5 Myths of Private Money Loans – Part 5

Myth #5: Private Money Lenders Want to Take Your Property Truth: “Good” Private Money Lenders Do Not Want Your Property. Private money lenders are generally individual people who are looking for a stable way to invest their money. Since the investments are secured by real estate, it provides them peace of mind. They are not

5 Myths of Private Money Loans – Part 4

Myth #4: Private Money Loans are Too Risky Truth:  Private Money Loans can be risky if you don’t understand how they work.    What is risk? According to Merriam-Webster Dictionary , two of the standard definitions of risk are “Possibility of loss or injury” and “The chance that an investment (as a stock or commodity)

5 Myths of Private Money Loans – Part 3

Myth #3: Private Money Loans Cost Too Much Truth: Private Money Loans Cost Too Much “When compared to” a Bank Loan “12 Percent? That’s expensive! I would never pay that much for a loan.” Yes, it’s true. The interest rates on private money loans are higher than those on conventional bank loans. The reason is

5 Myths of Private Money Loans – Part 2

Myth #2: Private Money Loans are Only for People with Bad Credit Truth: People with perfect credit also benefit from private money loans. Sure, private money loans are a great option when you have no credit or bad credit, but they are not just used by people with poor credit. Allow me to explain. There

5 Myths of Private Money Loans – Part 1

Myth #1: Private Money Lenders are Loan Sharks Truth: Many private money lenders are simply looking for smarter and safer ways to invest their money. Whenever I bring up the fact that I work in private money lending, the common jokes come out. “Wow, so you walk around with a baseball bat and bust kneecaps?”