Private Money with Susan Flanagan

<p>What you’ll learn in just 17 minutes from today’s episode:</p> <ul><li>Learn why not to proceed with a joint venture at the beginning and go for private money instead </li> <li>Find out about the pros and cons of different refinancing options </li> <li>Learn what private lenders are primarily used for, especially to real estate entrepreneurs and investors </li> </ul> <p>Resources/Links:</p> <ul><li><a href='http://www.privatemoney4mortgages.com/'>www.privatemoney4mortgages.com</a> </li> </ul> <p>Summary: </p> <p>Susan Flanagan has been investing in real estate for well over 25 years, and has done everything from regular buy and holds to student rentals to rent-to-owns, as well as many flips. She started lending her own money for mortgages over 12 years ago, so it was a natural progression to eventually become a Mortgage Broker so that she could connect lenders with borrowers on a regular basis. She is still an active investor but mainly focused on private lending these days. Susan is known as the “go-to person” when it comes to Private Money Lending. </p> <p>In this episode, Susan shares what a ‘private money lender’ is and how useful these lenders are to real estate entrepreneurs especially when investors don’t qualify for a bank mortgage. With a private money lender it’s fast and not much of a hassle. </p> <p>Topics Covered: </p> <p>01:30 – What is private money lending </p> <p>02:09 – Is there any difference between private money lenders and hard money lenders </p> <p>05:28 – What are the advantages and disadvantages of using different refinancing options </p> <p>08:03 – What do they need private money for  </p> <p>08:33 – How to qualify for a private money loan </p> <p>09:33 – When do people usually use private money for first mortgages </p> <p>11:35 – Why do people get on JV partners at the onset when they could go through private money lenders </p> <p>12:51 – A logical reason as to why go for private money lenders rather than JV right away </p> <p>Key Takea