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I recently wrote an article about the the best ways to raise private money for real estate Investors where I laid out the top 4 ways to raise private money to grow and develop your real estate investing business. One of the top 4 ways we use and teach to our students is to use group presentations.

A private lending group presentation involves getting 5 to 20 people into a room and doing a presentation where you lay out the details and benefits of your private lending program. This may not be for everyone depending on your comfort level of talking in front of groups, but the advantages of group meetings are very powerful. When people start to ask questions and tell positive stories, a certain level of group think starts to take effect and can be very powerful on the attendees.

We teach our students to focus on the preplanning and marketing, presentation materials and post-meeting follow up as the key to conducting a successful meeting and getting people to invest in your business.

Preplanning and Marketing – We put preplanning and marketing together because they must be done together. Make sure you have a room reserved that can fit 20 or more people comfortably. It can be a hotel conference room but they tend to be expensive. Other options might include a local library, church or civic groups that allow people to use their meeting rooms. Once you have the meeting room arrangements finalized you can then create your marketing piece with the exact address and time of the meeting.

Now you need to get people to come your meeting. And not just anyone – you need potential investors with extra cash to invest. A couple ways to promote your meeting might include posting flyers in 55%2B communities with retires who might have extra cash to invest. You can also rent a list of local people with high incomes and bank CDs and mail them a letter or post card inviting them to the meeting. You can also place small ads in your local newspaper promoting an “information only” meeting about private lending and real estate investing. Better yet do all of these to help fill the room.

Presentation Materials – In order for the meeting to be successful you need to have a well prepared PowerPoint or presentation handout. It needs to be well organized and show your professionalism. This is no time to “wing it”. Your presentation needs to come off well done and organized where you lay your business plan and why it makes sense for them to consider investing with you. Again this should be “information only” and do not make specific offers to invest or discuss actual projects to invest in at this meeting. Actual offers are done in the follow up to the meeting.

Post Meeting Follow Up – As part of the meeting be sure to gather every ones contact information so you can contact them after the meeting. I recommend a letter 2 or 3 days later thanking them and asking them to contact you if they have further questions. Keep in mind that most will not invest, but if 1 or 2 do become investors from each meeting it is a highly successful meeting.

I invite you to learn more about Private Lending and get my new FREE 20-page ebook titled “Discover the Secrets of How to Fund Your Real Estate Deals with Private Lenders!” by clicking here http://realestatewealthtoday.com/FREE-eBook.html

Mike Lautensack is a full-time real estate entrepreneur in Philadelphia, PA and creator of the Private Lending Presentation Kit. This powerful done-for-you kit is loaded with tools and techniques to attract and develop a consistent stream of private investors into your real estate business. To learn more about this kit and receive your FREE Real Estate Wealth Newsletter go to Private Lending Presentation Kit.

What is a Consumer Loan?

A private/personal/consumer loan is a loan taken by an individual to cover his personal debts in regards to consumer items or some other personal items. As said above, a private loan can be borrowed from the bank or an individual lender, which could even mean a financing house. Consumer loans are different from commercial loans, which are used for business purposes or a mortgage loan which is used for home purchases. Also, private loans can be calculated on a daily basis, as opposed to the annual calculation in commercial loans. Thus, private loans can be paid back anywhere between six months to ten years. There are two kinds of consumer/private loans:

Secured Loans:

Secured loans mean that the loan is given against the security of your personal assets. That means, in case you fail to pay your loan amount, the amount will be settled against the security asset. These kinds of loans have a lower rate of interest than unsecured loans.

Unsecured Loan:

Unsecured loans mean loans that are not secured against any asset or collateral. So that means, in case you fail to repay the loan amount, then your assets will not be touched. Such loans have high interest rates, though, to counter the fact that there is no security. Unsecured loans depend upon your credit history and employment records and status.

o What do I need a Private Loan for?
o To buy a car or a boat
o To renovate your home
o Loan for a manufactured home
o Home equity loan
o Signature loan
o Signature line of credit
o Recreational vehicle loan
o Home equity line of credit
o Share or certificate deposit
o Stocks and mutual funds
o Repayment of credit card debts
o Bank overdraft
o School tuitions and college fees

Rate of Interest

Rates keep changing all the time with the market conditions, so it would be advisable to do a little research maybe on the internet or you can directly contact the bank or financial institute. Also, rates depend upon the amount borrowed and whether the rates are variable; this affects your monthly instalments, too, as the rate keeps changing. Fixed rates are higher as they have the advantage of not fluctuating with the market rates and you don’t end up paying a very high amount.

Author: Ricardo Salazar
Article Source: EzineArticles.com
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What is a Consumer Loan?

A private/personal/consumer loan is a loan taken by an individual to cover his personal debts in regards to consumer items or some other personal items. As said above, a private loan can be borrowed from the bank or an individual lender, which could even mean a financing house. Consumer loans are different from commercial loans, which are used for business purposes or a mortgage loan which is used for home purchases. Also, private loans can be calculated on a daily basis, as opposed to the annual calculation in commercial loans. Thus, private loans can be paid back anywhere between six months to ten years. There are two kinds of consumer/private loans:

Secured Loans:

Secured loans mean that the loan is given against the security of your personal assets. That means, in case you fail to pay your loan amount, the amount will be settled against the security asset. These kinds of loans have a lower rate of interest than unsecured loans.

Unsecured Loan:

Unsecured loans mean loans that are not secured against any asset or collateral. So that means, in case you fail to repay the loan amount, then your assets will not be touched. Such loans have high interest rates, though, to counter the fact that there is no security. Unsecured loans depend upon your credit history and employment records and status.

o What do I need a Private Loan for?
o To buy a car or a boat
o To renovate your home
o Loan for a manufactured home
o Home equity loan
o Signature loan
o Signature line of credit
o Recreational vehicle loan
o Home equity line of credit
o Share or certificate deposit
o Stocks and mutual funds
o Repayment of credit card debts
o Bank overdraft
o School tuitions and college fees

Rate of Interest

Rates keep changing all the time with the market conditions, so it would be advisable to do a little research maybe on the internet or you can directly contact the bank or financial institute. Also, rates depend upon the amount borrowed and whether the rates are variable; this affects your monthly instalments, too, as the rate keeps changing. Fixed rates are higher as they have the advantage of not fluctuating with the market rates and you don’t end up paying a very high amount.

Author: Ricardo Salazar
Article Source: EzineArticles.com
Provided by: Pressure cooker

photo credit: KOMUnews

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 lenders.

Based upon their own lending criteria, HMLs lend money on a short-term basis 6 months to 1 year to borrowers who use it for a variety of profitable purposes. These may include the following real estate loan types: bridge, refinance, development, acquisition, rehab, etc. Since Hard Money is more expensive than traditional sources (14%+ interest rate and 2-10 points+ in origination fees), borrowers usually have a financial gain from using hard money, so the high interest or points usually is offset by the financial gain.The loan cost is not an issue when they may make $150k and pay $30,000 to use their money, would you use it if you could make $150k and pay $30k to use it…

What Type Of Terms Can You Get With Hard Money Loans

These types of loans will vary from private lender to lender. Upfront application fee, due diligence fee and commitment fee may be charged and vary from lender to lender again. Generally they will fund a loan for 50% LTV on raw land and up to 50-70% LTV on the finished product, at an interest rate of 14%+ (depending what area of the country you are in at times ) and for a period of six months to three years. They will also charge between 2-10 points as an origination fee, to be paid out of proceeds. Can be interest only or amortized.

Some lenders will fund interest, origination fees, rehab money, etc.; others will not. Ultimately, when selecting a HML, borrowers will need to understand how these options fit best into their plans.

What Makes Private Money A Great Financing Source And Option?

Your local banks, credit unions fill a definite need for low cost money. Borrowers would love to use them for all of their needs and real estate deals. However, there is a market out there that traditional lenders cannot loan money on. That is where private money comes in and why they exist. They fulfill a need that local banks cannot fill due to government regulations, stricter underwriting guidelines, lower risk profiles, longer funding timeline, etc.

Top 10 Reasons To Consider When Deciding About Hard Money Loans

1. SUPER FAST SPEED

Can close in 5 – 14 days after they get all necessary documentation, banks can take up to 45-60 days.

2. DOCUMENTATION REQUIREMENTS ARE EXTREMELY LOW

Require documentation but not nearly as much as traditional lenders, fund based on the value of the property only and not the borrower credit standing.

3. BAD CREDIT NOT AN ISSUE

Bankruptcy, foreclosure and a FICO scores under 490-600 are no problem. Traditional lenders almost always require a great credit history.

4. VERY FLEXIBILE

Flexibility with loan structuring..awesome! Terms, interest reserve, draw schedules, cash out, financing carry, etc

5. GAP/BRIDGE FINANCING

HMLs are usually very experienced real estate lenders who understand that projects do not always follow the given plan. If a gap in funding exists and the loan and supporting documentation make sense, HMLs will typically fund. Whereas, IL’s guidelines are typically not flexible and they turn down gap loan requests if borrowers get off schedule.

6. FOREIGN NATIONALS LOANS NO PROBLEM

Foreign nationals can get a loan with a hard money lender but will be difficult to get a loan with a traditional lender who have problems lending to nonus citizens.

7. WILL LEND ON HIGHER RISKY DEALS

Churches, non-profit are not a problem with hard money lenders, but are with traditional lenders who are concerned if they have to foreclose on a church loan, and the bad publicity they will receive.

8. PERSONAL GUARANTEES NOT REQUIRED

Loans based on the value of the property so personal guarantees are not necessary. Local banks always require personal guarantees.

9. FLEXIBLE LOAN TO VALUES (LTV)

They are more flexible then traditonal lenders being that they will decide what Loan-to-Values (LTVs) they will accept based on their affinity for the project, cross collateralization, possible equity participation, etc. Traditional lenders will turn down loans asap if ltv’s are to high high.

10. SUBORDINATE LIENS

Hard money lenders will lend on a 1st, 2nd, 3rd or lower position, as long as, the value of the property is there. Local banks may do a 2nd, and hardly ever a 3rd. Typically, Traditional lenders always want to be in 1st position.

What Should You Expect With A Hard Money Loan

If you have a fantastic deal with a super LTV and can’t go to a local bank because of bad credit, or need for funding in two weeks or faster. Now that you know and are informed about what is hard money and and value of concept of it you can send the loan to a private lender. You will pay more money for the loan bottom line then your local banker, but will be easier and quicker to close your deal.

Each deal is on case by case basis, unique; terms vary and each structure of a deal can be different. Lender criteria adjust based on the specifics of each deal, so borrowers will need to be flexible.

Here some things to keep in mind when applying for a hard money loan:

* Title insurance is a must
* All delinquent taxes, judgments, etc. and other liens on the property will typically be taken out of the proceeds unless specifically excluded.
* Insurance, typically, will add the lender as co-insured
* Fund control is always set up on construction, development and any loans which have budgets * Borrower will pay all closing costs, fees, etc. out of proceeds
* Many lenders require the property be put into a single asset LLC, which the loan is made to
* Borrower should be prepared to assign rents
* Interest, in most cases, at least partly will be reserved or prepaid
* Some HMLs require an upfront application fee, due diligence fee and commitment fee. Make sure you understand these fees and how they will be used and if they are refundable
* Almost all lenders require borrowers to have money in the deal. Additional collateral may be required by cross collateralize other properties to keep the LTV acceptable.

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Financial Loan Consultant… Hard Money – Hard To Place Loans Specialist

Do hard money commercial and residential loans nationwide, do alternative business financing for any type of business on a national level as well!

Specialize with restaurant owners whom are opening a restaurant and cannot get a loan because they are just opening up, my product was created to help you if you are opening a restaurant, and could get funded 48hrs after opening your restaurant.

Call now 24hrs voice mail at 718-512-8587

Visit hard money business loans section at Restaurant Funding

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 that students can complete their education without even worrying from where there will get the money for their next month’s fees. There are many loan consolidators who offer private student loan consolidation or private school loan consolidation which can help save hundreds of dollars. Private Student Loan Consolidation is a great tool that allows borrowers to merge all of their private educational loans into one new loan. Private student loan consolidation benefits you in many ways i.e. reduces your monthly payment, lengthens your repayments period, saves your money as repayment is spread over a longer time period, your monthly payment amount will be lower.

Private Loan Consolidation assures reduced interest rates and the saving of money but the main part is selecting an appropriate loan consolidator that is bit tricky and intimidating. Before selecting loan consolidators thoroughly go through their terms, conditions and interest rates and keep reviewing them as their rates might fluctuate. Consolidating your loans with brains avoids hampering your lifestyle. One question that arises is “when to consolidate loan” as far as I have inferred the best time is immediately after graduation as it offers your lowest possible interest rates. After graduation, consolidation loans can help ease the complications of repayment by bundling all your private student loans into a single private consolidated loan with one lender and one repayment plan.

Now you can consolidate your loans online with the terms that meet your requirements by selecting from dozens of online consolidators just surf some sites and you will know what exactly I mean.

Author: Hassan Raza
Article Source: EzineArticles.com
Provided by: Make PCB Assembly

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, and they have a variable interest rate. The minimum you may borrow is $3,000, and the maximum is $50,000 per year with a cumulative cap of $250,000. The money you borrow may be used for any of your financial needs, including tuition, housing, or personal living expenses as long as you provide proof of enrollment in a Title IV school (any school that receives federal funding, such as Stafford loans). There are a couple of key requirements to remember, though. First, either you or a cosigner must have at least $15,000 in verifiable annual income. The second thing to remember is that you must make the interest payments while you are in school. You may defer paying the principal for up to three years after you graduate, and we offer some of the longest repayment terms available.

Once you make it through law school, you must study for and pass the bar exam. Law School Loans offers bar loans to allow you to focus on preparing for your examination. Because this may be the most difficult test you have ever had to take, we want to eliminate the stress and distractions your financial obligations may otherwise cause. Our bar loans are also credit-based with a variable interest rate. The minimum you may borrow is $1,000, and the maximum is $20,000. You may opt to begin repaying principal and interest immediately, or you may defer paying the principal for up to six months after you graduate. In order to qualify for a bar loan, you must have attended a Title IV school, and you must be registered to take the bar exam in any state. Another way we ease your anxiety with a bar loan is by disbursing it quickly. Once we receive your signed promissory note, a check will be issued to you within 48 hours.

After you pass the bar exam and hopefully find the job of your dreams, you may realize that you are making several payments each month to different lenders. It may be hard to budget and keep track of your fluctuating interest rates, payment due dates, and many lenders. Wouldn’t life be simpler if you only had to make one payment each month for your private education loans? Law School Loans has a private consolidation program to assist you with this dilemma. Through our private loan consolidations, you may be able to lower the interest rate of your loans, decrease your monthly payments, and simplify your life! Our private consolidations are also credit-based. The minimum we may consolidate is $10,000, and the maximum is $250,000. We offer some of the longest repayment terms available. Oftentimes, increasing your loan term will decrease your monthly payment, allowing you to become established in your new career and really get on your feet. After all, you deserve a reward! With our private consolidations, you may defer paying the principal of the loan for up to three years after you graduate, and again, our application process is simple and quick and can be done entirely over the phone.

Law School Loans is excited about starting two new programs for attorneys. If you are interested in starting your own private practice, we are here to help with that too! We may also be able to assist you with purchasing a commercial building for your practice. We really want to be your only lender!

Law School Loans has private loan programs to help you through each step of your legal profession. We are knowledgeable about the financial requirements attorneys may have and the struggles you may face in the early stages of your career while establishing yourself as a prominent attorney. You do not need to endure these tough times alone. Let Law School Loans provide you with the financial support you need for success.

Author: Hardik Shah
Article Source: EzineArticles.com
Provided by: Wordpress plugin Guest Blogger

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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 solicitation across state lines. If this happens you may be required to register with the federal SEC.

List Brokers

So how do you market to potential private lenders using a list purchased from a list broker? You can start with a national list broker like InfoUSA or Melissa Data and purchase a list that is tightly defined to fit your needs. In fact, most large list brokers already have a predone list targeting high net worth investors. You may want to go with this type of list or customize to fit your needs.

I would start with people that have significant net worth over $500k and have IRA’s or CD’s investments. This fits the profile of typical private investors. You may also want to add retired people who have IRA’s over some fixed dollar amount. It is critical, however, that you only allow people with a primary residence in your Local County or state. Even once you receive your list, I would recommend you proof it once or twice to be sure you only have addresses in your county or state. I know it may be shock that someone may make a mistake, but it does happen and guess who will pay the price for the mistake. The SEC does not care that a clerical error was made.

Once you have a clean list, you can send each person a postcard or letter. Be sure that the message you use on the postcard or letter is more of an offer to provide more information or an invitation to a seminar as opposed to an offer to directly invest with you. You may even want to offer a free voice recorded message or website where they can go and get additional information about your company and investment information.

I invite you to learn more about Private Lenders and get my new FREE 20-page ebook titled “Discover the Secrets of How to Fund Your Real Estate Deals with Private Lenders!” by clicking here http://realestatewealthtoday.com/FREE-eBook.html

Mike Lautensack is a full-time real estate entrepreneur in Philadelphia, PA and creator of the Private Lending Presentation Kit. This powerful done-for-you kit is loaded with tools and techniques to attract and develop a consistent stream of private investors into your real estate business. To learn more about this kit and receive your FREE Real Estate Wealth Newsletter go to the Private Lending Presentation Kit

photo credit: ericskiff

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 “the Bank.” Deliver your presentation to your contacts within your sphere of influence and your warm market, such as business associates, friends, family, realtors, accountants and attorneys to name a few. Some of these people may know other contacts within their own networks interested in investing.

Fourth – You will find that many potential private lenders have CD’s or money market funds that are only yielding 3% to 5%. Your presentation has to show that you can offer your investors anywhere from 9% to 15% return on their money versus the small returns they are currently getting at the bank. If they stocks or bonds they may be even more willing to invest in something as safe as good solid local investment real estate versus losing 50% or more in their stock portfolios. You need to offer them more income with a secure investment.

Fifth – Once you have a potential lender or two that has expressed some interest you need to present your proposed deal. You will need to show them what it will cost to purchase and rehab the property and what it will be worth once compete. You may want to borrow all of the money to purchase the property. Or you may go to a bank and borrow 80% and then use your private lender to fund the remaining funds.

Sixth – Make sure your private lender sends the funds (i.e., certified check or wire transfer) to your closing attorney or title clerk. Never have the funds made out to you or your company. Create a promissory note for your private lender explaining the terms of the transaction and make sure they are in either first or second lien position on the property.

Seventh – Complete the purchase of the property and rehab and be sure to invite your private lender out a couple times to see the progress so they remain comfortable the investment and build a long term relationship.

I invite you to learn more about Private Money Lending and get FREE instant access to a 60 minute audio and 20-page eBook titled “Discover the Secrets of How to Fund Your Real Estate Deals with Private Lenders!” by going to http://realestatewealthtoday.com/FREE-eBook.html

Mike Lautensack is a full-time real estate entrepreneur in Philadelphia, PA and creator of the Private Lending Presentation Kit. This powerful done-for-you kit is loaded with tools and techniques to attract and develop a consistent stream of private investors into your real estate business. To learn more about this kit and receive your FREE Real Estate Wealth Newsletter go to Private Money Lending Kit

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. Some of these expenses can include paying for weddings, borrowing money for a new or used car, and even paying off credit card debt.

In fact, that brings us to the second most popular reason why a private loan is a good idea: credit card debt. Credit card debt is a fact of life for most people, but it doesn’t have to be. Credit card companies take advantage of the fact that many people can only make minimum payments each month.

Even though minimum payments are made, interest rates keep climbing. Essentially, those people that only make minimum payments wind up paying more than they bargained. They may use one credit card to pay another and a never-ending cycle of paying only interest and little to no principal begins. By consolidating debt with a private secured loan such as a car title loan, the borrower will be able to make one easy monthly payment instead of multiple payments to multiple creditors. Many private lenders have flexible terms and can find a repayment plan to suit your budget.

No matter what your reason might be for acquiring a bit of extra money, applying for a private loan is a great way to relieve some debt, pay for an event, or simply create some extra spending money – wouldn’t that be nice? Private loans can be obtained for anything that you have in mind, from house repairs to new acquisitions.

When you apply for a private secured loan, you will be able to gain the money that you need right away. This is often the biggest incentive for people that need money now. Traditional lenders can take weeks to approve a loan, and sometimes they can take just as long to deny a loan application. Private loans just make sense.

Author: Molly Wider
Article Source: EzineArticles.com
Provided by: Guest blogger

One of the more prominent differences between federal loans and private loans is the fact that, in order to qualify for federal loans, a student must fill out and submit the FAFSA form, while students applying for private loans do not have to submit the FAFSA. Furthermore, most of the federal loans offered are need based scholarships, meaning that only students who demonstrate acceptable levels of financial need can receive them. Private loans, however, are generally awarded based on the potential borrower’s credit history; a cosigner may be necessary to receive a private loan.

Federal loans are disbursed directly to the student’s school and thus have to be used only for the COA. With private loans, the funds go straight to the recipient of the loan, usually within five business days. The things for which the money is used is left up to the borrower’s discretion.

There is a cap on how much money the federal government will allow a student to have for any given loan each year so there are no guarantees that a student’s financial aid package will meet all of his or her college expenses and needs. In general, borrowers can receive substantially more money from private loans, as there is no annual cap.

With federal loans, students are guaranteed a grace period of six months following graduation or withdrawal from an institution. If necessary, there are other opportunities for deferral as well, provided that deferment is approved. Conversely, the recipients of private loans can seek deferment only while they are in school. Private lenders offer no grace period and it is much more difficult to receive a deferment after the borrower has finished with school.

There are circumstances under which federal loans can be forgiven, canceled, or discharged. Furthermore, in cases of financial and economic hardship or of the student going back to school, federal loans offer the opportunity for substantial deferments. With private loans, there are no opportunities for forgiveness; requirements for deferment options are much more strict and tightly regulated.

With federal Perkins loans, federal Stafford loans, and PLUS loans for parents, there are fixed interest rates. Private loans, on the other hand, come with variable interest rates, which can be as much as five percent higher than the interest rates offered by federal loans.

Lastly, the average repayment term for federal loans is ten years. Private loans determine the repayment term according to how much money the loan recipient has borrowed.

Author: Gary Marjani
Article Source: EzineArticles.com