Fundthatdeal.com Offers Up to 100% Private Funding for Real Estate
After a successful pilot, fundthatdeal.com, a new online matchmaking service that connects real estate entrepreneurs with wealthy private investors, has launched.
Fundthatdeal.com was created to bring together two sets of people. On one side are private investors who are disillusioned with the low rates of return their money is achieving and the current volatility of the stock markets. On the other side are people who make it their business to identify the best residential and commercial real estate deals in the market but struggle to borrow money from banks and mortgage companies.
Generally, private investors take a more holistic view than banks and mortgage companies when assessing loan requests. They don’t base their decision purely on an individual’s credit rating. This coupled with the fact that some investors will lend up to and above 100 percent of the value of the property often makes them a preferred option to institutional lenders.
On the site, real estate entrepreneurs provide basic information on their deal, then pay a fixed fee to publish it to the network of private investors. Investors receive email alerts when new proposals matching their requirements are submitted. The investors then connect to the entrepreneurs to fund suitable deals. Fundthatdeal.com earns a 1% success fee on the amount that is loaned or funded on each deal.Tags: Financing, investment, Technology