Fairfield Financial Services, Inc. - Private Money Loans, Lending & Borrowing

Fundamentals

Using a private money option

Monday, November 26th, 2018

S. Clay Sparkman
Just about every broker should have a private money option to go to. Here are a few quick tips on how to get that going.
(1)   Find a Lending source that you like and trust. Also, make sure that they will work with you, guiding you through the process AND giving you quick feedback [...]

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House flipping wisdom worth noting

Wednesday, August 16th, 2017

Clay Sparkman
I try to keep an eye out for good information on the status of property flipping. Here are a few things that I have come across recently.
With regard to the best cities for home flipping (as of May):
The 25 Best Cities for Flipping a House
Taylor Tepper at Money
May 25, 2017
http://time.com/money/4784913/house-flipping-best-25-cities/
Another article of a [...]

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How to Make Offers That (Nearly) Guarantee You Can’t Lose

Wednesday, December 28th, 2016

Clay Sparkman
I recently came across this article,  How to Make Offers That (Nearly) Guarantee You Can’t Lose by Sterling White, and felt that it would be worth sharing on this blog. I can’t tell you haw may times I have had investor-Borrowers come to me looking for a private money loan and when I asked [...]

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Ask an Investor

Wednesday, December 21st, 2016

Clay Sparkman
I came across the following blog posting by Jersey Digs, and felt that it would be worth passing along to interested borrowers and brokers:
Ask an Investor: How did you get started? How do you make money?
I hope you found that to be useful. Any feedback would be much appreciated.
If you would like to discuss [...]

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Rehab and construction loan FAQ (revised) – a blog

Thursday, December 15th, 2016

Clay Sparkman
Here is an updated version of Fairfield’s Rehab and Construction Loan FAQ.
One of the most promising areas, at the moment, for real estate investors and brokers, by all indications, is REO, rehab, and quick flip of properties. The opportunity to buy distressed properties at a low price point is evident in many markets.  And yet [...]

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The art of the summary

Tuesday, July 5th, 2016

Clay Sparkman
The Art of the Summary
Between phone calls, emails, and on-line submissions, we receive a tremendous number of loan requests. It’s pretty common for these loans to have tight deadlines, so here are three ways to speed up the process.
1)      Use the on-line proposal form and provide all the applicable information.  This form can be accessed [...]

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Private money loans – a broad perspective

Monday, June 27th, 2016

Clay Sparkman
I came across this article, Private Lending Presents Opportunities for Investors by Jeff Brown, in US News. It gives a very broad perspective on private money lending. For example, it includes references crowd-sourcing and unsecured loans. I thought it might be worth sharing with you all, as you contemplate your options for non-bank loans.
Here
Check [...]

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Our sweet spot: Rehab and Constrcution loans

Thursday, April 21st, 2016

Clay Sparkman
One of the most promising areas at the moment for real estate investors and brokers, by all indications, is new construction, REO, short sale, rehab, and quick flip properties.  The opportunity to buy distressed properties at a low price point is evident in many markets.  And yet it is difficult for most end-buyers (with [...]

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Guest Post: Private Lending—Turning Trash Into Treasure

Monday, November 30th, 2015

Clay Sparkman

I came across this blog post by Jeffrey Tesch recently. It was originally posted at cpexecutive.com on October 19, 2015. After working to articulate the various practical issues of private money for many years, I felt that it would be nice to offer a fresh voice/perspective on the matter. I contacted a representative for [...]

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Fairfield Financial – getting to know us

Thursday, March 20th, 2014

Clay Sparkman
I am often asked to give potential brokers or borrowers a run-down on Fairfield Financial. What kinds of loans do we do? What is our process? What is our tme-line? what are our terms? That kind of thing. Verbally it takes a good hour to cover all the basics, so we at Fairfield have [...]

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Private money – another perspective

Thursday, August 22nd, 2013

Clay Sparkman
I thought this was a nice piece on private money and finding sources, by Brian Kline.
How to find Money Partners for Real Estate Investing
As the real estate markets are improving, the opportunities revealing themselves, and the bank rates coming up–it seems like private money is becoming, once again, more relevant ever day that passes.
Let [...]

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The language of private money

Wednesday, July 10th, 2013

Clay Sparkman
This post was first published on this blog on 7.20.10. Occasionally I go back and look for high value posts, knowing that either new members were not there when they were originally posted, or that long-time members may have missed them on the first run. This is one of those posts that I feel [...]

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Flexibility and creativity: the beauty of private money loans

Monday, June 17th, 2013

Clay Sparkman
This post was originally published on this site on July 6th. 2010. I feel that the information within is so important to a full understanding of private money flexibility and creativity, that I modified the document, bringing it up to date, and am publishing it here now once again.
Our private money lending programs tend [...]

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About hard money loans

Monday, May 20th, 2013

Clay Sparkman
There seems to be a lot of mysticism and confusion surrounding exactly what is meant by private money loans (also referred to as “hard money loans”). The boundaries have blurred a little in the past 10-15 years, but the basic idea of private money lending is that private individuals who have money to invest [...]

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Some private money blogs which look pretty good to me

Wednesday, April 10th, 2013

Clay Sparkman
If you read this blog regularly, you will know that I am pretty much constantly scanning the internet for resources and materials that might be of value to my readers. Recently I came across several private money blogs that look to be quite good. I’d like to share those with you.
The first blog is [...]

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Loans we are placing – example

Monday, April 8th, 2013

S. Clay Sparkman
Every now and then I like to present one of the loans that we have placed or are in the process of placing, so that blog readers can see (a) the types of loans that we are placing, and (b) how we feel that loans should be presented. Keep in [...]

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How to read an appraisal

Tuesday, March 26th, 2013

Clay Sparkman
This article was originally published, on this blog, on 8/9/10. 2 ½ years later, I feel it is worthy to be modified slightly and published again. Whatever you do in the real estate business, I highly recommend that you give this post a good read.
The most important thing that you must understand about any [...]

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What exactly do you want me to do for you?

Monday, March 11th, 2013

Clay Sparkman
When evaluating loan requests, this is the fundamental question:  what exactly do you want me to do for you? It is impossible to count the number of times that I have receive loan packets or proposals that didn’t include a loan summary or any clear description of the request.  The process of evaluating a [...]

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Private Money FAQ

Monday, January 7th, 2013

Clay Sparkman
I try to update and publish this FAQ every once in awhile, as it is a handy guide to better understanding the market for private money loans in general–and more particularly, how we operate here at FFS, by way of example.

Private money is often misunderstood. Many industry professionals know very little about [...]

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Private Money – The Rules of Physics May Not Apply

Wednesday, December 12th, 2012

This article was published in The Scotsman Guide as “2 Private-Money Myths: Debunked” back around the time when the sub-prime market was just beginning to collapse.  I thought it might be of interest to some of you on this blog, and so I’m posting a slightly different version here.

Clay Sparkman

I would like to make [...]

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