What’s one of the biggest roadblocks for flippers? Getting the funding you need to jump on a great fixer upper. Here’s how to use Colorado Private Money Lender to put that roadblock in your rearview mirror.
What exactly is private money lending? Private money is simply a way to refer to lenders and funding that occur outside of the traditional financial institutions. This could be virtually anyone including friends, family members, your doctor, or a co-worker. There are also lenders who deal solely with private money, connecting people who want to lend their money with people who want to invest in real estate by flipping.
Why would anyone want to lend their private money? Consider the alternatives. They can invest in the stock market. And they could win big, but they could also lose big. They never know what kind of return they’ll get on their money. They could keep it in a savings account or a CD, but those options usually don’t gain enough interest to even make up for inflation. They could go the old-fashioned way and keep in under their mattress, but that won’t make any interest and opens them up to theft.
Conversely, a Colorado Private Money Lender can lend funds and know exactly what kind of return they’ll get on their investment. And, in the case of flips, they know they can get their money back in a short period of time, typically under a year.
Why You Would Want to Work with a Colorado private money lender
Now we know why someone would lend their private money, but why would flippers want to go this route? After all, the interest rates are usually higher than the banks’ rates. Again, consider the options. With a bank loan, you’ll need to jump through all sorts of hoops to prove that you are worthy of the funds. That means having your credit score, bank account, and past history scrutinized to the nth degree. It also means waiting as much as a month or two to get your money, which is an eternity when it comes to closing on an investment property.
With private money, you can get approved in a day or two and have the money in your account in as little as 10 days. Plus, by working outside the system, you can negotiate terms with the lender that works for both of you.
Finding a Colorado Private Money Lender in Colorado
So how do you find a Colorado private money lender? It’s not as hard as you think. In fact, you’re already in the perfect place. We have decades of experience connecting real estate dreamers with the funds they need to make those dreams come true. Contact us today and we can talk about doing that for you.
Level 4 Funding LLC
Hard Money Lender
Hard Money Loans
Hard Money Loan
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis Dahlberg Broker/RI/CEO
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave | Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.