Property can be so stressful and emotional sometimes. One of my investors has pulled out for personal reasons and the vendor wants to complete early next week. It’s a good deal, but it looks like I’ll lose my deposit - any ideas?
When you enter the game of playing with private investors, you have to take on the chin that you are dealing with individuals who have a limited supply of funds and react emotionally to putting their money in your deal.
Is there an alternative? Yes, and it’s one I have been teaching for the past few years. Use bridging lenders.
Why is this a better way of funding property purchases?
Having brokered hundreds of bridging loans in recent years, I know how bridging finance saves investors the hassle and heartache of the flakiness of private finance. Even with tight deadlines you can get your funding in place quickly. Usually within 28 days, but in emergencies we’ve managed to get from zero to funded in a matter of days.