Hard money lenders in Los Angeles offer a welcome relief from the usual complications that one experiences from standard lenders such as banks and other commercial real estate loan providers. One of the main differences is that hard money lenders are willing to fund substantial real estate loans at agreeable interest rates despite a borrower’s past credit problems. They are also able to finance loans for commercial investors in a timely manner- compared with other lenders- by partnering with reliable private investors who are as interested in the success of your property as you are.
Real estate investment and development is a highly competitive element of today’s economy, and investors recognize that time is of the essence in completing real estate transactions. This is one of the main reasons that hard money lenders in Los Angeles are willing to work with you in bringing your real estate investment needs to fruition. Many borrowers do not realize what an economic disadvantage they are at until they attempt to secure a loan through traditional financial institutions, only to find that some unfortunate past transaction has made it impossible.
Most traditional lenders will not partner with borrowers who may have experienced a bankruptcy in the past, or who may currently be going through a foreclosure or short sale. Traditional lenders will find such issues to be overly risky, and these issues will, generally, disqualify borrowers from the ability to procure adequate financing. Hard money lenders, on the other hand, don’t take such risks, such as foreclosures, tax liens, or bankruptcies into account in the determination of availability of loans. Instead, hard money lenders consider the equity of a property when determining whether a borrower qualifies for a loan or not.
By carefully assessing whether or not a property’s equity is sufficient for establishing a line of credit, hard money lenders make it possible for borrowers to receive loans. Hard money lenders understand the urgency with which many borrowers come to them; hence, they will work with borrowers to secure loans with agreeable structuring and terms.
It is easy for real estate developers to become discouraged when facing continual refusal by banks and other financial institutions while attempting to secure a loan. That is where hard money lenders become not only a trusted lender, but a partner in the borrower’s investment plans. Instead of surrendering when faced with discouragement, realize that there is still hope from hard money lenders such as PB Financial Group that are willing to take a risk on worthwhile investments.
PB Financial NMLS #357614/DRE #01522495