Real estate investors explain why they're willing to pay nearly double in interest to work with private money lenders

Real estate investors explain why they're willing to pay nearly double in interest to work with private money lenders

Mike Gorius and Kevin Hart invest in real estate in Louisville, Kentucky.Courtesy of Kevin Hart and Mike GoriusMike Gorius and Kevin Hart opt for private lenders despite higher interest rates.The main advantage of working with private lenders rather than traditional lenders is speed.Finding people with capital boils down to networking, leveraging social media, and cold-calling.As of early July, mortgage rates are hovering around 6.7%.Two real es…