Are you interested in earning 2-3 times the best interest rate you can get from the bank or credit union on your discretionary cash? Are your retirement funds earning less than 8% interest? Are you looking for a higher return, but secured by collateral you understand?
Then think about becoming a private mortgage lender. A private lender is an individual who lends cash in exchange for a "mortgage" or lien on real estate, while earning anywhere from 8-15% or so annual interest. This method of financing real estate is more common than you might think, and there are plenty of savvy real estate investors looking for funds.
Do your due diligence, and it can be a relatively safe and easy process to generate higher cash returns.
Interested in becoming a private lender?
Here are some very good links to get you started:
If you have questions about where to get started as a private lender locally, please give me a call. I'd be happy to talk with you about opportunities for lending funds for real estate locally.