Today I end the series of articles that I have been sharing with you regarding ourprivate lending FAQs. Over the last several weeks I shared with you all of the FAQs that I typically answer and how I answer them.
For our Real Estate Investor Bronze Members, you can also see some of the resources that we have on the Real Estate Investor Wiki relating to:
- Private Money
- Private Money Presentation
- Raising Private Money
- And much, much more…
The last question that I usually answer is how to get started as a private lender with us. For this question, I usually give potential private lenders my contact info and I schedule a time to meet with them (or talk to them on the phone if meeting is not practical).
So, that’s it. I hope you enjoyed the series and, better yet, I hope you implement your own system so you can raise private money for your own deals.
Until my next post,
James
In this post, I continue to provide you with sample answers to questions you will likely need to answer if you are raising private money to use with your own deals. Today, I will be sharing with you the answer to the Private Lending FAQ of: Who pays the closing costs when I lend you money?
Here is my answer:
Just like when a bank makes a loan, they expect the buyer or the seller to pay the closing costs. It is no different when you are the lender, either we as the buyer or the seller of the property will pay the closing costs.
As a private lender, you will never have to pay closing costs.
Until my next post,
James
