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Hard Money Lending & Private Mortgage Lending- How it Works

Private Hard Money Lending explained. The first in a series of short videos about hard money investing, borrowing and brokering from Trent ...

Lima One expands loan options for real-estate investors

This coming week, Lima One Capital will welcome its latest class of new employees into the financial field.

That brings the Greenville-based company up to 80 people, triple its head count from two years ago; meanwhile, the private lender is on track to loan $750 million to real-estate investors by year's end. The company's innovative loan products have caught the attention of Wall Street and, most recently, spawned an entirely new category of securities.

In other words, business is going well.

At the helm of the company is Greenville native John Warren, a four-year Marine Corps veteran who came home after fighting in Ramadi nine years ago searching for something to do with the rest of his life.

With angel investors on his side and a growing interest in fixing and flipping houses himself, Warren researched market niches in Atlanta-area real estate. Real-estate investors, he found, had few options for financing. By 2010 Warren found nine real-estate investors he trusted, and — with $1 million in other people's money — issued short-term loans aimed exclusively at restorations and quick, profitable turn-around sales. The pressure was on.

4 Steps to Take to Find Yourself the Best Mortgage Deal

We all want to save as much of our hard earned money as we can. Luckily for those shopping for a mortgage, there are several steps you can take to ensure you are saving money and getting the best deal possible.

Step 1: Get Lots of Estimates

Home loans are available from many different types of lenders, such as credit unions, big commercial banks, private mortgage companies, and thrift institutions. It’s worth your time to contact various types of lenders to see which has a program that best fits your needs.

Most of these lenders have forms that you can fill out online to get a custom rate estimate. If they don’t, you can always shoot them a call to give them your information. Make sure you give each lender the same personal information so that you can compare rates directly. Most lenders will require you to give them different variations of the following information:

Your name The loan amount Your social security number (so they can get