There’s been a trend in real estate and it has been in the way buyers and moguls alike are financing their investments. There are an increasingly amount of real estate buyers turning to hard money lenders instead of traditional banks when it comes to financing their purchases, a dramatic shift in the way financing has been done in the last few decades. It wasn’t long ago when hard money lenders had a bad wrap for being shady and questionable, but nowadays, the tide has turned, and these private money lenders have earned a sterling reputation that even surpasses those of big-name banks.
➢https://geltfinancial.com/lending/hard-money-loans | 561-221-0900 Jack Miller covers information on hard money lending (hard money loans or mortgages). Gelt has been helping commercial real estate and investment borrowers since 1989. When your bank says NO, we say YES!
Flexible Structuring In Hard Money Lending
For those in the game of commercial real estate, it’s all about what type of financing you can obtain and how it’s structured. Private money lenders in the business of hard money lending have a serious advantage over traditional banks in the fact that they are not obligated to follow strict, cut-and-dry financing structures. Hard money lenders can be flexible in terms and competitive in their interest rates, making them all the more valuable for commercial real estate loans.
Take on Creative Commercial Investments With Hard Money Loans
Banks will often turn their noses up at creative commercial investments and limit or outright refuse to take on unique projects because of the risk. For private lenders, this is their wheelhouse, and they take on creative investments with as much enthusiasm as the buyer. Not only does this allow for commercial real estate to flourish in unexpected ways, but it immensely contributes to the overall community, allowing for projects that may not have seen the light of day by means of a bank.
Quick Loan Response Times
Commercial real estate is as competitive as it is fickle, and experienced buyers know that they can’t wait around for weeks on end waiting for a bank to approve their loans. Hard money lending allows for quick response times. Now, commercial real estate investors can swoop in and lockdown that prime real estate in no time at all, ensuring that their special projects have a physical place to grow thanks to their hard money lender behind them.
Expansive Commercial Real Estate Knowledge
Private money lenders like Gelt Financial, unlike banks or other traditional modes of financers, have a vast knowledge of their surrounding community, which includes the real estate opportunities available to them and their buyers. These hard money lenders have become so prevalent in the financing world nowadays not only because of the numerous other advantages, but because they’re involved in their communities and are able to serve as a valuable source of knowledge for those looking to invest and finance those investments.
No Sacrificing in Security & Legalities With Hard Money
It’s all too good to be true, right? Wrong. Hard money loans and hard money lenders do not sacrifice the most important part of traditional financing when it comes to their private lending practices: security. All the rules are still followed to the legal letter, therefore buyers are protected under laws, secured by documentation, investigations, and other means. It’s not simply for the buyer, either. Security is there for the hard money lender, too, through escrow accounts, title searches, and methods commonly seen followed by banks.
Commercial real estate will always be a staple in the ebbs and flows of the market, but with hard money and private money lenders, the market is changing for the better. More and more buyers are seeing their dream projects spring to life, ones that were turned down by big-name banks, and communities are becoming more diverse, engaged, and dynamic thanks to this revitalized method of financing.
Contact Gelt Financial today for all your private funding needs!