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Structure Loans with the Help of Hard Money Lenders
If you are having hard financial times and want to invest in a real estate project, then hard money lenders might be for you. Here’s what you need to know when you decide to proceed with this type of lender.
Working outside the traditional lending industry is a hard money broker. This broker has a pool of money that he wants to earn a higher than normal interest rate return on the money. The lending decision will be based on the preference for risk and the ability to do the loan. If the people have poor credit or their debt ratios are high, they can still secure a hard money loan.
Compared to conventional banks, loans from hard money lenders often come with higher than normal interest rates. These rates can run anywhere from 7 to 15 percent. Investors often use this type of loans as it is easy to qualify for and provides quick funding. In addition, brokers such as those at Level 4 Funding have put together a large rolodex of private investors that specialize in various types of real estate investments. These include numerous types of properties such as single family and multi-family units, offices, retail space, hospitality sites, storage ... more

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