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Private funds are "cash" A Good Idea?

Cash.

I like it. A lot.

So should you.

And I like to walk away from closing of real estate you can with it in my pocket. That's the whole point.

However, certain situations arise with the collection private money, which may not be the best idea to "charge". This is what I mean:

• Buying price of $ 100,000

• Property needs $ 20,000 in Fix-ups

• Est Price: $ 180,000

• You get: $ 140,000 in private money

• $ 140,000 private money in a lower cost based on $ 120,000 property = $ 20,000 surplus of private money.

• LTV: $ 140,000 / $ 180.000 = 77% (a little high, but not unfair).

What to do with $ 20,000? Hmm …

Hawaii Vacations?

Casino?

Lottery?

Ok … Back to reality …

There is a school of thought that says you can put it in your pocket. After all, you borrowed against a property, so you should be able to do what you want with it, right?

Incorrect.

If private lenders (in this case) do not know how their funds are allocated, you are not doing well. You must disclose to investors where money is at all times.

However, if signs of investors out of or is aware that he is going to pocket an additional $ 20,000, click OK. Some investors do not care about the top charge at the beginning of the offer, if the LTV is reasonable and careful investment.

What is the problem with this anyway? How is that not much to make a withdrawal to refinance with a bank loan but with a private investor?

Two reasons:

1. Disclosure – must disclose to your investor where their funds are being placed.This is just good business practice and necessary if you want to win a reputation that will net you seven figures (or more) in the sums of private money

2. The banks are not paying their hard earned money – they are paying money created from nothing for the money "deposit multiplier effect of fractional (Part of Book Federal Bank), which are providing money and shareholders are paying depositors' money. The decision of the bank loan should be very different if their loan approval committee members were paying their own funds rather than someone else. You can not think of private investor and the bank in the same context. One is an institution, the other person.

And here is the reason special bonus # 3

Downside protection. Returning to our example, suppose you were not able to sell the house for $ 180,000. Perhaps assessment of the gods did not like the house. Who knows.

So there to sell the house for $ 160,000. Well, that's still not bad. $ 20k profit after paying back the lender. But the costs, we forget … Assistants property. investment costs, taxes, etc. is never a good idea to run your investment property near the red "line." There is a cemetery investors complete the excess loan money private investors are now driving semi-trucks and wondered what hit them.

Levante private money you need (including a mattress), but no more than one project can handle. It is better to take that $ 20k extra and invest in other property

About the Author

Adam Davis is a real estate investor, author, speaker and founder of Ultimate Private Money. He teaches real estate investors how to raise capital from private investors. Adam has completed hundreds of real estate deals- from single family house flips, lease options to apartment buildings, land contracts and hard money loans – all with none of his own money. All told, he has raised millions of dollars from private individuals to finance real estate deals. For a FREE audio program on how to get private money go to: http://www.UltimatePrivateMoney.com.

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