Guide To Real Estate Hard Money Loans
What is a real estate hard money loan?
A Hard Money Loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard Money Loans are typically issued by private investors or companies. Glassridge is known for innovating creative and effective ways to secure our clients with the most candid and painless approach for Hard Money Funding.
How to get a real estate hard money loan?
The method to securing Real Estate Hard Money Financing through Glassridge is pretty much straight forward:
- Have (or be willing to create) a business entity to operate under (in most states)
- Have a credit score of at least 500 (in most states)
- Evaluate the time frame for your loan
- Present the potential value of the property you want to purchase
- Present a clear financial plan (including exit strategy)
Where to find real estate hard money lenders?
Finding hard money lenders who are reliable can be a some what daunting and tedious task. Without knocking any other companies, it is imperative for potential investors to understand that there are several well known (and some not so well known) companies that never actually close loans. They gouge their “customers” with upfront fees and are satisfied with this being their main source of revenue. We at Glassridge get paid when you get paid. We don’t make our money from upfront fees, which is why we strive to process your financing request as quickly and professionally as possible. Glassridge: your Real Estate Hard Money Lending Experts!