What Sets Us Apart From Other Private Money Lenders
a. If your real estate transactions meet our LTV criteria for a Private Loan, the loan would generally fall into three categories of LTV and the terms are based on the quality of your transaction, not your credit and job history.
The simple steps below outline how your application and approval would work:
i. Complete Private Loan Application
ii. Provide Purchase and Sale Agreement and Escrow.
iii. Scope of Work and Renovation Disbursement Schedule.
All Private Loans are issued to business entities, not individuals. Investment Affidavit Required.
We are also able to do a same day site visit for higher quality transactions with low LTV. We gauge the buyer’s experience, balance sheet strength, contractor-team, broker/ agent team, and discuss the general philosophy of the investor. Not everyone is a good fit. The quality of your real estate transaction will dictate the terms you receive regardless of experience, with the exception being new construction.
Underwriting- 12 Hours or Less. Schedule a Site Visit for Appraiser.
Fast Closing Settlement on Your Real Estate Opportunity
We are actively seeking quality transactions with lower LTVs at acquisition, not speculative high leverage real estate transactions. We are a conservative private lender with a strong core philosophy and reliable team focused on evaluating the real estate fundamentals in your sub-market on a daily basis. We strive for repeat transactions to create a portfolio lending strategy, not arbitrage lending, which would mean selling the loan after the closing. Completing successful real estate lending deals using honest, clear methods is a process we genuinely enjoy.
The following are some checklist items to consider and be prepared for: the buyer’s real estate agent/ broker and attorney availability, the seller’s attorney/ agent/ broker are given a copy of the contract to purchase, the purchase and sale agreement, escrow agent availability, scheduling final water and sewer reading, mortgage, note, security agreement, investment affidavit, assignment of rents, insurance documentation, mortgage, title, municipal liens, sewer, flood insurance if applicable, additional insured endorsement, HUD Se
Construction disbursement timing is often overlooked, but in our opinion, it is a very important stage. Having enough cash reserves and experience in getting a project finished correctly is crucial in a successful redevelopment or new construction, along with strong construction and site management. The idea is to be ahead on work, and be prepared for what is coming next in the project plan. Payment follows as work is finished in stages. These stages may follow this pattern: obtaining the property/ land, rough building, electrical, plumbing, frame, sprinkler inspection, as-built approval, order of conditions, fire department inspection, and lastly, the final occupancy permit.
We come to inspect the progress of work as each request for the disbursement of funds is received. There is a charge for each request for a site visit inspection, so we would advise you to be sure that the work is completed upon the inspector’s arrival. If the work is completed, the funds can be released relatively quickly upon request.
Having a construction budget and working together with your private lender in the disbursement of the construction funds is crucial to the success of the real estate project. This helps ensure that the value of the collateral for the borrower and the lender are kept in good standing. Disbursement occurs by a simple system of payment given to the appropriate parties for work accomplished.
Construction Disbursement Schedule
Private Money Lending
Whether you are a seasoned real estate investor, real estate entrepreneur, or developer/ contractor interested in financing your next real estate investment acquisition, rehab project, quick flip, or perhaps a real estate agent or real estate broker working on a residential MLS/ Private Sale or off-market commercial real estate opportunity, private money mortgage financing is the key to creating successful outcomes.