Looking for funding to flip houses in the Atlanta area. Trying to find a private money lender to get this going. Need help!!!
Where have you tried thus far?
There are some $7Trillion of funds available in qualified money (pensions/profit sharing plans/IRA’s/Keoghs/etc.) earning small amounts of returns or perhaps even being ‘churned’ by securities dealers.
One might consider learning about ‘self directed’ plans and trusts where the account owner can write a check to buy a mortgage or note in one or more real estate projects. A couple that come to mind might be Fidelity Bank (their pension department is in your town on Piedmont Road) or Equity Trust (formerly Mid Ohio Securities) who have trusts documents permitting such investments…there are many more available if one did research.
Although their transaction fees are a bit higher, many investors prefer this as they can invest in notes, mortgages, and real estate investments this way where the potential for returns is far beyond a typical retirement investment (such as an annuity, c.d., and the like).
A Real Estate Investor can establish a trust document (with it’s own tax i.d. number) and share profits of the trust with an investor who funds the trust. Then the investor has the funds to buy/fix/re-sell with confidence.
Hope this helps.
Rob in Atlanta
Hey Thanks for this but can you tell me about private money loan and there is need of documentation process while taking loan against real estate.
I have found the easiest way to get financing was to get my credit in order and get personal and business funding. The lines of credit that I now deal with are now allowing me to do my own deals without having to rely on other people and pay outrageous fees…
I would look at going that route if I were you.