Everything You Need To Know About Financing Your Real Estate Project
Hard money lending has changed over the years, and the process is much different than it was in the early days. Lenders have much stricter criteria these days, and for good reason. In today's society, the laws favor consumers, not banks. While in most respects this is a good thing, when it comes to getting a loan, it is harder than ever before due to new regulations in place to protect the banks from bad loans.
So what does this mean for you, the real estate investor? Well first, it's important to understand that any lender will require a lot more information than they did a decade ago. They have to make sure that their hard money loans are protected, i.e. they are lending to a qualified investor with significant income and a solid credit history. Lenders have to minimize their risk as much as possible as it is now cost prohibitive to go through the foreclosure process. Gone are the days where they could just simply take the property back if an investor defaulted.
But do not fear...hard money loans are alive and well. You can still get the money you need quickly and easily. You can still take advantage of shorter turnarounds, no downpayments and more flexibility...you just have to know where to go.
That's where we come in. With over 30 years of real estate and lending experience, we created this site to educate seasoned rehabbers and would be investors alike. This site will provide all of the information you need to make a wise decision when it comes to hard money loans.
We have also researched hundreds of hard money lenders and have selected the most reputable, experienced ones to feature on our site. They have been carefully selected by our team of experts and have met our very stringent criteria.
We hope this site is helpful for you, and wish you the best of luck with your real estate project!