Refinancing with Private Money

Howdy folks!

Today provided more proof that private money lenders are awesome. The second rental property we acquired a couple years back was purchased with a hard money lender. Yes, I know it’s hard to believe that we could get a net positive cashflow with a hard money loan, but we absolutely did. We tried refinancing it with conventional financing sometime last year and it didn’t work out the way we wanted it to so we stuck with the hard money loan.

Thanks to one of our private lenders we were able to refinance that property today and now we’ll cashflow $50 more per month plus be able to provide our lender with an awesome return on her investment.

Seriously…don’t sleep on this. I simply don’t know of any better way of acquiring real estate than using private money.

If this is a topic of interest for you, you may want to check out some of my previous posts:

Additionally, I’m putting my own funds to work and will be financing another short-term flip (this time it will be a 6 month loan) for an investor friend with my self-directed IRA.

I’ll tell you the truth…now that I’ve participated numerous times on both sides of the deal as a borrower as well as a lender, I can tell you without a shadow of a doubt that my husband and I will be doing way more lending than borrowing in the coming years!

In case I don’t get a chance to post before Thanksgiving, I want to wish all of you a very happy Thanksgiving! Enjoy the time with your family, friends, and plenty of food.

Thanks so much for continuing to visit my blog, share in the comments, and interact. I appreciate each and every one of you.

P.S. If you haven’t checked out my girl Steph’s Thanksgiving contest, be sure to go over there before Thanksgiving night, ok? She’s going to be doing a private training for 15 lucky contest winners (the drawing takes place on Friday afternoon) and she will be sharing all of her secrets on how she’s found cash buyers for all her deals over the years. You don’t want to miss out on a chance to learn from her and all you have to do is make a comment about what motivates you.

P.P.S. Last night I had a fun interview with one of the GoodFaithInvesting.com blog readers Roxie who hosts the Cheap Cheetah Blog Talk Radio Show. We talked about financial freedom, the ups and downs of real estate investing, and side hustlin’ while working a 9-to-5. If you’d like to listen, you can check it out here.

Tags: investment property financing, private money, private money lenders, refinancing

Refinancing with Private Money

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