No More Keeping Up with the Joneses | Think Realty | A Real Estate of Mind

Abstract

A few liberties were taken and names were changed to protect good-hearted private money lenders, but the story is the same: Private lending is not always the best way-or only way-to create wealth for real estate developers or investors. Real Estate Lenders & Investors Who are you, Private Money Lenders? Doctors, lawyers, business owners, tech-creators, C-suite execs, and entrepreneurs? In other words, you have other things going on in your life. To completely finance their deal, they often turn to private money lenders, giving you another opportunity for great returns with perhaps a little less risk. Simplify Your Investments Lending on a crowdfunded investing platform versus with a group of colleagues can make it much simpler to find deals to passively earn income. While we can't speak for every lender-some of them might have strict terms-many direct lenders offer real estate entrepreneurs flexibility in their loan structure. True, there may be more paperwork involved than dealing with a private money lender, but you also get more support and consistency. People-First Lending The next time you're looking for funding, ask yourself: When was the last time your lender visited your job site? Does your current lender know your business goals? Can you easily get in touch with your lender via email, text, or a call? How quickly does your lender get back to you? Does your lender explain the benefits of various exit strategies or establishing an LLC for your business? If you answered "No" to any of these, then you're not working with a lender that puts your business first.