Those who have followed this blog know that one of my goals for my real estate investments is to have $500,000 of funds available to finance real estate purchases this year.
To date this is what I have secured:
$20,000 cash
$8000 in a self-directed IRA
$150,000 hard money line of credit
$40,000 HELOC on my lease-optioned property
I have rented a room at a hotel to pitch "private money" loans at the end of February. These are loans secured by real estate which I offer the lenders 10% interest rate. I have a Power Point presentation prepared and just need to advertise the event. If anyone is interested in learning more email me and I can send you information.
I read an article in today's paper about a company called prosper.com which is a peer-to-peer lending concept. The loans are unsecured. I have registered and will see what kind of interest rate loan I can get through them.
I have also been told by CPC that they will finally review my application Feb 15th.
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