Private Money Loans
When making decisions about what businesses or areas you should invest in, real estate isn’t always the first option due to all the money required for it and, usually, the only way to obtain it is by private money loans.
Every investment comes with a risk and certain aspects that won’t be the best option in specific moments. However, real estate is a good alternative when you look at it strategically and mostly, in the long-run. If you are considering the option, you need to look at real estate as a method to promote wealth building, which is what the industry is mostly about.
But here is what you need to have in mind as well: real estate can be a great option to invest in and highly lucrative, but this is as long as you have enough knowledge in the field and foundation for it.
As we mentioned before, investing in it is not about having a few hundred in our bank accounts. Instead, it can take large amounts of money to guarantee success and real estate that are worth the investment. Investors who are unable to find the required money for it are limited to what they can do or not.
Therefore, the main problem lies in not only learning but also, where will you find the required amount for the investment. If you start by using your own capital with it, that isn’t a bad idea at all. But what most real estate professionals or experts are doing is to reach out to several lending institutions or people who are willing to provide the money for the investment.
Right now, the best choice would be to find private money loans that can help you to get the amount you need but also, offer flexibility when it comes to payment and good interest rates. At Commercial Real Estate Loan Pros of West Palm Beach, we will lend you the capital required for your real estate investment and help you to avoid the need of acquiring new properties with the money you have gained from previous inversions.
One of the main issues with this business is the fact of having to take your well-earned money from your bank account and reinvest it in other properties. Although this money should be reinvested, you also need to save part of it as your own earnings. With that said, yes, real estate is about acquiring new properties and making them profitable, but the problem lies in you having to spend more than you have for it.
With us as your lenders, you can use part of your hard-earned money but also, secure real estate that is worth much more than the loan itself.
Why private money loans instead of traditional banks and other lenders?
Real estate financing usually came from banks, insurance companies, some government agencies, and pension funds. What changed over the years? Although all these institutions still offer loans, it is hard to access them and many people tend to lose opportunities based on the time they finally get the loan approved.
Since all of them have to follow very specific requirements and laws established for the type of business or entity, offering loans in a shorter period of time as well as large amounts of money isn’t simple. Therefore, in time, none of them would be the best option to invest in real estate where time is one of the most crucial elements. What about interest rates?
Every lender establishes its own rates or according to certain regulations. For banks and the previous institutions, most of the rates go over 10% yearly, which makes it even harder to choose them. Meanwhile, private money lenders are able to compete with these rates since they go from 7% to 14% yearly. Starting from this, investors and real estate professionals decide to go for private money loans due to how simpler and easier it will be to pay for them. Also, getting one approved takes less time, fewer requirements, and they are able to invest it in real estate that is worth the loan they take and even more.
In our company, Commercial Real Estate Loan Pros of West Palm Beach, we understand the need of finding a lender that can offer the amount of money required, good payment terms, and fair interest rates. This is why we have worked hard in offering great financing options with our private money loans to ensure an average or any investor can run and maintain a sustainable career that isn’t 100% based on its earnings or other loans from different institutions.
Unlike most banks or other real estate lenders, we are able to offer great deals for your loan regardless of the amount you request. As with any other company or institution, we also have our requirements and conditions, but we have simplified them to guarantee every real estate investor has opportunities to access them and continue a career in the industry.
Who should apply for a private money loan?
Although it isn’t hard to apply for one, you also have to consider your situation, income, and savings. Loans aren’t for everyone nor people who only have some money to spare in their bank accounts.
As mentioned before, real estate can be an ‘expensive’ industry where you might be able to access loans, but you still need capital for it and a certain income to ensure you’re able to pay for them. Therefore, there are a few considerations if you want to apply for one:
- Have great income thanks to a career, profession, or job that allows you to apply for a loan and guarantee its payment.
- Have a sizable retirement savings account.
- Already part of the real estate industry as an investor that wants to access loans to invest in larger properties and opportunities.
- Looking for an alternative and lucrative option to invest all your savings.
- Want to have a passive income.
At Commercial Real Estate Loan Pros of West Palm Beach, we receive applications and any person who is interested in investing in real estate. We encourage you to ask more about our loan and reach out to us for any doubt or request you have. Although you should consider the previous aspects, we will not limit you from applying for one and since we’re focused on the real estate industry, you will have an answer in no time.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.
We service all counties and cities throughout South Florida. However, if you need any of these services in other cities throughout the state of Florida, please contact us. See what services we offer below: