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Contact Private Money Lenders for Personal Loans to Get Capital for Your Real Estate Investment Property
Do you want to invest in a pre construction property in Seattle but you cannot raise all the required capital? Do you need financial help to venture into real estate investment? Then you need to learn about real estate financing before venturing into real estate investment. There are many sources of financing for real estate investors. However, not all of them might be ideal for you.
Traditionally, people have relied on banks and other financial institutions to get funding for real estate investment. However, there are times when banks and such institutions might not help you. For instance, some banks will not finance you to purchase a rehab property so that you can fix it and they sell it to enjoy the profit. In such a case, you can opt to seek funding from other sources.
Contacting private money lenders for personal loans
If you have a limited amount of capital that you want to invest in real estate, you can consider augmenting it with a personal loan from a private lender. Finding and getting approval of a private lender is easy. The lender will give you a loan with ease because their approval process is easy. Today, you just need internet connection in order to complete the application and approval process.
Most private lenders have website via which you can apply for a personal loan. To get a loan to finance your investment in real estate property, you just fill a short form with personal data, bank information and work information. Even if you do not have a good credit, there is no need to worry. Bank statements, tax forms and credit checks are not among the requirements of most private lenders. Simply ensure that you fill in the required data correctly. Avoid errors that include misspelling names because this might delay your application and approval process.
Most private lenders require you to have a proof of your recurring income. This shows that you are capable of paying back the loan. You can use your utility bill under your name or a paycheck. There are lenders who will require you to screen grab or scan your document and send it to them.
The basic requirements are:
ü Must be 18 years old and above
ü Gross income of about $1000
ü No case of bankruptcy
ü Be a resident of the state where you apply from
If you want are interested in a real estate investment property but you do not have adequate capital, consider getting a loan from a private lender. It will take you a simple process to apply and have your loan approved.
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