Hard Money Lender

Posted by Pixelhead

What exactly is a Hard Money Lender- Rehabhardmoney.com is a site for people looking for a hard money loan, and also for visitors that would like to become hard money lenders. â€œHard moneyâ€ is money that is loaned out using assets such as real estate as collateral. Often times these loans are made when someone needs a loan quickly, (i.e. they have a business deal that must occur quickly so that it is not forfieted). In other situations, someone with bad credit may use property to get a loan if they are otherwise unable to get a loan. Hard money loans are typically made with high interest rates(17-29%), and they are also always assessed points in addition to the interest rate. So a Hard Money Lender is a lender that specializes in hard money loans.

Rehabhardmoney.com is a site that has information for both lenders and borrowers of hard money. Those seeking hard money loans can fill out a form to prequalify. Loans typically can take up to a week(first loan) or as short as two days so that the borrowers can purchase their potential fixer-upper investment property. After submitting information to prequalify for a hard money loan, the applicant will receive two free reports â€œ7 Secrets to using Hard Money to Your Advantageâ€ and â€œ5 Mistakes almost every Investor makes when Borrowing Hard Moneyâ€œ.
Those seeking information to become a hard money lender, may also fill out a form to see if they qualify as a lender.

Overall, the site is simple in design, user friendly and displays well in numerous browsers. If a visitor is seeking a hard money lender, I would strongly recommend Rehabhardmoney.com as a financial resource.

The listing for Rehabhardmoney in the pixelheadonline directory is located at http://pixelheadonline.com/Real_Estate/ along with other Real Estate related sites.

Written by adonkus on September 15th, 2006

Written by Pixelhead on September 15th, 2006 with comments disabled.
Read more articles on Investing and Real Estate and Site Reviews

David Bach’s “Start Late,Finish Rich” (June 3rd, 2007)
David Bach – Automatic Millionaire (January 27th, 2007)

10 comments

Comments are now disabled for this article, thank you for your participation. Read the comments left by other users below, or:

Subscribe to the comments on this article (RSS)

CommercialFundsOnline.com
#1. March 3rd, 2008, at 5:23 AM.

Our blog reviews commercial hard money loans, business financing, venture capital, bridge loans, and other ways business get money from private sources.

There are places to get hundreds of millions of dollars for business expansion and commercial real estate developments. We show you how and where.

yanni raz
#2. July 22nd, 2008, at 3:55 AM.

First of all I want to make sure that you’re all familiar with the term Hard Money.
Hard Money is Money Loaned to you by private investors, these private investors can be from anywhere but normally the Hard Money lenders would want to work within their own state, so if you’re from California than you want to find an investor in California.

So what type of Hard money loans the Hard Money Lenders will do?

The First type of Hard Money Loans lenders are offering is Construction Hard Money Loan.
In construction Hard Money Loan the Hard Money Lender will loan the borrower the money in stages, example: You own a land in Los Angeles California, on that Land you want to build a house, you have the Plans approved by the city of Los Angeles and you’re all ready to go, now you need a Hard Money Loan because it will be easier to qualify and get the money you need for the construction.
You will call a Hard Money Lender and give your information, the approved plans, your financials, your budgets for the construction(you can get it from your contractor), then lets say the Hard money Lender agrees to Loan you the money you need, but the way the Hard Money Lender will Loan you the money is by stages, and the stages are:
When your Contractor will finish the foundation, the contractor will get paid after inspection that is done by the Hard Money Lender $10,000 for the foundation work. Than when your electrician finishes the electricity in the house, than the electrician will get paid after inspection done by the Hard Money Lender another $7000.
You understand the concept?
Everybody by the completion of the construction will get paid by the Hard Money Lender.
Why the Hard Money Lender do that?
Because he want to have control of the money, private investors know the risks they’re taking but they’re still willing to take these risks only if they have 100% control of the money.

Why Hard Money Lender will choose to Loan money to Investors and not Homeowners?

This is a very good question that a lot of people should know the answer for.
The Hard money Lenders wouldn’t want to have to take a homeowner out from his home because he didn’t make the payments, but with investors it’s different, it’s 100% business and that’s what the Hard money Lenders want- Business.
What type of properties Hard money Lenders will Loan money on?
A Hard money Lender will Loan money to many type of properties: Single Family Residents, Condos, Townhouses, Apartment Buildings, Hotels, Motels, Office Buildings, Shopping Centers and many others.
What hard money Lenders don’t like, it’s Land. It will be very hard to find a Hard Money Lender that will Loan you money on a Land, and the reason is because there is no income to Lands, maybe you can get a Hard money Loan on a Golf Course or maybe a Land that you about to develop something on, but raw Land- Forget about it.
Today Hard money Lenders Loan more money to Commercial Real Estate investors rather then to residential investors and the reason is Less risk.
Today the Residential market is not going up, Values of Homes are actually going down by more than 30%, and every day more foreclosures are coming out on the market, so the Hard money Lenders are smart enough not to participate in taking risks with homeowners.
Commercial Real Estate is still very competitive, investors are still buying properties, remodel properties and build new properties.
The Commercial Real Estate market is still alive just like it was in the residential market 3 years ago, and Hard money Lenders are still in the game, and now they’re busy more than ever because the Banks don’t Loan money that easy to borrowers.
So it’s Commercial Properties rather than residential properties, and Construction Loans.
Good Luck

yanni raz
#3. July 22nd, 2008, at 3:58 AM.

Learn more about hard money lending with fidelity mutual mortgage from California.
We’re hard money investors, so if you need help for your next development or purchase/ refinance let us know.

hard money lenders
#4. September 27th, 2008, at 7:02 AM.

Great post. Two of my favs: seo and hard money!
Fred

Liquid Roof Coatings
#5. February 19th, 2009, at 4:34 AM.

Defiantly these type of loans easily fulfill the investors requirement of finance at the time of rebuilding or refinancing his business. But they have to face a problem at the time of making its payments which is a periodical procedure. Can we help them in order to minimize their problems?

Dan
#6. March 6th, 2009, at 12:15 PM.

Interesting tips.It would be a great help for people on how to save/earn money in simple ways.

Pitbull Mortgage School
#7. August 14th, 2009, at 2:25 PM.

On September 3rd, inside the Rio Hotel – Las Vegas we are hosting the largest hard money lenders event this year.

Here are some of the topics discussed:

How to create an investor mortgage pool

How to position your business #1 on Google search engine How to create a residual income from your mortgage pool How to underwrite and fund your own deals How to lend and broker hard money deals How to take advantage of the REO market

Go to HardMoney or call 858 736 7788

real estate building
#8. February 11th, 2010, at 9:25 AM.

There are places to get hundreds of millions of dollars for business expansion and commercial real estate developments. We show you how and where.

real estate building
#9. February 11th, 2010, at 9:29 AM.

Why Hard Money Lender will choose to Loan money to Investors and not Homeowners?

Jay
#10. July 12th, 2010, at 11:32 PM.

Hard money lenders typically lend 50-70% Loan to Value (LTV) so that if they have to reposess the property, they can easily sell it and recover their losses.