As property investors we have the choice…use our own funds…find private lenders or bridging companies. Personally I owned a bridging company in the US. Our rates were 12% plus 2 points for 6 months. Time worked for us and we we made money. This clearly worked against the property investors. Contrarily I personally prefer private lenders. Where in today’s world can someone make money on their money. For our Professional HMOs in Manchester, we are using family money, however open to meeting private lenders if we have aligned interests.

Both Bridgers and private money lenders typically care more about the deal than they care about your credit score. They want to know you have a solid track record of flipping in order to feel good about handing you a six-figure check. They want to be protected by having a first charge (mortgage) on the property, so their money is secured by a hard asset. Did I say track record? Because I’ve found that it’s the most important thing these savvy individuals look for in an investor. Show the private money lenders your past projects….Show them your success….

I show potential investors this as an example

Real Profits in HMO Conversion Project Salford Manchester £47,081.81

We have completed on 35 plus deals. Even with that said we are always learning.

Bottom line suggestion is look for private money or private lenders for your property deals. Ask family…ask you accountant…ask your solicitor. The money is out there for good deals…