Opportunity In Becoming A Private Money Lender
To find a good opportunity to lend.
What constitutes a good opportunity to lend?
There are a couple of things you as a private money lender can do to be sure you’re getting the best possibly opportunity to lend on. This takes a few factors that are controllable, and then mitigating the rest that may not be as much. The idea is to make sure that you have the best possible scenario available to earn interest income.
First Make Sure You Have Your Finances In Order
Before you can begin to take on external interest only income investments you really need to be sure you have enough room to make this type of investment. As much as this is a rewarding investment tool to get into, it does have its risks. In doing your own due diligence at home first, you have the greatest opportunity to maximize your investment.
Next Make Sure You Have The Right Financial Tool To Make It Work
There are a lot of ways you can make investments and professionals that are more than willing to take control of your money and put it to good use. That said, if where the money is stored, withdrawn and deposited to or from is not “protected, you stand to lose as much as you gain; in some cases, even more. Find out what financial tool is best to store your hard earned money. It may make sense to use a Money Market account, or as is the case with many of our investors, a self directed IRA is best. Whatever your choice you will want the right professional to help guide you through that process. If you’re not sure who to talk to about those things we have a few pros we can send you to that are licensed and vetted by HMCG.
Now Find Your Risk Tolerance
This is one of those things where you sit down and write out a list of investments that you can think of in the private money lending realm and place a check mark next to the ones that you actually feel good about. Let’s say you look t Single Family Residences, and you think it a good idea. You then place a check next to it. That means when someone brings you a deal like that, you will take the time to go through it, investigate it to your best ability or through your broker’s intel gathering, and you make a decision based on what facts have been gathered and how much risk you are willing to take.
Make Your Choice And Get To It
Now that you’ve figured out what you’re willing to risk, what you’re going to use to store and invest money with, and what you’re willing to invest in, (homes, buildings, etc) you can begin to look at opportunities that can earn you greater return. Making sure that you have the right investment in your portfolio isn’t rocket science if you have the right “team” in place. We here at Hard Money Capital Group have the experience and the know how to vet and create the right opportunity for both borrower and investor to earn the best income on both sides of the equation.
If you’d like to learn how you can do more with your investments or need a referral to a professional that can help you find the right tool for investing, give us a call at 800-900-8569 or email us at email@example.com.
Become A Private Money Lender With Hard Money Capital Group
This article was written by Michael H. Kaleikini, President and Chief Operating Officer with Hard Money Capital Group . Hard Money Capital Group is the number one premier private money lender in the United States. No private money loan is too small nor too large. If you are interested in becoming a private money lender, please contact Michael Kaleikini at 702-902-3120 or email Michael Kaleikini at firstname.lastname@example.org.