When banks say no,
We say yes
A Private Money Loan is a 1st lien loan collateralized by Real Estate and is commonly used by Real Estate Investors who purchase distressed properties with the intention of renovating to sell or renovating to keep them as rental properties.
When and Why You Need Them
Being fast and knowledgeable as a Real Estate Investor are the keys to success. You can’t afford to wait on big banks and traditional lending timelines, that’s why Private & Hard Money Loans help you close in days, not weeks.
Rhetorical question: will you make more money with 1 – 3 properties or 7 – 21? Of course we know the answer, and that’s the true power behind leverage, to grow your money by leveraging it to borrow others.
As the old saying goes, if you want to find out if you have a good deal or not, call a Hard Money Lender? As if the deal is not a good one, a Hard Money Lender won’t lend on it and if they won’t lend on it, you should reconsider buying it.
Cut through the thick corporate lending tape and skip the long processing lines. Yes, your credit, income, assets and experience count, but the better the deal, the less they matter. Say hello to common sense loan approvals!
Missing fixtures? Damaged sheetrock? Leaky roof? The bigger the problem, the bigger the opportunity and when big banks and traditional lenders say no thanks, too ugly and too risky, we say, yes please and let’s make it pretty!
Utilize the Equity
Traditional lending requires 20% down regardless of the equity in the property and they don’t lend for repairs. With Private & Hard Money Loans, your loan amount is based on the ARV, which allows you to conserve capital.