|
|
 |
|
| |
|
|
| |
by Kalinda Rose Stevenson
|
|
print article · comment on article
|
|
| |
previous |
page 2 of 3 |
next |
|
| |
|
|
| |
the people you know if they are happy with the returns they are getting on their investments. Then you ask if they would be interested in earning higher rates of return through safe investments in real estate.
If you don't know about private money for real estate investing, it's highly likely your friends, relatives, and neighbors don't know either. They simply don't know that they can use the money that is sitting in low-interest savings accounts, money market accounts, and CDs to invest in real estate. They also could have substantial equity in their own homes or IRAs that return tiny yields on mutual funds.
You can explain to them that you are offering a higher rate of return than they could get through any of these other so-called safe investments. They could earn 8%, 10%, even 15% by funding a first mortgage on an investment property. One of the greatest benefits of using private money is that you can create flexible rates and terms. You are asking for them to invest in a property that will guarantee them a higher rate of return than anything they are doing now. And you are doing it by offering a first mortgage secured by real estate.
After you find a person who is interested, your third step is to find a title company to set up the paperwork for you. You are not simply asking to borrow money. You are asking your private money lender to fund a mortgage on your investment property.
At this point, the title company will treat the mortgage contract between you and your private money investor the same way they would treat a mortgage contract between you and any bank.
If you want to get started investing in real |
|
| |
|
|
| |
previous |
1·2·3 |
next |
|
|
