Calling All PV Lenders

[Grayson Grzybowski]

If there are any Private Money Lenders out there that agree to terms when paying back money would you PLEASE provide me with your contact information so I have some more people to turn too!

I keep hearing about doing deals with little to no money, but if I want to do that then I need a Lender that would allow me to pay off the loan a little longer that 0-18 months because I want to keep the properties long term!

I am one that has only little money for starting, I do have a great job finically, I have all of my financing put together really nice in my Personal Financing sheet, but I can not pull the trigger on deals because of funding. I am really trying my hardest to get my first property this year so I hope there are people out there willing to work with me. Please PM me with your contact information so we can talk about your terms THANKS! 

[Doug Smith]

The default rate increases exponentially the less a borrower injects into a deal. That's been a well-documented fact of lending forever. That is especially true if the borrower is not living in the property. Lenders know this and require that you put something into the deal. You might be able to find an individual that will willing to back a no or little money down transaction, but a professional lender won't. That being said, Bridge loans (hard money) are not intended to be long-term loans. There is more permanent financing for that, but you'll really need 20% or more into the deal if you're talking about rental property...particularly when you're just starting out. It might not be exactly what you're looking for, but it's the truth.