How Private Loan Lenders Can Jump Start Your Real Estate Investing Business
A Private loan lender is someone who, just like you and me, works and has saved their money to invest.
In the past they may have invested in the stock market or bonds.
With today's economic uncertainty the stock market is such a risky venture it makes real estate investing look like a stable market and has investors flocking looking for better alternatives.
Everybody across the country has seen the huge drop in real estate prices and anyone that has some money saved knows now is the time to purchase real estate when prices are low.
So when searching for a private loan lender have some facts about the current real estate market in your area right at your fingertips so when you are face to face with a private loan lender you can help them see the golden opportunity in front of them.
The news never paints a truly clear picture of the real estate market.
Only the people that day after day study the numbers of sales and new listings, pendings and off market properties will really understand what the current market in your area is.
If you are not a real estate agent then becoming affiliated with one will greatly help your real estate investment business.
These people can jump start your business ahead leaps and bounds and are one of the most important contacts to have in your Rolodex.
Not only can they help you find a private money lender, they can help you find the property you will want to invest in.
Real estate agents also have the added power of being able to look up the current mortgage on a property most counties do not have this information available to the public.
So when you set out looking for a private money lender finding sellers that owe nothing on their property is an excellent way to start.
Lots of times they will be interested in helping you to purchase their property even if they have to carry some paper.
Although I have found most people who own their home outright want to carry the paperwork because of the low amount of risk (this is only if they are in first lien position and have a very good contract that protects them in case of foreclosure).
Finding home owners that owe nothing on their home by yourself without the aid of an agent will be time consuming and your chances of success goes down greatly.
Agents are an incredible valuable resource and using their contacts and information will make your business a lot more successful.
They will also make finding and securing a private loan lender a lot easier.
In the past they may have invested in the stock market or bonds.
With today's economic uncertainty the stock market is such a risky venture it makes real estate investing look like a stable market and has investors flocking looking for better alternatives.
Everybody across the country has seen the huge drop in real estate prices and anyone that has some money saved knows now is the time to purchase real estate when prices are low.
So when searching for a private loan lender have some facts about the current real estate market in your area right at your fingertips so when you are face to face with a private loan lender you can help them see the golden opportunity in front of them.
The news never paints a truly clear picture of the real estate market.
Only the people that day after day study the numbers of sales and new listings, pendings and off market properties will really understand what the current market in your area is.
If you are not a real estate agent then becoming affiliated with one will greatly help your real estate investment business.
These people can jump start your business ahead leaps and bounds and are one of the most important contacts to have in your Rolodex.
Not only can they help you find a private money lender, they can help you find the property you will want to invest in.
Real estate agents also have the added power of being able to look up the current mortgage on a property most counties do not have this information available to the public.
So when you set out looking for a private money lender finding sellers that owe nothing on their property is an excellent way to start.
Lots of times they will be interested in helping you to purchase their property even if they have to carry some paper.
Although I have found most people who own their home outright want to carry the paperwork because of the low amount of risk (this is only if they are in first lien position and have a very good contract that protects them in case of foreclosure).
Finding home owners that owe nothing on their home by yourself without the aid of an agent will be time consuming and your chances of success goes down greatly.
Agents are an incredible valuable resource and using their contacts and information will make your business a lot more successful.
They will also make finding and securing a private loan lender a lot easier.
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