Family Matters: Why NOT to Borrow From Friends And Family

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"Lend money to an enemy, and you will gain him. Lend money to a friend, and you will lose him".

Although I'm para-phrasing this quote, thought to be from Benjamin Franklin, it is as true now as it was back then. Asking a family member or friend to pick up the tab at dinner because you forgot your wallet is one thing, but seeking a legitimate and considerable capital transaction from someone you have a familial or personal relationship with can sometimes be a bad decision. Here's why you shouldn't burden them with something like that, and why Hard Money is where you can turn for fast and affordable funding. Continued

Countdown: Top 5 Reasons Investors Won’t Qualify For Hard Money Loans

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There seems to be a shroud of mystery involving Hard Money. I mean, there are people that argue over the difference between Hard money and Private Money. (Mind you, they are the very same thing). It is this confusion that can downright scare some investors right out of even entertaining the idea... One of our core values at Glassridge is authenticity. What you see is what you get, with no misleading claims or deceptive fine print and this not only applies to our personal lifestlye, but also translates into our business practices as I intend to further reveal with this candid and brutally honest report.

Hard-money lenders do not rely on the creditworthiness of the borrower. Instead, they look to the value of the property. The lender wants to make sure that if the borrower defaults, there will be sufficient equity in the property over and above the amount of the loan. Accordingly, you will not get a hard money loan of 80 or 90 percent loan to value; typically, they will range from 50 to 70 percent loan to value. 1

I receive calls everyday from investors requesting a Hard Money loan to finance a real estate deal through Glassridge and more often than not, unfortunately I have to tell them that the answer is no. Those investors with little or no experience tend to make the same mistakes, and in this countdown to the number one reason, I will explain. Continued

Notes:

  1. Hard Money Loans: The Hard Truth, Benny Kass.

Dallas/Fort-Worth And Austin Are 2016’s Hottest Real Estate Markets [Urban Land Institute]

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According to an excellent report co-published by PwC US and the Urban Land Institute, 1 the Dallas/Fort-Worth and Austin areas are 2016’s real estate markets to watch.

The report, which was compiled by a team of researchers at both PwC and ULI, includes many quotes from 404 interviewed participants (hand-picked from the 1,465 survey respondents) including:

  • Private real estate investors (34.3%)
  • Real estate services firms (26.5%)
  • Institutional/ equity investors or investment managers (11.5%)
  • Banks, lenders, or securitized lenders (7.4%)
  • Real estate brokerage (6.5%)
  • Homebuilder or residential land developer (5.5%)
  • And more…

Continued

Notes:

  1. Emerging Trends In Real Estate 2016. PwC & Urban Land Institute, 2015.

Interests Rates, the Economy, and Real Estate Investing

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Visio Lending CEO, Jeff Ball, wrote a great article last week reviewing some important reports from the Federal Reserve. Entitled "Mortgage Rates, The Economy & its Effect on Real Estate Investors," the article makes some astute observations about 30 year mortgage rates, 10 years treasury rates, and the Fed Funds Rate.

We at Glassridge are in total agreement with Mr. Ball’s outlook and predictions, and wanted to share his article with a bit of our own commentary. Continued

6 Simple Tips On How To Achieve Financial Freedom Through Real Estate Investing

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How important is your personal finance and how much influence does it have on your efforts to build your own personal wealth?

If building wealth is a tool you intend to use for your financial independence, then your personal finance will definitely be the day-to-day responsibility that is going to aid in manifesting the exit strategy you've envisioned, and over time get you the permanent outcome you are searching for. Continued

4 Strategies For Real Estate Agents To Leverage Hard Money Lenders

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Most real estate agents don’t work with hard money lenders, because they are primarily focusing on Owner Occupied homes, and therefore only working with traditional mortgage lenders to get their Buyer leads Pre-Approved.

However, this is not necessary, and we will examine 4 actionable strategies for real estate agents (and brokers) to leverage hard money & close deals you never would have considered in the past. Plus, hard money clients will be doing repeat business, and will close faster with less documents required than a typical mortgage loan! Continued

6 Red Flags to Look For With Hard Money Lenders

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Your Hard Money Lender will always want to know about those who seek funding through them. In this same sense, you should know about your Lender. There are literally hundreds of reputable private hard money loan lenders in the US. With that said, there are several other, some established and some brand new up-starts, that can be everything from unprofessional and disorganized, to dishonest and down right shameful. I will attempt to clear up some of the mystique and help you choose the right lender with 6 Red Flags to Look For With Hard Money Lenders. Continued

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