Hard or Private Money for your Real Estate Investing Needs
There are many advantages of using hard or private money to help grow and build your real estate portfolio and net worth.
Real estate investing is by far one of the most common uses of hard or private money funds. We all know that real estate investing is an extremely cash intensive financial endeavor. In order to capitalize on new opportunities, take advantage of ongoing projects, investors often require more operating capital than traditional or conventional banks are prepared to provide on short notice.
When traditional or conventional financing takes too long or is not available due to low FICO scores, discomfort with the project or collateral or some other reason, hard or private money can be a deal saver. If you invest in a lot of property, your FICO score can easily drop simply due to the number of mortgages you owe! This is in no way fair especially if you are paying on time, but it happens all the time. I know from my personal real estate investing experience and from that of my investor clients who I work with. Additionally, the properties that can be had for an advantageous price may not meet traditional or conventional banking criteria more times than not. In either situation, hard or private money lenders are not restricted in the same way that traditional or conventional banks are and since they are lending their own funds and most times do not have to answer to Wall St, FDIC, Fannie Mae, stockholders, and the like.
Hard or private money lenders can turn files around in as little as 2-3 weeks. Mortgages for real estate investing can take anywhere from 30-60 days at a minimum to be completed and funding by traditional or conventional banks and lenders. Hard or private money lenders can generally fund in two weeks from the time you have all the paperwork in place.
Many hard and private money lenders can also fund projects that traditional or conventional banks will not or can't. If your real estate investing takes you to the vacant - non income producing property ("white elephants"), maybe a dry cleaners (or a retail strip mall that has one), gas stations (environmental issues galore), or even assisted living facilities (one of the fastest, most lucrative growing real estate markets in the US currently), traditional or conventional banks are not likely to be able to fund your project. Hard or private money loans can, once again, be a deal saver.
You should only plan to utilize hard or private money as a bridge loan. Hard or private money loans will usually allow from 6 months to 3 years. This should provide plenty time to prepare the property or your personal financial situation to arrange for long term traditional or conventional financing or to arrange for the sale of the property in question.
TVM Funding Group represents many private equity firms, lenders, and investors nationwide.
We welcome any commercial or residential loan scenario nationwide.
Preferred States and Focus:
- Texas - TX
- Alabama - AL
- Arizona - AZ
- Arkansas - AR
- Colorado - CO
- District of Columbia (D.C.)
- Florida - FL
- Georgia - GA
- Idaho - ID
- Illinois - IL
- Indiana - IN
- Iowa - IA
- Kansas - KS
- Kentucky - KY
- Maryland - MD
- Minnesota - MN
- Mississippi - MS
- Missouri - MO
- Nebraska - NE
- New Jersey - NJ
- New York - NY
- North Carolina - NC
- Ohio - OH
- Oklahoma - OK
- Oregon - OR
- Pennsylvania -PA
- South Carolina - SC
- Tennessee - TN
- Utah - UT
- Virginia - VA
- Washington - WA
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