What is Private Money?

By on October 30, 2017

If you think that banks, credit unions, and mortgage companies are the only sources of funds for your investment properties, think again. There are a lot of ways to get the money to buy investment properties without having the need ask banks for help. One of these methods is acquiring private money.

As the name implies, private money refers to the funds being provided by private individuals or organizations. It is somewhat similar to hard money loans in a sense that their lenders are not concerned about a borrower’s credit history. Unlike the financing provided by banks and other traditional lenders, this particular type of loan is considered flexible by many borrowers as there are no definite rules or terms when it comes to private lending.

One of the advantages of securing financing from private money lenders is that a borrower doesn’t have to undergo credit checks. In addition, borrowing from these people doesn’t usually reflect on your credit report. And

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