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private money: Alternative Financing Options With Hard Money - 08/09/11 01:39 PM
These days financing for real estate transactions can be a challenge. The banks have tightened their lending standards to the point where even quality borrowers may be unable to obtain the loans they need. This is compounded further among the smaller community banks, which make a lot of the local commercial, mixed use and other real estate loans that are not secured by an owner occupied single family residence.
For those with financing issues, a potential alternative is hard money. There are both pros and cons to using hard money. The benefits include looser qualification standards. For non consumer loans, often … (1 comments)
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private money: Hard Money Solutions For Commercial and Construction Transactions - 02/06/08 12:42 AM
Commercial properties financed with hard money are increasingly becoming a viable option to that of institutional money. Some of the reasons for this include institutions wanting fully amortized payments and/or amortizing these payments over a shorter time frame than the traditional 30 years. Additionally, for acquisition of commercial property, the main concern with hard money lenders is the collateral value, not the debt service of the property, making the approval process more streamlined. Even a property that does not meet the required debt coverage for an institutional loan is a fundable loan with private money investors.Raw land and construction are additional … (0 comments)
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