If you’ve been following our blog, you likely know what our business is about and how our hard money loans work. Have you ever wondered why you would need a hard money loan in the first place? We have three great yet simple reasons why.
You’ll receive funds faster. In the real estate market, the most lucrative opportunities often require faster financing than a bank loan can offer. A hard money loan can be the best option for financing a real estate transaction when cash payment isn’t possible.
Properties requiring work. Properties that need some repairs and upkeep are often the best values in the market. Approaching a bank for financing rehab properties may result in issues, as many banks refuse to provide such loans.
No credit necessary. We’ve mentioned this one a few times. To put it simply, a bank will not lend money to someone with little or poor credit. Hard money lenders prioritize collateral over credit, disregarding factors such as bankruptcy or foreclosure when deciding to provide financing.
This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. With 30+ years of experience in private money real estate loans, we offer personalized services and deliver low rates/closing costs to our esteemed clients. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.
