Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 9 years ago, 11/12/2015
Whos the best to borrow from? Hardmoney? Crowdfunding?Bill Gates?
Hello!
I'm new to BiggerPockets, but it was highly recommended that it would benefit me.
I am pretty established, for a small fish, in the real estate game.
I own several properties and am at the point where I want to either pull money out of some properties, or I want to borrow to privately to continue growing the business.
I'm sour on banks because they all laughed me off when I pitched them my real estate business idea 5 years ago, I pitched to six financial institutions too. Now that I have assets, rental properties, the same assets they found funny and "not invest-able" at first, they'll beg to work with me, but their fees are crazy....when I do the math, private investing almost seems like it would be a better way to go. Since my properties are inner city my closing costs alone were almost $3k on a 10 year mortgage loan around $50k, that's insane for a property that generates the rent it does.
If anyone has any advice or links they could send my way I'd appreciate it!
I'm sure I'll be online for the next three days looking over this site...good stuff on here.
Thanks!