What loan programs does HardMoneyMan.com LLC offer as Houston Hard Money Lenders?

HardMoneyMan.com LLC offers a variety of loan programs for real estate investors in Houston, including:

• New Construction Loans:
  • Terms: 12-24 months
  • Loan Amounts: $100k – $3M
  • Up to 75% of initial advance
  • Up to 90% total loan to cost
  • Rates start at 12%
  • Requirement: At least one new build and sale in the last 36 months
• Fix and Flip (ARV Loans):
  • Term: 12 months (18 months for larger projects case by case)
  • Loan Amounts: $50k – $7M
  • Up to 90% of the purchase and 100% of the repairs
  • Rates start at 12%
• 30 Year Rental Loans for Landlords:
  • Types: 5/1 ARM, 7/1 ARM, 10/1 ARM, 30 Year Fixed
  • Loan Amounts: $50k – $2M
  • Up to 80% loan to value on purchases
  • Up to 75% loan to value on refinances
  • Minimum Credit Score: 660
  • Rates from 7.49%
  • Interest-only options available
• Loans for 5 to 20 Unit Apartment Buildings and Mixed Use Rehab:
  • Term: 18 months
  • Loan Amounts: $250k – $10M
  • Up to 80% loan to cost
  • Rates from 7.49%
  • Minimum Credit Score: 680+

These programs are designed to cater to various investment strategies and project types, offering flexibility and quick funding solutions for investors. For more detailed information or to apply, you can visit their loan programs page.

What sets HardMoneyMan.com LLC apart from others that offer Hard Money loans in Houston?

HardMoneyMan.com LLC distinguishes itself from other hard money lenders in Houston by offering:

• Personalized Service: Clients have noted the company’s efficient, responsive, and transparent service. The team, led by Ken Vesely, is praised for their knowledge and smooth transaction process.
• Expertise and Guidance: The company is recognized for providing guidance throughout the loan approval process, helping clients understand the nuances of hard money loans..
• Quick Closings: Reviews highlight the ability to close deals quickly, often in less than 30 days, which is crucial for investors looking to move fast in the real estate market.
• No Surprises: Clients appreciate the straightforward approach with no hidden fees or surprises, ensuring a reliable and trustworthy experience.
• Educational Approach: They take the time to educate their clients about hard money loans, which can be particularly beneficial for those new to real estate investing.

These factors contribute to HardMoneyMan.com LLC’s reputation as a go-to lender for real estate investors seeking hard money loans in Houston. Their commitment to client education and transparent operations seems to be a significant part of what makes them stand out in the competitive lending market

How is the Houston Real Estate Market for investing in 2024?

The Houston real estate market in 2024 shows promising trends for both buyers and sellers. Here are some key highlights:

1. Single-Family Home Sales:
   • Single-family home sales rose by 7.6% year-over-year in February 2024, marking the third consecutive monthly increase.
   • This surge indicates positive momentum and growing interest in Houston properties.
2. Luxury Housing Segment:
   • Homes priced at $1 million and above experienced remarkable sales growth.
   • The appetite for high-end properties in Houston is on the rise.
3. Mid-Tier Properties:
   • Homes priced between $500,000 and $1 million also saw substantial sales increases.
   • The market remains resilient and offers potential for growth.
4. Inventory Expansion:
   • Overall inventory expanded, with active listings soaring compared to the previous year.
   • However, demand outpaced the increase in inventory, as evidenced by rising total property sales.
5. Optimistic Outlook:
   • The surge in home sales, modest price appreciation, and expanding inventory set an optimistic tone for the upcoming spring homebuying season.
   • Pent-up demand continues to drive consumer activity, creating opportunities for both buyers and sellers1.

In summary, Houston’s real estate market in 2024 presents favorable conditions for investment, with a mix of luxury, mid-tier, and entry-level properties. Whether you’re a prospective homebuyer or an investor, the market offers growth potential and opportunities.

How can I contact HardMoneyMan.com LLC for more information? 

You can contact HardMoneyMan.com LLC for more information through the following methods:

• Phone: You can call them at (866) 461-2695 or (516) 526-84451.
• Email: Send an email to ken@hardmoneyman.com
• Online Form: Visit their contact page and submit your loan application or inquiry through the online form provided1.

Their team is known for being responsive and they encourage potential clients to reach out with any questions or loan scenarios for review.

Can I schedule a consultation with them for my Hard Money Loan in Houston? 

Yes, you can schedule a consultation with HardMoneyMan.com LLC. They encourage potential clients to reach out to discuss loan scenarios or any questions you may have. You can submit your loan application or inquiry through their online form, and they will get back to you promptly. If you prefer, you can also call them directly or send a text message to the provided numbers.. This way, you can have a personalized discussion about your real estate investment needs and the loan options available to you.

What documents should I have prepared for my consultation with Hard Money Lenders Houston HardMoneyMan.com LLC? 

For a consultation with HardMoneyMan.com LLC, you should prepare the following documents:

• Personal Identification: A government-issued ID to verify your identity.
• Property Information: Details about the property you’re seeking financing for, including address, current value, and any rental income it generates.
• Financial Statements: Recent bank statements or other financial documents to demonstrate your financial stability.
• Credit Report: Although they may not require a minimum FICO score, having your credit report can be helpful.
• Experience: Documentation of your experience in real estate investing, especially if you’re applying for certain loan programs.
• Construction Plans: If your project involves construction, copies of the construction plans may be requested1.
• Loan Application: A completed loan application form, which you can likely obtain from their website or during your initial contact.

It’s always a good idea to reach out to them directly to confirm the exact documents needed, as requirements may vary depending on the specific loan program you’re interested in.

Are there any specific requirements for fix and flip loans in Houston? 

Yes, there are specific requirements for fix-and-flip loans that investors need to meet. These typically include:

• To approve a fix-and-flip loan, lenders often require a decent credit score
• A Solid Business Plan: Having a detailed business plan is crucial. It should outline the project’s timeline, budget, and expected return on investment.
• Lenders will want to know the location, purchase price, and potential after-repair value (ARV) of the property you plan to flip.
• Real Estate Investment Expertise: Lenders might ask for evidence of your track record in property investment, especially if you have experience with house flipping projects.
• Initial Investment Requirement: A down payment, representing a portion of the property’s purchase price, is typically necessary to secure a loan.
• After-Renovation Value (ARV): The potential value of the property post-improvements is a key factor in determining the amount of the loan.

What are the typical interest rates for fix-and-flip loans in Houston? 

Interest Rates for Fix-and-Flip Loans:

• The interest rates for fix-and-flip loans can vary depending on the lender and the specific details of your project.
• As of April 2024, here are some typical ranges:
  • Fix-and-flip loans: Approximately 12,5%.
  • Conventional 30-year fixed rate mortgage: Around 7.1%.
• In general:
  • Typical interest rates: Fall between 10% and 18% for hard money loans
  • Fees: Up to 2 to 4 points.
• Keep in mind that these rates are higher than conventional mortgage rates due to the short-term nature and the increased risk associated with fix-and-flip investments.