There is no doubt that the Coronavirus Pandemic has wrought financial turmoil for millions of Americans and disrupted virtually every aspect of our lives.Certain industries have been practically decimated due to government-imposed lockdowns, curfews, and an understandable anxiety by consumers to engage in certain activities (e.g., travel, eating indoors at a restaurant, going to a movie theatre, etc.). In the midst of this economic uncertainty, one bright spot is the continued strength of the real estate market. For example, public data indicates that home purchases remain strong in many areas of the United States. This is why hard money lending, including hard money loans in Los Angeles, continue to be in demand and are still able to serve as a source of capital for real estate investors and house flippers.
Benefits of Hard Money Loans
Some of the businesses that continue to actively serve Americans during these difficult times are real estate investors, especially home flipping investors. Fix-and-flip real estate investors continue to work tirelessly locating and renovating distressed homes. As a result, hard money loans in Los Angeles and throughout the country remain a vital source of capital in order to provide short-term financing options that can be relied upon to complete these renovation projects efficiently and effectively. Why? Because the inherent benefits associated with a hard money loan have not been significantly impacted by the pandemic.
Whether a borrower needs funding for a fast closing, cash closing, or flexible terms on a loan, there remains a persistent need for hard money lending. This is due to the fact that most hard money loans can be finalized in a matter of days, as opposed to the typical 45-to-60-day timeframe associated with financing from a traditional bank or credit union. In addition, the pandemic has not changed the fact that money loans are asset-based loans. This means your credit history is not going to be the deciding factor for getting loan approval.
Interested in a Hard Money Loan in Los Angeles? Contact PB Financial Group Today
If you are looking to secure a hard money loan for a real estate venture, take action by contacting PB Financial Group today. PB Financial Group is a premier direct hard money, private money and bridge lender, who has been providing quick funding since 2006 and have funded over 2700 hard money/private money loans. Our objective is to work to satisfy your financing needs on important real estate projects throughout California in an efficient and effective manner. To schedule a consultation please contact PB Financial Group at 877.700.3707 or visit www.CalHardMoney.com for further information.
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