These two terms are often interchanged and it’s really done incorrectly. So you should know what separates these two terms is the source through which you are obtaining financing. If you are using private money lenders Arizona, it means you have direct access to a special kind of investor who will put up the capital to fund your deals. Usually it’s someone that you know such as a relative or friend. But even if it’s not, you have to find this person and convince them you and the property you want to buy are worth investing in! Otherwise, why would they be interested?
Knowing these two essential differences is key to how you’re going to get your Mortgage approved. You can walk into the office of an investor and feel proud knowing damn certain that you can explain what you want and how you will get it. It’s part of the job and part of the risk – knowing what you’re getting into, having a plan and overcoming obstacles, just like Lance Armstrong. Maybe you’ll even feel like a hero. Maybe you’ll be setting a good example for future generations. Most of all, maybe you’ll make a profit.