With the current state of the economy and the tightened financial markets, the use of private money lending sources has skyrocketed over the last couple of years.
Adding fuel to the fire is the fact that our so called “Great Recession” has put many people into bad credit situations that prevent them from obtaining financing through traditional lending sources.
And these two situations don’t show any signs of changing soon.
Now you are here for a reason and I think I know what that reason is…
You know that you need private money in some way shape or form. Perhaps it’s to finance a fix and flip investment or maybe it’s a cash out re-finance on a property you own to get some liquidity for your business…
There’s any number of reasons – you’re just searching for the best private lenders out there before you pull the trigger.
Or you are thinking about getting started as a real estate investor and have just been introduced to the concept of private money. You’re doing your research to get a full understanding of how it works and to find a private money lending source that you can trust when you are ready to move forward.
The purpose of this article is to provide you with the resources you need to help you achieve your goals. Since I’m trying to help people with different objectives with one article, I’m going to start at the very beginning for those who are researching right now.
If you find yourself in the category of simply looking for the best private lending sources, you can skip down to the end of the article.
Let’s start by defining some key terms.