Clay Sparkman One of the most notable advantages of using private money to source your borrower’s projects is that it allows for creative problem solving due to the flexible nature of the beast. In particular, there are a number of ways that one can often make a private money transaction work, on any given project, […]
Posts Tagged ‘hard money loans’
Traversing the private money path
Thursday, June 6th, 2019The following is a re-post of a good article in The Scotsman Money Guide (2016), providing a road map through the private-lending landscape, for brokers and borrowers: Here By the way, if you do not already use The Scotsman Money Guide (either the online or paper version), I highly recommend it as an excellent guide […]
Construction and rehab loan proposal
Friday, May 17th, 2019Clay Sparkman We have run this program on several occasions, and we are so excited about this specific niche that we are going to run it again in honor and celebration of summer. As a private money construction lender, we’re able to provide a variety of creative solutions that are just not available via more […]
Home rehab season is here
Friday, April 5th, 2019S. Clay Sparkman Once again it is spring, and that means that its time for the builders season to get underway. We finance new construction, but have also done a great many small rehab projects over the years. The numbers indicate that rehab activity is down generally over this past few years. If I were […]
Sunshine and hard money
Tuesday, March 19th, 2019Clay Sparkman Summer is just around the corner! In the Pacific Northwest, that means it is time to play–or for those who are investing in real estate projects, perhaps the reprieve from the rain means that it’s time to get to work on purchase and rehab projects. As much as 80% of the loans that […]
Top ten reasons to consider using a different source for your private money loan
Friday, February 8th, 2019Clay Sparkman I posted this years ago. Being Friday and all, I figured it would be nice to have a laugh. Enjoy! I remember when I first came into this business 25 years ago, the general attitude toward private money–and private money lenders and brokers–was quite negative. And to a certain extent, the reputation was […]
Rehab and construction loan FAQ (revised)
Friday, January 18th, 2019Clay 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. […]
Promotion: December new broker special
Friday, December 7th, 2018S. Clay Sparkman As December typically slows down, we often find ourselves torn between (a) just enjoying the holidays, and (b) keeping the business up and running at an acceptable level. (I’ve been through 24 holiday seasons with Fairfield, and it seems like it is always a challenge figuring out how to strategically approach December.) […]
Using a private money option
Monday, November 26th, 2018S. 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 […]
Promotion: Quick flip loan special extended through end of 2018
Wednesday, November 7th, 2018Clay Sparkman Quick flips, rehabs, temporary acquisition loans, short sales, and bridge loans are among the many short-term loans that we most like to do. Until now, we have made many such loans, and we have done so as follows: 5 points, 12-13% interest (on most loans), a one-year term, and with no prepayment penalties. […]
