“In the middle of adversity, there is great opportunity.” -Albert Einstein
The Coronavirus pandemic has turned our lives upside down. In what felt like the blink of an eye, the entire U.S. economy effectively shut down.
It is easy to feel anxious and uncertain about the future. This is perfectly understandable since there is in fact not much certainty about what will happen tomorrow.
Nevertheless, it is important not to dwell on negative thoughts and become paralyzed with fear. Remember – the challenging moments in life also present the greatest opportunities to learn and grow as an individual, an entrepreneur, and an investor. Hence, if you are interested in pursuing that fix-and-flip project or investing in real estate, now is not the time to sit on the sidelines. Now is the time to analyze the market and make smart, strategic decisions on how to best position yourself for maximum gains.
Hard Money Lenders Can Help
If you are looking to purchase a piece of property in or around Los Angeles, a viable strategy for completing this transaction is securing a hard money loan. This remains an option, even with the economy on a downturn due to COVID-19.
If you want to apply for a hard money loan, you should compile the following documents in preparation for the application process:
- Address of the Targeted Property
- Scope of Work for the Project
- Anticipated Purchase Price
- Anticipated Rehab Expenses
- Your Exit Plan
- The Estimated “After Repair Value” (i.e. ARV)
In addition to the above items, and to speed up the process, you will also want to include the following information:
- Comparable Properties in the Areas That Substantiate Your Listed ARV
- Any prior experience with real estate investment or rehabbing properties
- Potential profit margins for the project
One of the big advantages to pursuing a hard money loan in Los Angeles from a reputable firm like PB Financial Group, is trust and quick turnaround time. That is a stark contrast when compared to traditional banks where you could be forced to wait weeks or months for a response.
Now is the time to be proactive and if you are interested in purchasing a piece of property in or around Los Angeles, contact one of the premier hard money lenders in Los Angeles, PB Financial Group today at 877.700.3707 or visit www.CalHardMoney.com to learn more.
At PB Financial Group Corp, we have been providing quick funding since 2006 and have funded over 2000 hard money/private money loans helping our clients with valuable property acquisitions, development, bankruptcy discharges, probate resolutions, and so forth.
PB Financial NMLS #357614/DRE #01522495