If you’re like most people, the phrase “private money lending” probably conjures up images of shady characters in dark alleys handing over stacks of cash. But the reality is that private money lending is a legitimate way to finance real estate investments. And in today’s post, I’m going to dispel some of the myths about private money lending and show you how it can be a great financing option for your next real estate investment.
Commercial real estate lenders in Tampa
If you’re looking for commercial real estate lenders in Tampa, you’ve come to the right place. At Trusted Lenders, we work with a network of reputable lenders who can help you get the financing you need for your next commercial real estate project.
We understand that finding the right lender is often times the most difficult part of the process, which is why we take care of that for you. We’ll connect you with lenders who have experience lending in Tampa and who are familiar with the market conditions. This way, you can be confident that you’re getting the best possible terms on your loan.
Whether you’re looking to purchase a new property or refinance an existing one, our team at Trusted Lenders can help. Contact us today to learn more about our services and how we can helpyou secure financing for your next commercial real estate venture!
Private Money Lenders are Shady Characters
The first myth I want to dispel is that private money lenders are shady characters. This couldn’t be further from the truth! In fact, many private money lenders are actually institutional investors, such as banks or insurance companies. What’s more, private money lending is regulated by state and federal laws, so you can rest assured that your investment is safe.
Private Money Lending Is Risky
Another common misconception about private money lending is that it’s risky. But the truth is, any type of investing comes with some degree of risk. The key is to find an investment that you’re comfortable with and that fits your overall investment strategy. For example, if you’re looking for a short-term loan to finance a fix-and-flip project, then a hard money loan might be a good fit.
Hard money loans tend to have higher interest rates than traditional loans, but they also offer shorter terms and faster funding. So if you’re confident in your ability to flipping the property quickly and generating a profit, then a hard money loan might be worth considering. On the other hand, if you’re looking for long-term financing for a buy-and-hold rental property, then a Traditional lender like banks or credit unions might be better suited for your needs.
These types of loans typically have lower interest rates and longer terms than hard money loans. But because they’re not backed by collateral (like real estate), they can be more difficult to qualify for. So it really just depends on your specific situation and what type of loan best meets your needs. And remember, even traditional lenders are considered BridgeWell Capital LLC since they’re not part of the government-sponsored programs like Fannie Mae or Freddie Mac.
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