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[Podcast #87] 10 Reasons to Use Private Money instead of Hard Money
Jay and Chaffee talk about the importance of Private Money. Jay talks about the different categories of Private Lenders.
1) The interest rate is a lot better for Private Money.
2) Origination fee or Points,
3) Extension Fees
4) Length of the note
5) Downpayment, Cash out and Equity vs Cash
6) Multiple checks on all transactions
7) No credit check
8) Verification of income
9) Number of simultaneous deals
10) Loan position
Bonus reason!
11) You make the rules
Private lenders can be anywhere.
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