Have you ever dreamed of breaking into the world of real estate, but just have not had the means to do so? Always wanted to become a builder? A property rehabber or flipper? A landlord or investor? Whether you have desired to break into suburban real estate or bustling cities such as Boston or Philadelphia, a construction loan could work for you.
Why a Hard Money Construction Loan?
A hard money construction loan allows for a straightforward, efficient loan process to occur. Often times in the real estate industry, the biggest setback is the initial cost needed to get your foot in the door. The industry can be booming – if you can just break into it, of course. And that is where hard money construction loans come in. Essentially, hard money is provided, while the property that the developer wishes to build on is put up as collateral. Simply, the developer’s property is what secures the funds. In our case, a hard money construction loan is not a consumer loan. We only offer hard money loans for business purposes, and all agreements must be with an LLC or a Corporation.
I have never done this before. Are you sure that will not hurt my chances of receiving a loan?
First time buyers are more than ok! Due to the fact that land and property is being offered as hard, tangible collateral there is a very strong chance of qualifying for a hard money construction loan. The chance of securing the funds you need to begin your dream project is high. This process is meant to be streamlined, to benefit both parties involved. Same-day decisions are offered, allowing for a quick process. There’s ground to be broken. Why wait a minute longer?
Ok, I’m ready! Where do I go from here?
We here at HardMoneyMan.com LLC lead the market when it comes to construction loans. If you are ready to take the next step and fulfill your real estate dreams, please reach out to us here for a no-obligation discussion!