16 11, 2015

Hard Money Loan Glossary

By |2015-11-16T13:14:22-04:00November 16th, 2015|Categories: Hard Money, Loan|0 Comments

When you take out a hard money loan – particularly if you’re a new REI – you’ll hear quite a bit of terminology. You may already be familiar with some of it, especially if you’ve taken out traditional loans before. However, some of the terms used in the hard money lending industry are different from those used in traditional lending. The Hard Money Loan Glossary Appraisal An appraisal is a statement of value on a piece of property. It’s put together by a credentialed expert who determines value based on condition, age and demand. Assignment An assignment is a written

12 11, 2015

Investors and Developers: Could You Use Hard Money?

By |2015-11-12T12:56:14-04:00November 12th, 2015|Categories: Commercial, Developers, Investment, Loan, New Construction, New Home Development, Real Estate|0 Comments

In some cases, investors and developers are better off taking out a hard money loan than using a traditional loan. So when is a hard money loan better for developers and investors? Typically, hard money is a better choice when an investor or developer: Needs to close quickly and following traditional funding routes would take too long. Often, banks and other traditional lenders take several weeks – if not longer – to process the paperwork on a loan. Has several good opportunities but not enough cash to accept them all. Banks won’t extend credit if it appears you’ll become over-extended.

8 11, 2015

Typical Uses for Hard Money Loans in Atlanta

By |2015-11-08T17:04:33-04:00November 8th, 2015|Categories: Hard Money, Investment, Loan|0 Comments

If you’re like most people, you’ve heard of Atlanta hard money loans… but what are they, and why do people use them? What Are Hard Money Loans? A hard money loan is money given to investors who need fast cash to purchase and renovate a property. While credit history is important when it comes to a hard money loan, what’s more important is the value of the property. Typical Uses of Hard Money Loans in Atlanta While many people apply for hard money loans in Atlanta and the surrounding areas so they can flip homes, there are plenty of other

4 11, 2015

Commercial Hard Money Loans: What You Need to Know

By |2015-11-04T10:00:00-04:00November 4th, 2015|Categories: Commercial, Hard Money, Loan|0 Comments

Commercial hard money loans aren’t something you typically hear about in casual conversation, and if you’re like most people, you’re wondering what they are – and whether they could help you. What Are Commercial Hard Money Loans? Commercial hard money loans are designed to help business owners get access to cash quickly. They aren’t the same as traditional commercial loans; in fact, there are several key differences. In order to obtain a commercial loan through a bank or another lender, you generally have to provide: Proof of income High credit scores Tax returns Financials from your business You’ll also have

15 10, 2015

Could a Hard Money Rehab Loan Be Right for You?

By |2015-10-15T13:37:02-04:00October 15th, 2015|Categories: Hard Money, Loan, Rehab Loans|0 Comments

It’s every seller’s dream: turning an ugly or outdated house into one that’s more attractive and appeals to more potential buyers (and at a higher price) so it can sell faster. However, if you’re like most sellers with homes like this, you’ll need a rehab loan to make it possible. Prior to 2008, it was easier to get in rehab loan from a bank than it is today. In many cases, investors need to turn to a hard money lender for this type of financing – but what is a hard money rehab loan, and is it right for your

13 10, 2015

Self-Employed and Need a Loan?

By |2015-10-13T15:24:21-04:00October 13th, 2015|Categories: Hard Money, Loan, Stated Income Borrowers|0 Comments

If you’re like many self-employed business owners, you already know how tough it can be to secure a conventional financing. When you call a bank and ask whether they’ll be able to finance you based on your stated income, you may be used to hearing the word “No.” But the fact is that stated income borrowers are really what’s driving the economy right now. Stated income borrowers can include: Small business owners Realtors® Doctors Lawyers Business consultants Writers Real estate investors Unfortunately, traditional lenders make it tough to borrow when you own your own business. That’s true even if you

8 10, 2015

Could Hard Money Help You With Foreclosure?

By |2015-10-08T14:51:43-04:00October 8th, 2015|Categories: Foreclosures, Hard Money, Loan|0 Comments

If you have a foreclosure in your credit history, a hard money loan may be the best way to begin bouncing back. While your credit scores are important with this type of loan, they aren’t the only factor hard money lenders look at when choosing whether to extend you credit. Hard money lenders typically lean on the fact that the house will be used as collateral, which means we’re often more likely than a conventional lender to understand that a foreclosure doesn’t necessarily mean you can’t handle credit. Bank lending is generally very inflexible, and it doesn’t appear that that

6 10, 2015

Sometimes the Best Investment is a Decision NOT to Buy

By |2015-10-06T14:48:18-04:00October 6th, 2015|Categories: Hard Money, Investment, Loan|0 Comments

  As a real estate investor, you make your living buying houses. However, sometimes the best possible decision you can make is not to buy. Low interest rates, speculation and a number of other factors are combining to flood the market with REIs, and in a haste to snap up a great deal, a lot of investors overlook the fact that what they’re dealing with may not actually be a great deal. When Not to Buy You already know how to get the best deals on foreclosures and other investment properties. Unfortunately, sometimes investment properties are too expensive to be

1 10, 2015

What is a Buy and Hold Property?

By |2015-10-01T02:37:00-04:00October 1st, 2015|Categories: Bridge Loans, Hard Money, Investment, Loan|0 Comments

If you’re a new real estate investor, you may have heard the term “buy and hold” property – but what does it really mean, and is it something you should look into doing? What is a Buy and Hold Property? Although flipping homes is one of the more popular forms of real estate investing, “buy and hold” is a very viable alternative. Naturally, it depends on what type of investment you want to make. However, purchasing a buy and hold property is different from buying a home that needs to be rehabbed. Buy and hold properties are those the investors

29 09, 2015

What Are the True Costs of Rehabbing a House?

By |2015-09-29T23:47:29-04:00September 29th, 2015|Categories: Hard Money, Investment, Loan|0 Comments

If you’re a real estate investor, you already know that rehabbing a house costs money. However, if you’re new to the business, you may not know just how much money it takes. It’s important that you account for all of your expenses when you undertake your first rehab project. So what are all of the expenses associated with a rehab project? Expenses Associated With Rehabbing a Home Flipping houses can be a very lucrative field, so it’s no wonder that business savvy investors want to dive in quickly. However, expenses can pile up quickly, too. Some of the expenses associated