Private money lenders are great for short-term fix and flippers, who want to compete with the short timeline of an all cash buyer. However, private lenders are also right for long-term investors who want to rehab a rental property before refinancing into a permanent mortgage or seasoning a property before refinancing. Additional foreign nationals and traditional investors like private money … Read More
Lunch & Learn M&M Private Lending
M&M Private Lending Group President, Michael Internoscia and property appraiser Marty Kiar give an updated introduction to hard money, investment property taxes and other insights. What is a hard money loan? (…) Who Private Money Lenders are Right for? fix-and-flippers / short-term and long-term investors / buy-and-hold investors / long-term investors / foreign buyers (…) How long does it take … Read More
How to Use Private Money for My Clients?
Private investors provide short-term financing secured by real estate through hard money loans, approved by private lenders not banks. Hard money lenders base the loan amount on the property’s value, not the borrower’s creditworthiness. M&M Private Lending has millions in dedicated funds, allowing them to provide competitive terms without requiring approval from investors for each loan. Typically, they offer hard … Read More
Yacht Loan Situations That Require Hard Money
“The super yacht industry is poised for growth” – Forbes. Boating industry sources report 4% steady sales growth in recent years, but yacht loan availability has decreased by 25%. Thus M&M Private Lending Group’s specialty in yacht lending has become solution for the costumers who find themselves in the following scenarios or similar. Cash out of late model yacht Successful business … Read More
Effective Networking Hard Money Lenders
To grow your net worth, building relationships with colleagues and like-minded individuals is crucial. However, if you’re not naturally social, it can be challenging to break the ice. Here are some tips to help: Arrive early to events to get comfortable and avoid walking into an already-formed group. Approach strangers and engage with them politely. Identify someone who seems approachable … Read More
Are You Familiar with the New FinCEN Laws?
Last week, the federal government rolled out its tracking of secretive cash deals involving high-end Miami real estate. Understandably, this new development is causing many in the Miami real estate market to wonder how it may affect them. FinCEN has launched new regulations that require title insurance companies to disclose buyers’ names behind anonymous companies paying cash for properties costing … Read More
Considering a Fix and Flip? Choose a Hard Money Lender
Are you eyeing a property to potentially fix and flip or rent out? If that is the case, you likely understand well what repairs may be necessary. Have you given sufficient thought to how you’re going to fund it all? A hard money lender is one of your best bets, and here’s why. To start, obtaining financing within a reasonable … Read More
Short on Time? Consider Bridging Loans
If you follow our blog, you know about bridge loans. Now, let’s explore Bridging Loans, which serve the same purpose. Bridging Loans are short-term and interest-focused. They’re great when time is critical, like for property closing dates. To apply, your property’s value and ability to repay matter most. Bridging Loans range from one to three years with an LTV of … Read More
Thin Credit? Consider Alternative Lending
To purchase a home conventionally, you need good credit. However, if you prefer paying in cash, it may lead to “thin credit” issues. Traditional mortgage lenders check income, credit, and assets to determine eligibility, leaving millions of people with old or insufficient credit data, known as “credit invisible” or “thin credit.” Alternative or private lending services are a good option … Read More
Floridians Believe It’s the Right Time to Buy a Home
A recent survey by the University of Florida found that just over fifty percent of Floridians believe it’s worth buying a home, despite the record low homeownership rates. Less than twenty percent felt it was not a good time, while the rest were unsure. Florida’s homeownership rate remains higher than the national rate. Those in favor of buying a home … Read More
