Be a Lender for Detroit Real Estate Investments
Michigan real estate lenders have been in existence since a long time ago especially when it comes to investments purposes. They’re one of the key factors that enabled the motor city’s commerce & trade to bloom significantly by providing more people with a way to afford their dream house or jump start their journey to investing in real estate then growing their portfolio along the way.
According to US NEWS LOANS, Michigan has one of the best private loan deals with no signs of slowing down in terms of ROI (return of investment) for lenders. Due to the nature of today’s real estate industry, having the money you need at a moment’s notice is critical for investors who are in the market for a good deal. That said, banks and other traditional lenders ask for too much paper work and the process is very lengthy so by the time you get it all done, the house you were aiming for would have been sold to someone else already. Private lenders have always been the ones to enable quick cash-out for investors which paved the way for a lot of the big-names now to buy the property they want and get started in their REI careers – all of which are done in a matter of days. So, what are you waiting for? Get started with us now!
The 5 C's of Lending
- Cash Flow
- Credit Worthiness
The 5 C’s aren’t limited to the banks and big lenders – these traits are important to private lenders too. The main difference between banks & lenders is simply the level at which they accept the proof that you will be able to pay your loan.
Common documentations needed for a loan are the following:
- Lender Letter
- Requirements of the IRA (if necessary)
- Promissory Note
(with the exception of the IRA requirements, we handle all the paperwork for you. Contact us now to get started and be one of the most successful lenders in town)