The investors I lend to are a diverse group. I usually have an existing relationship with the investors I fund. I’d like to clarify some terms: Hard Money, Hard Money Lender, Points, Private Money Lender. How do I evaluate a potential loan? My decision is based on three factors: the borrower, the deal, and my plans.
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I lend to strengthen a relationship with a fellow investor. That’s right. Lenders want to partner with investors. I have to invest and am not interested in taking chances on the stock market. Why not lend the funds to a real estate investor and form a business alliance? Private money is, primarily, about relationships.
I am a private lender. I am not wealthy. The first deal I funded was for $50,000. That may seem like a lot of money but you probably come into contact with many people every day who have $50,000 and many of them will be happy to lend to you if you find an appropriate deal and present it correctly. Really. This is part 1 of 6.
Yesterday we inaugurated the first Black American as President of the United States. Considering that 60 years ago Obama would have to drink out of a different water fountain than me, I find this historic event inspiring and it gives me hope for the future of America. Regardless of your political beliefs, President Obama’s inauguration speech calling for a new era of change was an eye opener. While I’m far from the world’s biggest Obama supporter (I’m a Ron Paul supporter), I found much of the President’s speech exciting and motivating at this particular juncture in our history.