Why private lending?

Hi Folks,

I’m getting ready for tonight’s webinar with Alan Cowgill, and I wanted to share some more information about private lending with you.

I started my business by using banks, credit cards, lines of credit, hard money, and other creative techniques. But I knew it was going to get harder and harder to get loans to purchase properties and I’ve always been unhappy about how long banks take to get the job done. Banks don’t always want to make a loan on the kind of house that real estate investors buy, but that’s what the rehab business is all about. Buy ’em ugly and cheap, and fix ’em!

Just think, if I would have used a private lender on some of my early deals, I could have bought, fixed & sold the house, and pocketed $20,000 by the time I got to the closing table with the bank.

With private lenders, you can have funds available all the time. When a good deal comes your way and you have private lenders lined up, you can grab it right away because you know the money is waiting for you. While your competitors are scrambling around applying at the bank, you’ve already made an offer and closed the deal. You’ll love having private lenders for your business. One of the major benefits of private funding is SPEED to purchase a property.

Some private lenders don’t need monthly payments, so you can structure your loans so there is no payment until the property is sold. This is a huge benefit… Think about what this can do to improve your monthly cash flow. Another major benefit of private lending is improved CASH FLOW because you don’t have to make monthly mortgage payments to your lenders, and can just let their interest accrue.

Ask yourself this:

– What would you do if you had access to all the money you needed to complete any real estate deal?

– Would you be more aggressive in hunting for profitable deals?

– Would you do bigger deals that offer the possibility of greater profits?

– Would you begin buying higher value properties that offer bigger returns?

– Would you leverage the power of your unlimited funds to secure bigger discounts in your deals?

– Would you be willing to take more chances knowing that if they succeed you’ll net much higher profits than usual?

– Would you sleep easier at night knowing that your funding needs are taken care of and that you’ll never have to miss another deal due to lack of cash?

– Would you begin enjoying a true life of luxury?

– Would you decide to retire early?

– Would you take the time that you used to spend trying to get funding and now use it to be with your family or to work on other areas of your business?

    The webinar starts in TWO HOURS at 5:00pm Pacific / 7:00pm Central / 8:00pm Eastern. If you haven’t registered yet, what are you waiting for? Make sure to be on time, we are going to be full tonight. Yes, sign me up for the free webinar!

    Until tonight, happy (and profitable) investing!

    Doug Smith

    P.S. The private lending webinar with Alan Cowgill starts in TWO hours at 5:00pm Pacific / 7:00pm Central / 8:00pm Eastern! If you haven’t already registered, go do it now – Yes, sign me up for the free webinar!

    Posted on Apr 30, 2009

    Author: Doug Smith

    MyHouseDeals was founded in April of 2005 and has since provided information on thousands of bargain-priced properties with over $7 Billion in equity (and growing!) In addition to property lists, we help investors succeed by providing valuable tools, resources and education. Most of the properties on MyHouseDeals are single-family houses. Many of these properties are wholesale deals, which are for sale by other investors. Others are motivated seller leads, which are for sale by homeowners who are often in a bad situation. These properties are typically discounted by far greater amounts than bank foreclosures.

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