{"id":361,"date":"2011-10-26T13:30:51","date_gmt":"2011-10-26T20:30:51","guid":{"rendered":"http:\/\/privatemoneysource.com\/broker-blog\/?p=361"},"modified":"2011-10-26T13:30:51","modified_gmt":"2011-10-26T20:30:51","slug":"top-ten-ways-you-know-it-might-be-time-to-consider-private-money","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/broker-blog\/?p=361","title":{"rendered":"Top Ten Ways you know it might be time to consider private money"},"content":{"rendered":"<p><em>Clay Sparkman<\/em><br \/>\nThis has been a tough four years for many of us, so in celebration of the anniversary of the sub-prime collapse, I thought it would be nice to start off \u00a0by having a little fun. With that in mind, I have prepared a top ten list, Top Ten Ways you Know it Might be Time to Consider Private Money. This is all done for the sake of laughter, so I hope you get that much out of it. It actually tends to reinforce some of the stereotypes that I work hard all year long to dispel regarding private money and private money borrowers. Still &#8211; just this one time, I couldn&#8217;t resist. Drum roll please&#8230;<br \/>\nTop Ten Ways you Know it Might be Time to Consider Private Money<br \/>\n10. The bank asks you to return the promotional pen which they gave you last month.<br \/>\n9. Your neighbor keeps throwing orange peels and egg shells on your house because they think it is a compost pile.<br \/>\n8. You are continually confusing your FICO score with your bowling score.<br \/>\n7. The Account Rep for your favorite lending institution laughs so hard that he suffers a hernia and is rushed off to the hospital before you can finish telling him about your loan request.<br \/>\n6. When figuring your net worth on a 1003, you include as assets: your karma, your winning smile, your exotic house cat Mrs. Buttons, and your $5,000 instructional video course on how to make a million bucks investing in real estate.<br \/>\n5. The bank officer repeatedly refers to your floating home as a &#8220;boat&#8221;, and insists on using terms like &#8220;port&#8221; and &#8220;bow&#8221;, and &#8220;thar she blows.&#8221;<br \/>\n4. Meth lab shmeth lab! (A true real estate investor doesn&#8217;t let minor obstacles stand in her way.)<br \/>\n3. Your down-payment consists of twelve cases of Budweiser empties, an IBM 386 computer, and a Tim Duncan rookie card.<br \/>\n2. Your timeline is so short that you are working on a scheme which involves flying an escrow team westward to the international dateline and closing the deal at 12,000 feet.<br \/>\n1. The land which you hope to borrow against is so raw that it bleeds when you stick a fork in it.<br \/>\nEven though it is likely that none of the above apply to you or your client, private money might still be a good option to consider. In fact, there are many reasons to use private money. Simply put: Institutions do the stuff inside the box (and I\u2019m not sure they do that any more), and we do the stuff outside the box. The banks don&#8217;t get on our turf and we don&#8217;t go on theirs. We figure that&#8217;s a pretty good arrangement.<\/p>\n<p style=\"padding-left: 30px;\">\u2013 Clay (clay@privatemoneysource.com, 503-476-2909)<\/p>\n<p><em>Clay is Vice President of Fairfield Financial, a primary source         for private money since 1964.\u00a0 Fairfield is currently targeting   loans    in    OR, WA, AK, CA, CO, ID, FL, GA, ID, MT, NV, NY, OK and   TX.\u00a0 To    submit  a   loan to Fairfield for consideration: <\/em><a href=\"http:\/\/www.privatemoneysource.com\/loanproposal.php\">http:\/\/www.privatemoneysource.com\/loanproposal.php<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Clay Sparkman This has been a tough four years for many of us, so in celebration of the anniversary of the sub-prime collapse, I thought it would be nice to start off \u00a0by having a little fun. With that in mind, I have prepared a top ten list, Top Ten Ways you Know it Might [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[11],"tags":[37,38,39,42,43,46,50,54,55,58,59,61,62,63,64,65],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/361"}],"collection":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=361"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/361\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}