TYPES OF PROJECTS HARD MONEY IS SUITED TO...
What Kind Of Real Estate Deals Is A Jacksonville Hard Money Lender An Excellent Option For?
What Kind Of Real Estate Deals Is A Jacksonville Hard Money Lender An Excellent Option For?
- Construction or ground up projects that fall outside the very strict lending requirements banks have for these types of projects. hard money construction loans are a speciality of ours.
- Fix & flips in and around Jacksonville
- Rehab projects where the current state of the property is deemed to be in too poor of a condition for a bank to secure a loan against. Sometimes referred to as a “distressed” property
- Deals where the borrower has a low credit score or poor credit history
- Refinancing
- Bridge loans to avoid foreclosure or close on a property in a hot real estate market
When Might Real Estate Investors Prefer Hard Money Loans Over Other Types Of Financing? |
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Examples of When A Hard Money Loan Can Be A Great Financing Choice |
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If you have a poor credit history or low credit score then hard money may be the only financing you are able to get and is your only way of securing the capital you need to invest in real estate projects or direct to other investment opportunities. If you need money fast, either in order to close on a property in time or for some other situation, then hard money affords you the ability to get capital much faster than bank financing will. And for certain people, they will often prefer to use hard money lenders because the process involves much less red tape and is just an easier path to securing capital than traditional bank financing. Ultimately you need to decide for yourself if hard money makes sense for your personal situation, that of your team and the property or properties you intend to use the capital for. Our team is on hand to offer you unbiased advice so that you make an informed decision.
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