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Private Lending

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Many people have similar problems when dealing with private lenders. When using private lenders instead of banks, simple items can sometimes fall through the cracks.

For example: When you purchase a home with a bank, the bank sends notices of exactly what to pay and when. The bank keeps track of the amortization of the loan. You get statements from a bank about how much to pay, when to pay, and exactly what you still owe on the property.

This is not the case when you work with a private lender. When you work with a private lender, you are responsible for sending out reports that detail the interest paid and loan balance. You need to create the amortization schedules and you need to keep track of the 1099’s.

This process can be very confusing and time consuming. This is why we created the private lending section in our program.

The private lending section keeps track of all your loans for you. If you are amortizing your loans, you can do that through the system. If you pay simple interest, the system will keep track of the interest that accrues.

This system also creates custom reports that work great for both you as the investor and for the private lender. The system can also remind you to send payments and to send monthly or quarterly status updates to your lender. It even puts your own company name at the top of the report. If you currently have loans with more than one bank, or if you currently have private lenders, you will want to use this system to keep those loans organized.

It will save you lots of time and prevent you from making careless mistakes with your math.

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