Hard money loans for real estate investor and commercial property owners in 2012 are available when investors put 20-30% of their own money in the deal. Private Lending Groups in New York, NY will do everything to make good loans to qualified investors on quality property. But it’s hard to do it if investors not have enough capital in the deal. We are positive real estate and will rebound in the next 12-24 months in New York, so we are funding hard money loans in the market.
Hard money loans in 2012
February 22nd, 2012 · hard money loans
Hard money loans
Hard money loans for real estate investor and commercial property owners in 2012 are available when investors put 20-30% of their own money in the deal. Private Lending Groups in San Diego, CA will do everything to make good loans to qualified investors on quality property. But it’s hard to do it if investors not have enough capital in the deal. We are positive real estate is stable and will rebound in the next 12-24 months in southern California, so we are funding hard money loans in this market.
We fund loans quickly and can often fund hard money loans in less then 19 days.
Hard Money Loans Qualification:
Do you want to see if you qualify for?
hard money loans
Before we issue a loan commitment you must provide some basic information for a hard money loans?
- Complete online loan application at private lending groups in San Diego California?
- Have a property address we can evaluate
- Loan summary explaining details of transaction
So if you have been rejected by the banks and mortgage companies or do not have perfect credit and need no income qualifying hard money loans? You have come to the right place. Private Lending Groups is here to work with real estate investors who are taking advantage of the lowest real estate prices in decades.
Apply for hard money loans: click here
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Self employed mortgage loan
January 30th, 2012 · private lending
Self Employed Mortgage Loans
If you have difficulty documenting your income because you are self-employed, take a look at a self employed mortgage loan option for qualified applicants. Private Lending Group created an online marketplace so self-employed borrowers like you could get financing easier. We offer self-employed and independent contractors stated income refinance loans, investor mortgages. If you own your own business, or you are a 1099 contracted worker, then Self employed mortgage loans will likely meet your financing needs.
If you do not want to document your income, or you would prefer to supply the lenders underwriter bank statements rather than pay-stubs, then a reduced doc feature would benefit your mortgage loan submission. Getting a Self employed mortgage loan makes a lot of sense if you are self-employed or if you tax returns are more complex because of multiple revenue streams.
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Purchase Rehab Loans
October 24th, 2011 · hard money loans
Purchase Rehab Loans
Today’s real estate investors have found purchase rehab loans the answer to their investing needs. Purchase rehab loans are a combination loan. Part one is used to purchase the investment property, and part two is used to advance monies for needed repairs.
Many times, real estate investors need funds after closing to updated the kitchen and baths. Other times the property is just to small, and would be better used as a rental or flip if there were a more bedrooms, additional closets or storage added.
Our response to the market place in the San Diego area, we have our Purchase Rehab Loans program. You can purchase an investment PLUS add the cost of improvements to the loan.
Here is how it works, after you find an investment property to purchase. you figure out how much work the property needs, you submit this construction schedule and estimate with your loan request.
Write an offer contingent upon the Buyer obtaining plans and specs for home improvements within ‘x’ days of approval.
On the day of closing, the seller gets their agreed to sales price and the additional funds are put in a construction account for the investor to complete improvements. Draws are made as the work progresses.
An appraisal is completed based on the ‘subject to’ completion of the work, so that you know the true value. Remember, some improvements will only bring a home up to standard value, not increase the value.
A contingency factor of 10% is allowed in the construction costs and put into the transaction. This can either be paid by you at closing or rolled into the construction portion of the loan.
The loan is an Interest Only payment at the closing of the loan and during the construction phase of the project.
Once the work is completed, the purchase / rehab loan is refinanced or modified to the final end loan. This could be a 30 Yr Fixed rate loan, a 15 Yr Fixed rate loan.
To apply for Purchase Rehab Loans click here
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Private Money Real Estate Loans
August 29th, 2011 · private lending
Private Money Loans
Private money loans are an important source of funding for today’s California real estate investors. Before the real estate bust it was relatively easy and inexpensive to get a loan from your local bank or mortgage broker. But those days are long gone as traditional lenders have tightened lending guidelines and in some cases, have gone out of business.
Real estate investors need funds to grow their business and help new home buyers achieve home ownership. Private money is a growing source of capital that is both affordable and readily available in most American cities like Los Angeles. Instead of seeking money from banks, savings and loans, and even hard money lenders who charge high interest rates, fees. Private money offer a alternative solution to growing your real estate business. [Read more →]
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Hard Money Business Loans
July 28th, 2011 · hard money loans
Hard Money Business Loans
Private lending groups in San Diego offers hard money business loans if you already have worn out all your possible financing sources from banks and traditional lenders and you still need more money to operate or expand. Since they are usually short term and must be paid within one or two years, they are also called bridge loans.
Before you sign for any hard money business loans,
When you have a growing business and want to expand it, then hard money loans can help you. Consider the following items.
1. Can you generate a return on investment (ROI)?
2. Do you have an exit strategy? Hard money business loans will be pain within a shorter period of time. Therefore, if you do not have a regular cash flow then it is not suitable for you.
3. What are your alternatives? When your alternative financing options are equity based, a hard money loan can enable you to take control of your business
4. What’s the impact on personal liability? Hard money loans are better compared to other financing sources with high costs.
5. Can you generate enough capital? A hard money loan is not the suitable option when it can’t cater your financing needs.
Hard Money Business Loans can be the very beneficial because they are easy to qualify for, close quickly and will help you to meet your business financial goals.
To apply for hard money business loans, click here
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Commercial Hard Money Lenders
June 21st, 2011 · Commercial Hard Money
Commercial Hard Money Lenders
Commercial hard money lenders are an important alternative to your business’s traditional financing alternatives. A commercial hard money lenders can sometimes make all the difference even if traditional lenders have rejected an loan application as too risky. Hard money commercial loans are always offered at higher rates than bank loans but beyond the cost when few other financing is available, Commercial Hard Money Lenders are a savior when traditional lenders are not lending.
Commercial Hard Money Lenders Requirements
Commercial hard money lenders will consider your property as the collateral for repayment and and not be as strict about credit and income as bank lenders. But commercial hard money lenders are seasoned business people who have no interest in owning your property much less in running your commercial venture. Loans are made based on the same considerations of risk and repayment as they would be at a mainstream lending institution, but the value of the collateral property is of far greater concern. In many cases, you will learn more from someone who has real estate experience both inside and outside of a traditional financial institution than from someone whose experience lies purely on the inside. Buildings or other facilities that your company is currently using may not be considered. Rather, a commercial hard money lender will be looking at the overall value of the business and especially at its resale value of the business.
Short Term Commercial Hard Money Loans
Hard money commercial loans are typically very short term loans. A commercial hard money borrower can expect repayment terms for periods of between 1 and 3 years. But commercial hard money lenders also do a good amount of business simply because they can close deals faster than traditional lending institutions ever will and closings in as little as ten days are sometimes possible. Some commercial hard money lenders will syndicate groups of private investors for every deal each deal while others actually hold big mortgage funds and can very quickly make those funds available within a period of days or a few weeks. Commercial hard money lenders know that the loans they offer are at a premium cost, and therefore they won’t stretch out terms but should be able to talk to you quite frankly about the length of time for repayment and about your ability to repay.
For more information on terms and qualifying click here.
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Financing foreclosures
May 23rd, 2011 · hard money loans
Financing foreclosures
Financing foreclosures can be a challenge. Financing real estate foreclosures with purchase money mortgages is not a viable option if the borrower or the property does not qualify.
Banks will not finance properties that need major repairs, unless the loan is owner occupied and the borrower qualifies for and FHA 203k rehab purchase loan.
Investors basically have two options when purchasing major rehab foreclosed properties. Pay cash or use hard money loans.
At first it might seem that a purchase money mortgage was the same as any other financing but that’s not entirely true. For instance, in California a homeowner with a purchase money mortgage who is foreclosed cannot be sued by the lender to make up any losses on the loan. However, if the property has been refinanced there’s no longer a purchase money mortgage and so the protection for homeowners against deficiency judgments disappears. Notice that in our example the purchase money protection does not apply to investors and that the rules in other states are different.
Foreclosure Loans
Is the buyer an owner-occupant or an investor? If an investor you may be required to put down more and to pay a somewhat higher rate. When financing foreclosures, the rules and paperwork to finance are simply the same as any mortgage originated.
Cash is king of course, and solves all financing foreclosures problems, and loans from hard money lenders helps many investors that can not receive bank loans or do not have 100% of the cash required.
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Loans for back real estate taxes
April 19th, 2011 · hard money loans
Loans for back taxes
Loans for back taxes are common in this challenging economy, markets and business changes unfortunately many businesses miss the warning signs and over or under react to the changing industry dynamics. Their actions or inaction’s can lead to dire consequences for a small to mid size business including cash flow issues which inevitably have a trickle down effect on all areas of the company including loans for back taxes.
These cash flow issues typically lead to issues with various taxing authorities including not fully paying income taxes, property taxes, etc. To help these business owners right-size their current situation, many options are available including Accounts receivable factoring, inventory financing, equipment financing, real estate financing and loans for back taxes
Real Estate Loans for back taxes
Real estate loans for back taxes can be an excellent alternative to higher priced factoring solutions (inventory, equipment, accounts receivable, etc…). In many cases the borrowers have an excellent piece of real estate collateral that can possibly be financed to provide ample working capital for their business. Loans for back taxes increase working capital that is one of the key variables in the turnaround of any company.
Many times these clients will not qualify for traditional bank financing. Traditional lenders focus heavily on the business financial’s (both present and historical) to evaluate the soundness of the loan. Luckily, lenders exist that focus on the borrowers collateral as opposed to their current financial’s. A perfect fit for situations like this is a private lender with a no-doc program.
Loans for back taxes are a unique niche that is very different than other sub-prime products. Typically sub-prime lenders underwrite primarily on credit, income, or cash flow of the property. The private lender no-doc loan solely underwrites the property and not the borrower or the financial situation of the company.
For example, a no-doc lender recently made a loan to a business that had lost money for the last three years. The lender was able to analyze the property, understand the company’s financial situation and the steps being taken to improve the cash flow. As long as the property has enough equity in it and a plan for success, the no-doc lender is typically able to make the loan.
A no-doc loan is typically faster, and enables the company to pull out more capital than factoring on receivables and materials. Start to finish a no-doc programs takes 2-3 weeks and can provide the borrower up to 60% of the equity in their property. The loans can typically be structured to fit the particular needs of the situation.
We can help the following borrowers:
- Unpaid property taxes
- Payroll tax issue
- Unfilled tax returns
- Business cash flow issues
- In need of working capital
- Foreclosures
- Tax liens
- Judgments
- Credit Challenges
- Mortgage lates
- Debt Consolidation
- Various other situations where time is of the essence
To apply for a loans for back taxes click here.
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Asset Based Lenders
March 17th, 2011 · hard money loans
Asset Based Lenders
The current San Diego market presents asset based lenders with a multitude of opportunities and risks. As the availability of conventional bank lending shrinks in the marketplace, independent asset based lenders are seeing an uptick in residential and commercial loan applications. This development is a once-in-a-generation opportunity for private asset based lenders to develop relationships with business that was previously out of reach due to strong bank competition.
Asset Based Lenders Real Estate
Asset based real estate loans are a viable solution for businesses or real estate investors that cannot provide tax returns or have a few bumps on their credit report. Commercial real estate owners with equity less then 65% loan to value are the best candidates for asset based loans.
At the same time, across the board declines in sales and earnings make many business owners that own real estate a potential asset based loan borrower. How can your business capitalize on the opportunity to borrow when banks say no?
Private Lending Groups will work to expand and leverage your real estate assets. Business owners have a lender that uses your real estate asset as collateral instead of boxes of documents and months of underwriting your loan request.
For more information on asset based lenders contact Private Lending Groups.
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