Funding From Private Lenders And Investors
Private Lenders, Corporate Investors and any lender for that matter – all want to make sure that borrowers not only repay their loans, but also pay them on time, so they can deploy their money elsewhere. When it comes to private mortgage lenders, to be “responsible” and “competent” means not only being able to put a great investment property under contract, but also to realize your rehab vision on time and within budget. In other words, we want to work with borrowers who are well positioned to make a profit.
Spectre Capital Finance Brokers are trained to identify promising transactions and weed out of the rest. However, no matter how competent they are, they simply are not in possession of all the facts. How thorough of a job has the borrower done on the scope of work? Has the borrower’s contractor provided an accurate estimate or low-balled it to get the job? Does the borrower have the time, energy and motivation to focus on the rehab or will they be distracted by other things in life? How this borrower deals with obstacles – perseveres or gives up easily? All these questions are critical in determining the lending experience for both parties.
Make it worth the effort. Hard money lenders and Investors are great private financing option, and they also come with less stringent qualifying standards than typical mortgage loans and financing products. The catch? Well, they also come with much higher interest rates. Because of this, a hard money loan is best suited to fast jobs like fix-and-flips or as bridge financing between buying a property and securing a longer-term loan.
The bottom line: Few investors have all the cash they need right off the bat. Fortunately, raising capital for real estate investments is easier than it seems. Need more help getting your next real estate deal or investment opportunity off the ground? This Spectre Capital Finance can indeed help with. Email: email@example.com.