Who are Hard Money Real Estate Loans Ideal for?
Hard money real estate loans are ideal for borrowers who are unable to obtain funding through a conventional source. The properties or the borrowers are often clouded by legal or operational problems. Business hard money loan lenders can often help solve the problems and get the property repositioned for a conventional refinance. Hard Money Loan Lenders All hard money loan lenders are different. The hard money loan lenders we refer clients to will usually consider income producing properties such as apartments, condo/co-op conversions, retail/shopping/strip centers, mixed use properties, industrial, office buildings, hotels/motels, medical, mobile home parks and restaurants, as well as non-income producing properties such as land acquisition, development and construction, bank workouts, foreclosures and bankruptcies. How long do hard money loans typically last? Hard money loan terms are typically no longer than two to three years. The reason is simply that a longer term becomes too exp
