Using alternate sources of Funding for deals

[Ryan Cameron]

I was just kicking around this idea since watching a video last night.

Using lending sites such as lendingclub to finance my next deal.

Pros:

-easy application process (takes about 2min online)

-turn around time (could have funds in your account within 2weeks)

Cons:

Higher interest rates

I am seriously considering trying this, even at a higher interest rate, I could easily re-fi the property in a year for a lower rate. And I could still be cash-flow positive even at the higher rate

Please share your thoughts on this method of financing