Are There Any Disadvantages?
There is no type of lending that does not have any disadvantages. However, hard money loans have fewer cons than pros. Let’s review them.
High Down Payments:
Since you don’t have to possess a perfect credit score, lenders often look past bankruptcies and foreclosures. However, that also means you must settle for substantial equity or a high down payment (around 25 to 30%) in the property you own. That’s because the lender is taking a huge risk when lending you money, without taking your credit and bank history into account.
There is a reason why you may pay off your loan with a higher interest. Since the loans are short-term, the lenders must set a high interest-rate that usually sits between 9 to 15%.
A Short-term Last Resort Solution
Typically, hard money loans last from half a year to one year. Short-term loans are risky for both the lender and the investor. Hence, they are often a ‘last resort’ option for both parties.
If you want to know more about how hard money loans can benefit you, don’t hesitate to touch us. We are just a call away. Dial (310) 532-5008, and we will suggest the best type of loan that suits your lending needs.
Why RTI Bridge Loans offer the Best Hard Money Loans in Gardena, CA
We are proud to serve Gardena, CA, and surrounding neighborhoods in Los Angeles, CA. Here are some of the loan types we offer to our clients.
Gardena Hard Money Loan Types
As previously mentioned, there are many types of hard money loans that are made for different projects and funding situations. Call RTI Bridge Loans at (310) 532-5008 for more information on hard money loans in Gardena, CA.
Gardena Bridge Loans:
Bridge loans are a type of hard money loan that helps people who are trying to buy a new property but have yet to sell their old one. Bridge loans are quite literally a bridge between an old and new property, and when the old property is sold, the loan is paid back in full. This enables people to move into their new place without waiting for their property to sell.
Gardena Private Money Loans:
Generally, real estate investors use private money loans to buy a new property. We finance your projects and purchase a new real estate property by providing hassle-free private money loans. Whether you are dealing with commercial or rental properties, we help you grow your real estate investment business. Contact us today and let your project take-off.
Gardena Fix & Flip Loans:
Fix, and Flip loans are incredibly popular in this area because they allow investors to buy a property and sell it for a profit after renovating it. They can pay off the loan once they sell off the property. RTI Bridge Loans is happy to finance your fix and flip projects. Contact us today and start renovating a property to earn profits.
Dial (310) 532-5008 to get more information on hard money loans in Gardena, CA.
Work with the Best Hard Money Lenders in Gardena, CA.
RTI Bridge Loans boasts 30 years of experience and helps real estate investors benefit from the booming real estate industry in Gardena, CA. The reason why hard money lenders are becoming more in demand in Gardena, CA, is that they provide quick and hassle-free loans. RTI Bridge Loans make sure you receive your loan as soon as possible to fund your next real estate deal. Contact RTI Bridge Loans to might have about the find out more about lucrative real-estate opportunities in Gardena, CA.
Why Hire RTI Bridge Loans?
Over the years, RTI has focused on providing quality service to help real estate investors accomplish their goals. RTI Bridge Loans continues to enjoy soaring popularity in the real estate industry. A large percentage of our clients repeatedly come to us for their financing needs. We enjoy a solid reputation in the real estate industry as we provide quick and easy loans to our clients. By being efficient and responsive, we aim to serve our clients with the best possible solutions.
Now is the best time to invest in Gardena, CA. If you want to know more about how you can rule the real estate industry as a successful real estate investor, please contact us today. You can call us at (310) 532-5008 and discuss your needs, and we will try out best to recommend the best possible solution for your financial needs.
What you Need to Know About Housing Market Trends in Gardena, CA
Gardena, a beautiful town in California, has a population of 59,924. Residents love living in Gardena because the place offers a mix of modern and traditional. There are plenty of parks, coffees shops, and restaurants.
The real estate industry is booming in Gardena because it is a beautiful town to enjoy a peaceful life. Since famous freeways surround Gardena in just about every direction, it is also popularly called ‘Freeway City.’ The beauty of this diverse place lies in its lush gardens, premium-quality restaurants, and famous hoping malls, etc. People who want to relocate to Los Angeles can enjoy a blend of modern and traditional living at Gardena.
Gardena offers an affordable lifestyle to its residents. The median home price in Gardena is roughly $372,500, and the ownership rate is 50%. Some of the most popular communication within Gardena includes areas near Western Avenue, Artesia Boulevard, and 166th Street.
If you want to invest in the thriving real estate industry of Gardena, CA, don’t hesitate to contact us at (310) 532-5008. We provide loans to all ambitious real estate investors who want to benefit from the presently flourishing real estate industry.