Should I use a private lender to finance my property?

We do not recommend private lenders due to their high interest rates, which can reach up to 18%, plus a broker fee of 3-4% of the loan amount. Additionally, these loans place a lien on your property, giving the lender rights to seize it if a payment is missed.

Instead, we suggest seeking seller financing, as some sellers may offer terms of 5% interest over three years for up to half of the asking price. Alternatively, if the property has an existing mortgage, the buyer may assume it as a favorable financing option.