Our last column sure brought in a ton of calls and emails. In that column, we explained how last month we found, closed and financed a home in just three days by knocking on sellers’ doors – and didn’t use any of our own money. (You’ll find that column on our website titled, “What’s Old is What’s New.”)
Here are the most common questions we were asked: What is a private-money lender and how do you find them? Why do private-money lenders lend to you? How are private-money lenders secured and paid?
More than a decade ago, Kim and I learned that a bank wasn’t the only place to get a mortgage. ...