work has been taken care of…but you [...] Continue Reading…

One of Uncle Sam’s greatest gifts to the American student is the Federal student loan program which makes it possible for millions of young Americans to pursue higher education. But Federal student loans may not always cover tuition and expenses 100%. That’s why so many parents and students turn to private student loans to fill in the gap.Private student loans — not just for tuition!All the talk these days is about the higher costs of college tuition. But what often gets overlooked are all of the other college expenses that can make going to college more financially crushing.However, that may not be a problem for you since most private loans can cover virtually all college expenses, including: o Room and board o Off-campus housing o Registration fees o Text books o Laptop/Internet access o Travel expenses to get to and from classesHow can you qualify for a private loan?Because [...] Continue Reading…

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First of all lets analyze what is credit card? It is nothing but a financial instrument on which we can borrow money or buy products and services on credit. It is the card issued by the bank and other private companies that allows consumers to purchase goods or services from a merchant on credit. This card can be used more then once as many times as you may need. Banks, retail stores and other businesses generally issue these credit cards. You should understand that a credit is different from debit.

The main definition of business card is that it is usually issued to corporate executives or business owners in order to help them maintain their business expenses separately and personal expenses separately. This is source of capital for both small and corporate business. Now a days business credit card provides capital to new business ventures. New cards [...] Continue Reading…