A hard money loan is made by a reputable company or a group of investors for a land purchase, commercial or residential investment real estate or to finance a building or construction. Usually, the risk involved is higher thus the interest rates are higher. Among these are hard money lenders in New York. The length of the loan is generally 1 to 2 years. There is also no pre-payment penalty.
This is great for investors because they understand and appreciate the ease and convenience of these loans to a regular bank loan. Investors understand that the higher interest rates and fees are part of doing business.They roll these costs into their planned expenses during profit analysis. The main benefit to investors is the speed the loan is processed. A simple,straight-forward loan from hard money lenders in New York can be closed in less than a week, some even within 48 hours. Investing in the loan programs can be an alternative for real estate investors.
Investors of loan programs from hard money lenders in New York can expect a healthy 12% return on their money. This rate is higher than any bank savings account. Each potential client is reviewed, and each deal is scrutinized, to guarantee minimal failure and high success rates. Most programs are set up to include money from several investors to even further minimize risks for investors.
Anyone interested in investing especially in real estate but is unsure of where and how to start should consider investing in hard money loans or trust deeds. They offer a great return of investment and also assists fellow investors and businessmen at the same time. Hard money lenders are always happy to recruit and add a fellow to their team of investors who are willing to share the profits of a lucrative field.
NLDS Corp is one of the leading lenders in NY read about their loan programs