- It’s Fast:
Flipping homes is a time-sensitive business. Depending on how fast you submit the loan package items, you can have your loan in several days to several weeks. It can take one to three months to secure a loan with traditional financing. - It Looks at Collateral, Not You:
Private money lenders are not interested in credit score. They are interested in how much value they see in the property since the property is the asset that is backing the loan. - It’s Everywhere:
Private money lenders are often people who have funds parked in lower-yielding financial vehicles like CDs, stocks, or IRAs and are looking for newer ways to maximize their funds in higher yielding conduits, like lending on real estate. - It’s Creative:
With Private money, you can get funding on great deals that banks would normally shun. Promising investment properties that need repairs, make them unsuitable for most banks, but perfect for most Private money lenders. - It’s Flexible:
Private money lenders don’t have the same strictly enforced guidelines to follow for their loan applications, so they are more willing to help creatively structure loans that work for the project.
Having a Private Money Lender, like GoTo Private Capital LLC in your court gives you confidence to put properties under contract. As long as you find the no-brainer deal that fits our guidelines, do the proper due-diligence, and turn in an application. you can be rest-assured that the deal will be funded!