Knowing exactly what hard money is, and not what someone else thinks it is, can be helpful now and in the future.
In August, the Trust Deed Capital Blog came out with “The History Behind Fix and Flip Financing” (link and article below). This hard money article got me to thinking how many home buyers I have spoken to, as well as numerous Real Estate Agents. A majority of them do not truly know what a hard money loan, also known as private money, and it’s actual benefits.
This type of real estate financing is not only useful for your California “fix and flips” or “remodel & resell” properties but it can be quite helpful to individual home buyers who have been turned down elsewhere for a mortgage or refinance due to poor credit, self employed with difficult-to-prove income, etc. It can also be helpful to an Investor who owns multiple properties and therefore is not qualified for another mortgage on another rental – at least per his bank and local credit union.
Being sure you have an experienced and licensed Broker to help with a hard money loan is very important. You want to make sure you are getting the facts and with integrity.
If you are in Southern California areas like Santa Barbara, Glendale and Arcadia or how about Northern California areas like Santa Rosa, San Francisco and Santa Clara, we are always available to answer any of your questions or help you out with a hard money alternative financing.
Best, Forest – The Guy in the White Hat
Office # 707-523-2099
Co-Owner and Hard Money Broker at family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988!
CA BRE #01000559. NMLS #289456
The History Behind Fix and Flip Financing
Posted by Ken Meyer on Tues, Aug 04, 2015