Private Money Lending
You bring the deal and we will provide the money!
You bring the deal and we will provide the money!
Are you a Real Estate Investor that needs more money? Are you ready to scale your business to take it to the next level? Our nationwide network of Private Money Lenders are ready to fund your deal. The first step is to contact us so we can hear about your deal.
While traditional loans depend on the borrower’s credit score, employment status, debt to income ratio and etc., private money offers other creative ways of qualification. Majority of the time, private money loans are secured by the property that is being acquired or by another asset.
We offer short term funding (6-24 months) for fix and flips and long term 30 year financing for the investors that prefer to buy, reno and rent. We can also help you leverage your current free and clear or high equity investment property to reinvest through cross collateralization. Put our Private Money to work for you NOW.
It goes by a lot of different terms. You’ve probably heard it referred to as, “Private Money,” “Equity-Based Financing,” “Bridge Financing,” or “Creative Financing,” and for the most part, they all mean the same thing.
It’s non-traditional financing that relies on the property’s merits, rather than your personal qualifications. These types of loans are often secured by a note and deed of trust in first lien position on the property.
This means, if you have a great deal, you can find the money to do the deal and Blue Oceans Funding wants to be your funding source!
Because the funding process will most likely go quick once you begin and because the loan will be secured by the property in question, the most important thing that needs to be done first is finding and securing the property you want to invest in. Without the property being under contract, the lender will not want to invest time in working with you without a specific property to work with.
There is this misunderstanding that the only people who use hard money (or OPM) are the people who have bad credit, bankruptcies, short sales, and foreclosures on their record and can’t get access to cash any other way. While this is true in some circumstances, many very successful real estate entrepreneurs use hard money each and every time they buy a property.
Why would real estate investors with liquid and sizable cash reserves on hand still prefer to use OPM (Hard Money Loans) every day of the week? Why would heavy-hitters, with gobs of personal cash, regularly use OPM?
Habitual, hard-core Deal Makers understand that if they leverage their own cash reserves, they simply tie up their own money for 6-12 months. This makes it impossible to buy more properties based on the amount of money in their bank accounts, which serves as proof that they can service loans on varying cash-flowing properties.
By leveraging OPM, they keep their own money liquid, which means they can do more deals, more often!
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