Clay Sparkman
I thought that this recent article in The National Real Estate Investor would be worth sharing with the private money investors in this group. It certainly rings true with those of us at Fairfield, as we have had to work with our investors to adapt our programs and strategies to a changing market (becoming more competitive in whatever ways possible without generally taking on a significantly greater deal of risk).
Our median rate has dropped from 13% to 11% and we are more flexible on points. I also feel that we should consider lending up to 70% LTV for strong loans. (Currently most of our loans are at 65%.)
Please weigh in and give us your opinion on any of this.
Thanks,
Clay
– Clay (clay@privatemoneysource.com, 503-476-2909)
Clay is Vice President of Fairfield Financial, a primary source for private money loans since 1964. Fairfield works with a broad range of private money investors, in a broker capacity, finding, underwriting, presenting, closing, servicing, and when necessary, assisting in the workout of difficult loans.
Tags: economy, hard money investing, hard money lending, hard money loans, Multifamily, private money investing, private money lending, private money loans, real estate investing, real estate rental, trust deed investing, trust deed loans
