Follow the smartest and safest lending practices of the largest and most profitable banks in the country. If you go to any major city and look at the tallest buildings there, you will see banks’ names on most of them. They have to be doing something right! You can do the same thing they do by becoming a Private Lender and choosing the term and the rate you want to charge.
The smartest and safest lending practices are no secret and you can easily follow them. Require borrowers to meet these requirements:
- Have an impeccable credit history and a proven track record in their business
- Have adequate collateral which can be foreclosed on, if the borrower fails to make interest or principal payments
- Collateral must be income producing
- Loan only short term – 5-years or less
- Interest on loans must be paid back monthly
The borrower is Home Path Financial. Their website is www.myhomepath.com, but they do not deal with individual investors. They have trained financial professionals like myself to work with individual investors. They have never missed a principal or interest payment since they were established in 2004. They buy foreclosed homes, rehab, sell or rent them.
Since banks cannot lend them the needed money as quickly as they need it, they borrow money from Private Lenders such as yourself for 9 months to 60-month terms at rates from 5.50% to 8.50%. The interest you earn is paid monthly by Direct Deposit. All transactions are handled by an independent third-party title company, not by Home Path Financial. The title company will send you an executed Mortgage and Promissory Note on one of the homes in HPF’s inventory to secure the loan you made to HPF.
When you loan money to a bank by buying a CD, you do not know who the bank loaned the money to or whether they paid it back. You are looking to the bank to pay you back with interest. The same is with HPF, except with HPF, you actually have collateral. With the bank you only have the FDIC logo to back you up. In the case of a financial meltdown where the banks closed and ATMs do not work, FDIC would be wiped out. FDIC was designed to take care of individual banks, not the entire system.
The people who fully understand this Private Lending Strategy say it is a “no brainer” and feel very secure. HPF’s rates seem too good to be true to some folks who do not understand the program. However, the company has a limited time offering and bonus that is fantastic. This has come about because HPF has just bought the largest new home builder in Wisconsin which has opened up new opportunities.
Clients who can take advantage of the limited time HPF bonus will receive 9% on a “jumbo deposit for 60 months ($250,000). That is $1,875 per month. Over the next 5 years they will receive $112,500 and still have their original principal to withdraw or re-invest. This wonderful news will truly MAKE RETIREMENT GREAT AGAIN.
Pat Way CLU, ChFC
Your retirement repairman
1322 Space Park Drive, Suite B-141
Nassau Bay, Texas
Just across from the Lyndon B. Johnson Space Center