Financing and Credit

Best Ways to Find Private Lenders
By Kate Beswick

Whether you’re on the cusp of a great real estate deal, or just have a hot idea that you need some backing on, private lenders can be a great way to go! Finding one or two private lenders can be easier than dealing with huge public corporations and can be less of a hassle than things such as government programs and funding. But finding someone who’s willing to invest in your idea can be tricky. We’ll show you how to do it with just a little advance planning and some smooth talking on your part!

I've been asked, by a few people that want to get into investing, the following question:

"I have Good Credit but little to No money, what can I do in this real estate market?"

I've offered a few different suggestions, but I wanted to hear some feed back from some of DG students...so please, what would you tell these people or how would you answer their question.

Thanks
Nick

We purchased and rehabed a HUD house. We have had it 6 months and have it rented.

We are trying to decide between 2 options for financing.

1) 30 yr fixed at 5.875 with $2500 closing costs. Amount is 75% of apprasial amount.

2) 30 yr/15 yr balloon at 7.5% with minimum closing costs. Amount is 80% of tax value.

The concern is the apprasial will not come back at the amount we need. With the second option we could get 5K extra but we would be paying more in the rate. We don't know how long we will hold the house. Depends on the economy.
Any thoughts?
Julie

PLANET CAPITAL INVESTMENT. is a private investment company that provides financing to Small-cap, publicly traded companies. Our mission is to add value by providing not only financial resources and industry knowledge, but hands-on M&A strategy and implementation. Acting as principal, we maintain successful long term relationships with our portfolio companies. Our expertise lies only partly in creating flexible financial structures. More importantly, our ingenuity and financial resources enable a company to grow both internally and externally via acquisitions.

PLANET CAPITAL INVESTMENT. is a private investment company that provides financing to Small-cap, publicly traded companies. Our mission is to add value by providing not only financial resources and industry knowledge, but hands-on M&A strategy and implementation. Acting as principal, we maintain successful long term relationships with our portfolio companies. Our expertise lies only partly in creating flexible financial structures. More importantly, our ingenuity and financial resources enable a company to grow both internally and externally via acquisitions.

PLANET CAPITAL INVESTMENT. is a private investment company that provides financing to Small-cap, publicly traded companies. Our mission is to add value by providing not only financial resources and industry knowledge, but hands-on M&A strategy and implementation. Acting as principal, we maintain successful long term relationships with our portfolio companies. Our expertise lies only partly in creating flexible financial structures. More importantly, our ingenuity and financial resources enable a company to grow both internally and externally via acquisitions.

Is there anyone out there that was at the edge event or ordered it and can help me. I was watching the first video about establishing biz credit with Nathan Street. He said that we can go to a bank with a certain amount of money and open a business checking account, then immediately get a loan for that amount using only your EIN number with your checking being Collateral. Then take that loan to another bank and repeat. Do this to three banks and then go back and pay off original, and so on.

i am curious about this private lender and i don't understand the following criteria.

# Terms from 6 to 36 months, no pre payment penalty.(does this essentially mean "no seasoning" ?
# Construction & Rehab loans up to 100% LTC at 65 LTV of the ARV.
# Land loans up to 50 LTV.
# Residential refi up to 65 LTV, purchase up to 80 LTV.
# Commercial refi up to 75 LTV, purchase up to 80 LTV.
# We are not FICO driven up to 65 LTV.

can someone please break this down and is this a good lender to borrow from?

If I can purchase a home to live in from someone on a land contract with no money down, how hard is it to go to the bank and get a home equity loan on that property? Here is the situation:

Purchase home from parents for $80,000 (to live in)on land contract.

Get loan from bank for $45-50K against the property.

Pay off my car and some credit cards: $25,000 approx

Use rest for money down on some other investment properties.

Payment will now be alot less than my current car and credit card payments.

What do I need to do to accomplish this?

Hi all! Thanks for the ongoing support from everyone-it means quite a lot!

Im in the Army and in the process of refinancing my home with a VA loan and getting some cash out for investing.

My question is:

Can I start looking now while I refinance-ie. is it possible to get a new mortgage while Im currently in the middle of refinancing my current house?