So if you plan to purchase a property, do some renovations, and then sell it for a profit, private lenders might be just the thing for you. Do you want to ask family and friends for financial help? Or do you want to keep things strictly business and stick to private lending companies?Įither way, keep in mind that private lenders usually stick to real estate transactions―especially those that involve flipping a property. With that being said, you’ll need to figure out what kinds of private lenders you’re interested in. These big differences can make it hard to talk about private lenders as a group, since the different types vary so widely. There’s a big difference between a family member loaning you $5,000 and a private lending company lending you $500,000. Some private investors loan money as a one-time favor, while others do it as their full-time business. So your private lender could be any of the following:īasically, it can be anyone with an interest in real estate investing.Īs you can see, the definition of a private lender includes a pretty large spread.
That can include individuals or companies. At the most basic level, a private lender is anyone who gives you money that’s not a traditional financial institution (a.k.a.
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