Real Estate based Hard money and Private money loans
. Which means loans that produce capital for “business purpose” borrowers secured against investment real estate. It is for borrowers who own investment real estate and want to either “pull equity out” by refinancing with a hard money / Private money loan or purchase investment real estate.
Borrowers use hard money loans or private money loans when they have an “opportunity” which require funding and they either can’t qualify with the bank, chose not to work with the bank or their situation does not allow for the bank to be an option. Here is a little more information on each scenario. An “opportunity” is created when the borrower finds a business venture which requires funding this typically, “fix and flipping” “land developing” “new construction” “purchase or refinance of a commercial building”. Once the opportunity is identified the borrower evaluates the needed resources and timeline to successfully close. Often, these opportunities come with a shortened timeline (less than 30 days) to close compared to the traditional timeline (30 - 120+ days) and is the reason for the opportunity in the first place, ie