The real estate market is a complicated world but can pay big dividends if calculated and developed appropriately. Many individuals throughout history have made their fortunes by investing in properties or developing areas of high growth as population centers continue to flourish across the country. Big cities have always been the epicenters of financial being, providing a wide array of investing opportunities within the real estate realm but other areas have also established quite the bankroll through purchasing different type properties or even just land.
Property types vary widely and those who have the means to venture into the real estate market can utilize their expertise depending on which options they choose. Typical residential opportunities for single-family homes make up a large portion of the market but other types of deals exist with even higher earning potential. Commercial, land and non-traditional places provide more investment potential. These include places similar to storage facilities, strip malls, apartment complexes, industrial parks and many other types of structures.
When looking to invest in these there are many factors to consider. Understanding why investors use hard money loans
is critical to knowing how to benefit from the process. One of the main features to consider is often the timing of a deal and hard money loans are a much quicker process than that which is required by banks or more traditional methods. Timing is key and utilizing the process can be pivotal but knowing how and when to invest and finding the right opportunity is important.
Some projects will begin but prior to completion, original funding falls through leaving an incomplete scene but providing a chance for another investor to take over with a new source of income. These circumstances are often ideal opportunities for someone with good timing and fund capability which can be maintained and administered within a reasonable timeframe. Hard money lending can help to provide the answer for each of these circumstances and is extremely beneficial when your back is up against a wall. The reasons for an almost immediate availability revolves around the process for which hard money lending takes place.
Instead of speaking with a broker, who will then have to take an application to a board or another individual, when contacting us you will always speak with a direct lender. Eliminating this extra step in the process allows for a faster turnaround time and almost immediate notification of your fund availability. The application process is quick and easy but with every loan being of a different variety, specific care is given to each and every request.
Often the need for an appraisal of the property can also be avoided with a hard money loan. As with any type of real estate, these evaluations take up time. Getting on the schedule and then making sure the report is submitted in a timely manner can drag out the process in addition to adding other potential shortfalls which could arise from such an evaluation. With hard money lendings the equity available in the property itself can potentially serve to assist in the monetary needs and thus allow an appraisal to be passed.
Not only will the scheduling of such an event delay or potentially derail a transaction but the cost of having a separate appraisal will serve to add an unnecessary expense to the deal could it be avoided. This not only helps to speed the process but also saves money for all parties involved in a specific contract because the money will not be spent on an action that pushes back the date of close for potentially weeks.
Instead, once a term sheet has been issued and signed by the borrower, a site visit will be scheduled to ascertain the use and equity in the property. This takes place almost immediately and serves to speed up the entire process considerably for everyone. Following a successful site visit, a title company then issues insurance and the loan will close and fund.
All dealings with more traditional funding sources in property, especially commercial real estate can take months for the deal to be completed. The association with all involved parties, inspections, appraisals, and organizing everyone to be on the same schedule only extends the timeline, even if executed appropriately. For hard money lenders, the process from initial contact requesting more information specific to your desired transaction, all the way to closing and having a properly sourced commercial deal completed can normally be finalized in just one to two weeks.
Needs from $50,000 to $3,000,000 are easily funded through our process which is an amazing turn around for such an amount. However, no loans for consumer or personal and family use are administered. Instead, the focus is on commercial or investment properties and land loans. These provide the best opportunities for investors and when needed in a timely manner can be fully funded and closed in a short timeframe.
For over a decade the people of COHI have been funding transactions across Colorado and Hawaii. Taking time to give special detail and attention to each individual loan, type and application allows for a personal commitment to excellence and eases the tense stress that is often associated with any type of purchase within this magnitude. Time only adds to the strenuousness of such a deal and knowing that your application or request for information will be answered quickly followed by a smooth and efficient funding process all the way through closing allows you to enjoy the purchase instead of being worried about the inner workings and mountains of paperwork behind the deal.
If you are considering investments within any commercial property type divisions, are in need of a hard money lender, or are ready to move forward with a contact, then come see the experts at COHI Capital Private Equity Lending
who can help you determine and analyze your individual needs. After their free consultation, quality lenders can offer meaningful advice and help to set up a beneficial plan immediately for all involved parties in order to achieve the goals of everyone involved in the process. Whether the monies will be needed for refinancing or outright purchase, the best plan available will be applied specifically to your application. They will decide what type of loan will work best for you drawing on experience and benefits of finding successful funding needs for over a decade. A full detailed review of your situation can be completed in addition to resolution issues and monetary considerations. Request some additional information by contacting COHI today. Call 970-922-3277 or contact us
for a decision. Often these are made the same day and can be addressed depending on client needs and schedule.