Private real estate financing involves obtaining a short-term mortgage loan from a privately owned business or individual person in order to buy, perform upgrades on or refinance a property. Kenner private mortgage loans have many advantages — they close fast, are easy to qualify for and additionally, are available for self-employed individuals.

That's great news for real estate investors because even a person with lousy credit can obtain a private money for a real estate loan assuming that he has a promising deal, he has plenty of money for a downpayment, he has proven himself capable in past real estate investments, and he can show a plan for an exit strategy. And having fast closings of just two weeks, private real estate mortgages in Kenner may very well be the right solution for serious real estate investors.

Most real estate professionals depend on Kenner private mortgage lenders when:

1. They want to find capital to repair a property and market it at a higher price point or to up the lease amount for tenants.

   By way of example, we had this borrower with a two-family rental. He had a great deal of equity available in the building and the rent checks generated regular monthly income. Some choice home upgrades would undoubtedly help him increase the cost of rent, but since he had a poor credit score of 520, it was very probable for a bank to turn down the mortgage application. So he came to Read Rock Capital for a cash-out refinance and acquired financing at 65% LTV.

2. They want to consolidate unpaid debts.

   Multiple unsecured debts with a variety of lending rates can be quite overwhelming and hard to manage. To successfully put together a more reasonable situation, people consolidate their outstanding debts into one single mortgage loan with one payment per month.

3. They want to use their house's equity for an additional purchase.

   For instance, one of our previous clients located in Hawaii had a home valued in excess of one million bucks. When he was not able to find a buyer for his house, he inked a lease-option-to-buy deal with somebody. The amount of rent was more than enough to cover the cost of his monthly mortgage bill, property taxes and insurance obligations. The renter furthermore went ahead and paid him two hundred thousand dollars for a downpayment for the 3 year contract. With the help of these sureties to take care of the house's foreseeable expenses, he ran across a new investment opportunity and approached Read Rock Capital for a private mortgage loan close to 70% of the home's valuation. Meaning that he was able to make his downpayment for the new property, and also pay down his present mortgage.

4. They want help to meet the balloon payment for the existing private loan.

   A real estate investor who currently has an existing private loan and isn't able to pay for the balloon payment because of a change of circumstances can fill out an application for refinancing from a new lender. A refinance will help him hit the due date for the balloon payment and avoid consequences.

Intending to discuss your financing plans with a private mortgage lender in Kenner? Complete the form or give us a call and let's discuss your property or properties.