Two Easiest Ways to Obtain Hard Money to Buy Real Estate Property
Category : Hard Money Loans , private money lenders , Real Estate Loans
In many cases, conventional financing doesn’t work for real estate investors because they don’t meet
stringent criteria for the types of properties that qualify for financing. Individuals are also unable to
secure financing because of past foreclosures or credit problems. So most of the buyers and investors
turn to private money lenders to finance their real estate purchases. Hard money loans, which are also
called private money or equity-based loans, are designed to meet the needs of real estate buyers who
can’t use traditional financial products. Hard money loans are the best way to get started in real estate
investing whether you are a seasoned or first-time investor.
Here are the two easiest ways to get hard money to make real estate purchases:
1. Hard Money Loans – You can use a hard money loan to buy property. A hard money loan is a
specific type of asset-based loan financing through which a borrower receives funds secured by
real property. This is the most useful and fastest way of financing real estate property for those
who have low credit scores, insufficient income history, recent short sales or foreclosures or a
bankruptcy. The application process is very easy and can be funded within 5-7 days.
2. Family And Friends – You can also use your family and friends to obtain hard money. They may
have extra money they can lend. Many investor or individuals overlook their family as a way to
borrow money to buy homes. Although, this financing option completely depends on your
relationship with your family members and their financial strength or availability of money.
Conclusion:
Getting hard money from friends and family is quite difficult because it requires more works to convince
them. Also, many individuals and investors won’t prefer to take money from their friends or family
because they don’t want to disclose their real estate planning. After all, hard money loans are most
useful and effective way to purchase property as its fast and easy.
For more information about your hard money loan options, Call Us at (310) 734-4044 or Email at
info@magnaloans.com or Visit www.magnaloans.com