Private vs Hard Money EXPLAINED

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Private vs Hard Money EXPLAINED

In this video we discuss the difference between private money and hard money lenders.

Hard money and private money are both types of alternative financing that can be used by real estate investors. Here's a brief overview of the key differences between the two:

Hard money:

Hard money loans are typically provided by private individuals or companies who are willing to lend money secured by real estate.

These loans are often shorter-term, typically lasting from a few months to a few years.
Interest rates on hard money loans are generally higher than those on traditional mortgage loans.

Hard money loans are often used by investors who need to close on a property quickly and don't have the time to wait for a traditional mortgage loan to be approved.

Private money:

Private money loans are also provided by private individuals or companies, but they are typically used to fund real estate investments.
Private money loans may be longer-term than hard money loans and may have lower interest rates.

Private money lenders may be more flexible in their lending criteria and may be willing to consider non-traditional credit histories.
Private money loans can be used to purchase a variety of properties, including residential, commercial, and land.

In summary, hard money and private money are both useful options for real estate investors who need alternative financing. However, they have different terms, interest rates, and uses, so it's important to carefully consider which type of financing is the best fit for your investment goals.

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