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Rainmaker
1,048,486
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Speed, no credit checks or major loan apps. I've used seller financing, rent to own and Hard Money for 3 of my investment properties when I was in my 20's.

Jan 25, 2017 07:56 PM
Ambassador
1,706,708
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Helping the private investor to make more money off of you because you can't go traditional financing.

Feb 24, 2017 08:49 AM
Rainmaker
4,798,831
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Possibility of getting a loan with a low credit score.

Jan 29, 2017 06:10 AM
Rainmaker
1,306,432
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Speed, flexibility and fewer hassles.  But you pay for that.

Jan 26, 2017 12:13 PM
Rainmaker
5,882,674
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Some prospects do not qualify for institutional financing.

Jan 26, 2017 03:20 AM
Rainmaker
3,985,581
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

They may take a lower credit score, but otherwise, I have not seen a great advantage

Jan 25, 2017 08:38 PM
Rainmaker
583,575
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

It can be much easier than a bank. I network with a lot of investors that use "hard money lenders" to purchase, particularly on larger commercial properties.

Jan 25, 2017 08:36 PM
Rainmaker
1,506,571
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

If you need money quick or/and for a short time, the hard or private financing would be a convenient choice. 

Jan 25, 2017 06:24 PM
Ambassador
2,241,095
MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

They may be more flexible about FICO scores, etc. but usually higher on points and rates.

Jan 25, 2017 04:48 PM
Ambassador
4,754,903
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Flexibility, common sense, no govt involvement.

Jan 25, 2017 04:32 PM
Rainmaker
3,960,021
Dorie Dillard CRS GRI ABR
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

I certainly liked Debbie Laity and Jeff Dowler's comment.

Jan 25, 2017 04:28 PM
Ambassador
3,301,539
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I like Debbie Laity and Jeff Dowler approach

Jan 25, 2017 04:12 PM
Ambassador
2,209,980
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

This is generally good for those that can't get traditional funding. Although the terms should be carefully reviewed. I have seen interest only loans and very high interest rates. 

Jan 25, 2017 03:24 PM
Ambassador
4,251,456
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

The investor may be willing to provide financing in situations where the borrower cannot otherwise get credit. Could potentially close faster and may overlook issues such as low owner-occupancy levels in a condo complex

Jan 25, 2017 03:11 PM
Rainmaker
465,399
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Enabling a client to purchase when they don't qualify for standard financing.

Jan 25, 2017 03:02 PM
Rainmaker
3,056,950
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

abby tiscareno Easier to qualify, but higher interest rates.

Jan 25, 2017 01:59 PM
Rainmaker
821,950
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Close fast.

Close on non-conforming property.

Disadvantages

High interest.

You are not the real buyer.

Private lender has final say. This usually means submitting your proposal for review or modification.

Jan 25, 2017 01:39 PM
Rainmaker
775,652
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Looser credit requirements, but more expensive. Watch out for predatory terms such as 2-year bullets, for example.

Jan 25, 2017 01:37 PM
Rainmaker
3,474,365
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Higher interest rates, but can close sooner.

 

Jan 25, 2017 01:17 PM
Rainmaker
794,996
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

All of the above answers. Inability to qualify or need for short term quick financing.

Jan 25, 2017 01:08 PM
Ambassador
2,468,572
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Easier to qualify.  Higher interest rates, stricter terms.

Jan 25, 2017 12:28 PM
Rainmaker
3,480,490
Richard Weeks
Dallas, TX
REALTOR®, Broker

Faster closing time, ad more lenient credit conditions.  Their motto where there are risks there are rewards.

Jan 25, 2017 12:14 PM
Rainmaker
1,157,329
FN LN
Toronto, ON

It depends on the particular situation including both parties to the transaction and terms of the transaction.

Jan 25, 2017 12:03 PM
Rainmaker
1,411,227
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

abby tiscareno Private investors may be a little more lenient with buyers. The buy may have to pay a higher interest rate for this leniency.

Jan 25, 2017 11:45 AM
Rainer
216,835
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

Being able to get the loan or not.  However, higher rates do apply

Jan 25, 2017 11:43 AM
Rainmaker
5,387,689
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

quick closing.... lower closing costs.... fewer fees.... 

Jan 25, 2017 11:32 AM