Creative Financing Needs somebody Money Partner (Parts 2
And this competition ultimately benefits the customers. You can look and search for the money lenders who offer lower rates. However you need to take care that the person you are dealing with is a genuine one.
The application itself takes from 5-10 minutes, so you can apply during your lunch break if you have a computer handy. You can hear back via e-mail in a minute or two in most cases, so you aren't left hanging trying to figure out if the rent can be paid on time or not.
Call your licensed moneylender credit card company and let them know that you would appreciate a lower interest rate. If you are a good customer with a history of timely payments, this tactic works very well. Sometimes, you need only ask. Other times, you might have to politely inform your creditor that you've been offered a better deal by one of their competitors. Credit card companies are currently feeling the financial squeeze. Due to the mortgage crisis, unemployment, and looming economic woes, they've had to write off a record amount of bad debt. They won't want to lose your business. If your card company knows that you're investigating other options, they will be more willing to negotiate. If all else fails, go to your bank and request a low-money management definition. Use it to pay off your credit cards.
This is basically what I know about private money versus hard money. There are some major differences but the main purpose is to have good connections and building up good relationships amongst each other to get complete funding for your deal.
These days, there's a lot more choice out there - not just the usual local banks. Look at credit unions, building societies, community banks, boutique and online banks. Chances are you may get offered better interest rates or lower fees than the big banks because these new providers are anxious to win business or they are non-profit organisations. We put this theory to the test. We tried HSBC and came up with 5 different types of credit card.
Use a credit card if you are traveling abroad. Using a credit card eliminates the need to convert currency, and your credit card company usually can obtain a better conversion rate than you can, even at your own bank. U.S. credit cards can even be used at ATMs abroad to get cash in the appropriate currency.
To do deals like this you need to go through several steps. First of all you have to get set up with a hard how to save money as you cannot get a normal mortgage on a house in disrepair. You need to see what homes are listed for in your area and figure that when you fix it up you want it to be nicer and cheaper than all other equivalent homes on the market for that neighborhood. Working backwards from the price you could sell at to undercut the market, take out the repair costs and pad it by at least 50% for unforeseen costs(always there) and then subtract your expected profit and holding costs(interest), realtor fees(if you use), advertising and more.
