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Hard Money 101

A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies. Interest rates are typically higher than conventional commercial or residential property loans, starting at 7.7%, because of the higher risk and shorter duration of the loan. Overview Most hard money loans are…

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Reasons Hard Money Lenders Say No

Reason 1. Your residential deal requires or you need long term financing. Typical residential deals are 90 – 180 days whereas some commercial, industrial and land can be 12 – 60 months. Reason 2. *Property value as is or upon rehab completion will not sustain the profit ratios most hard money lenders are accustomed to. A quick rule of thumb:…

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Multiple Contractors = Best Price$

How do you find a great contractor? Referrals are the best source when they come from people who’s judgement you trust, as well as being able to view the results of the work performed. Just because everything looks fine you should also get multiple referred contractors to bid for the best chance to save where you can. Most contractors…

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