RECENT BLOG POSTS
If you've never used a commercial hard money lender before, it's good to know some of the pros and cons involved. Here's why it might be a great option for some investors and not the best option for others. Hard money loans are loans that are secured with collateral, not with the borrower's credi...
02/19/2020
If there's one constant in the rehabbing business, it is change. Adapting to these changes is what can make or break a project; learn how to use rehab loans from hard money lenders to keep your refurb project on target. Hey, we've been there, too — you're on schedule and under budget on a refurb ...
02/19/2020
It might sound crazy but getting a fix and flip loan in December or January is a perfect time. Read on to find out why.Most people think about taking on a flip in the so-called "hot" months of the spring and summer. While any time of year can be a good time to do a fix and flip, there are many go...
02/18/2020
You are ready to buy a piece of property. There is only one problem; you need someone to lend you money. Depending on what you are buying and your intentions with the property after the sale will decide what type of financing you need.There are several significant differences between hard money l...
02/18/2020
Chances are you are familiar with hard money loans from private lenders. In this article, we will look at some of the pros and cons of using hard money. There are 3 main benefits of using hard money:Fast Approval: Whether you are looking to invest in a fix and flip property, a piece of land or a ...
02/18/2020
As a stay-at-home mother of 15 years, my life abruptly changed with my husband’s death. This is my story of hard money saving my financial future.I had always loved staying home with my children, attending PTO meetings and never missing a beat with my family. Carson and I had been married for 15 ...
02/17/2020
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Hard money is typically used for short-term real estate projects that last from a few months to a couple of years. A hard money loan is an asset-based loan with a higher interest rate than conventional loans and shorter repayment terms. These loans are typically used for rehab to a property. The ...
02/17/2020
When you work with a hard money lender to finance your fix and flip, there is a possibility your loan will include a “holdback.” What exactly is a holdback and why would your lender want one as part of your contract?Construction HoldbackA construction holdback is when your hard money lender helps...
02/17/2020
When it comes to buying land, lenders are much more skeptical about loaning money than they are on homes and brick and mortar. If a lender has to foreclose on a land loan, the guarantee that they will recover the borrowed money is low. In the case of a borrower having a financial crisis, it is mu...
02/15/2020
Very few banks will finance a rehab loan. Often, a hard money lender is the only lender that will finance this type of project.Banks are generally uncomfortable lending on vacant properties that will be used as a fix and flip project. Truthfully, even if a conventional bank agreed to finance on a...
02/15/2020
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Dennis Dahlberg Broker/RI 623-582-4444

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