Large metropolitan areas are always ripe with hard money lenders, as the renewal that is inevitable in industrial or downtown districts is perpetual. Because the large banks have begun to pare back on their loaning practices, hard money loans have quickly become commonplace. The Los Angeles hard money industry, for example, is quickly growing, as the need for financing continues despite the lack of funding currently available. We will use L.A. as the backdrop for our analysis, as it represents a large market that has a wide variety of properties available for those with funding.
While the residential areas can use the hard money loans to their advantage, we will turn our attention to the commercial hard money industry, and take note of how hard money lending can greatly increase a small business’s prospects, as well as give property companies the ability to purchase, renovate, and resell residential or commercial properties.
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