Posts Categorized: Credit Tips

Why Private Money Lenders are a Great Way To Finance Property

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Why private money lenders are great for investments or property

Most of us at some time or another have considered the benefits of buying investments or buy-to-rent properties, either to raise cash or as part of a longer-term investment strategy. However, most of us do not have the expertise, capital, or income to be able to take the first step on the ladder. Banks and other corporate lenders will not provide money because you will fail their income-to-debt ratio tests, or perhaps you have a justifiable fear of moving to other capital sources feeling that they are somehow less reputable or more expensive. Another good reason is employment status. Many traditional lenders will not make advances to…
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Don’t Make These 7 Personal Loan Mistakes

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Don't make these 7 mistakes with personal loans

At some point in your life, you will probably be applying for a personal loan to finance your dream home. However, it is important for you to be extra careful when applying for a personal loan. There are a few common mistakes people make that end up jeopardizing their financial status. Let’s have a look at a list of seven common mistakes that people tend to make while availing a personal loan, or an installment loan. 1. Grabbing the first loan that is offered Since an individual loan is an unsecured loan which does not require you to provide collateral, the rates of interest are…
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8 Ways to Boom Your Business with an Unsecured Business Loan

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8 Ways to Boom Your Business with an Unsecured Business Loan

Businesses require funds to finance their operations. Finances to fund businesses are not readily available due to unfavorable changes in the world economy, such as recession and inflation. These factors make lending a very expensive affair. As an entrepreneur, you must come up with ways of getting funds to finance your activities at a very low or no cost. The following are ways in which an entrepreneur can finance their business with unsecured business loans. 1. Unsecured loans This is a crucial source of funding as it cushions the owner of the business against the risk of closing down when the funds to finance operations are drained….
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How to Track Your Expenses When Flipping a Home

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Costs can add up fast when flipping a home for a profit. Keep track of all your expenses with these tips to preserve your profit.

For motivated individuals, fixing and flipping houses provides a unique opportunity to transform an outdated home into a money-making venture. However, making money flipping houses is no easy undertaking. In most cases you’ll find yourself fighting a tight schedule and even tighter budget that demands speedy turnaround.  There’s a reason it’s called flipping. You can reduce some stress, of course, with assistance from private money lenders in California, Texas, or New York.  However, you still need to stay on top of your timetable in order to earn the greatest profit. In addition, you have to do all you can to avoid going over-budget. This can…
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How to Secure a Small Business Loan

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Whether you need money to launch your small business or short term capital infusion to help get over a slow season, a small business loan could help.

As long as there have been people striving to better their lives, there have been lenders willing to give them a leg up – in exchange for repayment with interest. If you want to purchase a family home but your credit isn’t top tier, you can still find home loans with bad credit. If you’re buying your first car and you have a sizeable down payment, you can get financed for the rest. Or if your dream is to fix and flip homes for profit, there are hard money lenders in California that can help you to reach your goals. What about starting or managing…
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How to Get a Home Loan With Bad Credit

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You can still find a mortgage for your home even with bad credit, but you'll need to look at alternative sources of financing.

It is truly disappointing that basic classes in finance and accounting have yet to be added as mandatory coursework for our nation’s high schools or colleges. When it comes to preparing America’s youth for life in the adult world, lessons like managing accounts, balancing budgets, and building credit are paramount for financial success. And yet, we release youngsters into the world without so much as a single lesson pertaining to saving money, spending wisely, and properly utilizing credit in preparation for the future. The end result, as expected, is a lot of adults trying to dig themselves out of debt and learning the hard way…
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How to Overcome Common House Flipping Issues

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House flipping may seem like an easy way to get rich fast, but there are many factors that can throw your plans into chaos.

Flipping homes is big business in America and can be fairly rewarding when done correctly. A lot of people jump into the industry without knowing much about the technicalities, however. Magazines and shows make house flipping seem rather easy, but there’s much more to flipping houses than simply buying and selling. And unless you’re rich, you’re going to need loans to help fund your flipping venture. Some people have had financial issues in the past, so naturally they are worried about being able to obtain home loans with bad credit. Today, you can find a lot of bad credit mortgage options, making buying a home with…
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Benefits of Private Lending and Hard Money Loans

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Consider taking out a loan with a private lender instead of with a bank to save you time and money.

Unfortunately, not everyone on this earth is qualified to receive a loan from the bank. A history of bad credit, no credit and high debt in your portfolio can really stack the cards against you, lowering your chance of being approved by most financial institutions. So what should a person do if they can’t receive money in the “typical” way? Those that often have a hard time borrowing money often turn to private lenders which are also referred to as hard money loans. So what exactly are the benefits of private lending? Glad you asked. Read on to learn the benefits of private lending and…
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Paying debts doesn’t always help your credit score

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credit score

It is generally accepted that if you pay off your debts, your credit score will go up. This is believed because it makes sense logically. If you pay off a debt, you owe less and you are more able to handle your other obligations. However, there are some instances where paying a debt actually hurts your credit score. Here’s why. When you have a collection account or a judgment on your credit report, the impact it has on your score is directly related to the age of that account. Unfortunately, when there is any activity on those types of accounts, they are treated as if…
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