Private financing can be a great way to finance a real estate investment, for you and the person or company who is willing to lend you the money.
The benefit to you is that you may be able to obtain financing after banks and/or mortgage companies have turned you down, and in the case of “owner will carry financing,” you might not even need to come up with a very large down payment.
The benefit to private lenders is that they can make a higher interest rate than they’d get from CDs or money markets, and they have the property as collateral in the event that you default.
Sources for private financing for real estate investing include:
• business associates
• real estate investors
• members of a real estate investors club
Outside of your own circle of friends, family, and co-workers, where can you find private lenders who would be willing to finance your first or next real estate investment? Attend a free real estate investing webinar and learn more.
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