You aren’t the only one who is having a tough time financing commercial property under $1 MM. Banks just aren’t lending right now on the following types of property: · Mixed-Use Commercial under $1 MM · Multi-Family Commercial under $500K · Retail Commercial under $500K Even if the prop...

Many of my private lenders have already unleashed their loan programs for 2010.  Many of these loan programs have more favorable interest rates than some programs we’ve been seeing in 2009.  And with all types of real estate being offered at 35 to 55 percent of its value, hard money even turns o...

Twenty years ago, private money or hard money interest rates were well into the 35% range–the same rates that, these days, only credit card companies have been able to get away with.  Well, until now. Even with the credit crunch, the highest interest rates in hard money have typically loom...

Many people cannot underestimate the value of a qualified broker when it comes to private or hard money loan requests.  I always use the comparison between a good broker and a good attorney.  The analogy is presenting a deal for funding to the lender compared with presenting a case to the judge an...

Credit is getting tighter and tighter. Many people say it’ll NEVER go back to the glory days of 2005 and 2006 when banks were just giving money away. But why is credit so tight? There are so many reasons, but one of the biggest reasons is that no one is buying the paper they were buying even 6...

Although we are experiencing turbulent times in the current real estate market, there is plenty of opportunity.  For both lenders and borrowers within the space of private and hard money, these times will be some of the best of times. For hard money lenders, their success depends on the strength an...

Especially lately, I feel like I’m on a soap box about the importance of choosing the right private money lender for your specific situation or deal.  With so many lenders to choose from, you really have to make sure that your interests in the deal are met.  Because each real estate deal is ...

A private money lender won’t even look at your loan request unless you first have an Executive Summary. What is an executive summary? What is the definition of an executive summary? Well you can start with Wikipedia and that will give you a variety of formats for an executive summary.  Howeve...

I found this article online back in January and bookmarked it. I found a few interesting tidbits in the article that I wanted to share in this post. One of the largest, private money industry players reported a 30 percent increase in applications from the year before and a smaller lender reported a ...