Why You Can’t Afford to Live Without Private Money Lenders
Why is it that you can’t afford to lose your private money lenders? With so much foreclosure inventory coming off backlog from the first quarter of 2013, competition among real estate investors is fierce in certain U.S. markets. In order to take advantage of as many opportunities as possible in the shortest amount of time, there is one thing that provides certain real estate investors with a competitive edge over others. And this is their relationships with private money lenders, also called “hard” money or “bridge” loan lenders.
The big banks held back on the release of new foreclosure inventory in the first quarter of the year. This combined with increased competition from hedge funds, like Blackstone snatching up billions in residential investment properties, has tightened up the availability of inventory in some U.S. Cities. But now that banks have slowly begun to release foreclosure inventory in the second quarter, many investors who have been on the sidelines are ready to pounce. These investors use real estate loans from private money lenders to fuel their acquisitions.
For the most successful real estate investors, opportunities seem to come in 3’s and 4’s. Particularly with hedge funds with billions of dollars to play with, competition is ruthless. If you have never used private money lenders to finance your real estate, start to get to know the private money lenders who lend in your geographic area. The relationships with your private money lenders are important for being at the top of your game.
If you never had a private money loan before, learn more on our ‘Hard Money 101’ at this link : https://privatemoneyutah.com/hard-money-101/