Hard Money Lenders Los Angeles RTI Bridge Loans
Are you a real estate investor or property owner in need of fast hard money? RTI specializes in hard money lending in Los Angeles, California. Hard Money Loans are fast money loans secured by real property, and it’s an easy way to borrow without using slow traditional bank lenders. RTI specializes in quick solutions for financing a real estate purchase, whether you don’t qualify for a traditional bank loan or you’re simply looking for quick hard cash. Serving the greater Los Angeles, RTI Bridge Loans is here for all of your financing needs.
Fix And Flip Loans Los Angeles
The market in Los Angeles is absolutely huge for fix and flip projects. Fix and Flip Loans are a type of Hard Money Loan that investors utilize in order to buy a property, renovate it, then sell it for a handsome profit. The Hard Money Loan is short-term. Call RTI Bridge Loans in Los Angeles to learn more about how you can start your own fix and flip project with the help of a Fix and Flip Hard Money Loan.
Private Money Loans Los Angeles
RTI Bridge Loans is a direct Private Money Lender in Los Angeles, CA. We finance Private Money Loans for property owners and real estate investors in the surrounding areas of greater Los Angeles. RTI also provides Commercial Private Money Loans for a wide array of commercial property types in Los Angeles. With over 30 years of experience, RTI Bridge Loans has your back when you’re ready to begin investing in Los Angeles real estate.
What Exactly Is A Hard Money Loan?
Hard Money Loans are a way to borrow money fast without using traditional mortgage lenders. The loans come from investors or companies who lend money based on your collateral (the property you will be using). Hard Money Loans are a very quick solution for financing a real estate property when you don’t qualify for traditional bank loans, or you don’t want to spend the time waiting for one. These are short-term loans (generally lasting around one year), and you won’t have to jump through hundreds of hoops to get one.
Advantages of Hard Money Loans
There are so many reasons why serious real estate investors opt for Hard Money Loans to finance projects or property rather than using traditional bank loans. Usually, Hard Money Loans don’t require credit checks because lenders are more concerned with the property you are using as collateral. Check out the top benefits of using Hard Money Loans below.
Though every Hard Money Lender has their own terms and conditions in order to loan money for real estate projects, most lists aren’t very restrictive. Compared to conventional loans, Hard Money Loans are relatively easy to attain. For this reason alone, Hard Money Loans are much more flexible, and they allow investors to even change goals midstream if they need to.
Compared to traditional loans from major financial institutions, Hard Money Loans are acquired much quicker – we’re talking two weeks max for most cases. Since credit checks are rarely required, the process moves much faster than it would at a bank. The Hard Money Lender basically decides whether you are presenting a good or bad deal, and will lend you the money based on that decision.
For investors, leverage is everything, and Hard Money Loans provide tons of leverage for investors. In fact, most investors enter projects without even putting their own money at risk while remaining liquidity.
The benefits of using Hard Money Loans are outstanding, and RTI Bridge Loans is there to help you figure out which option is best for you and how to take the next step in your Los Angeles real estate endeavor.
Limitations of Hard Money Loans
There are a few limitations of Hard Money Loans that people find unattractive, simply due to the fact that they can be kind of risky. Check out the top reasons why people are nervous about using Hard Money Loans below.
- They are typically seen as a “last resort.” If you don’t qualify for a traditional loan, usually Hard Money Loans are the way to go. Depending on your situation, Hard Money Loans are typically seen as a last resort. Experienced real estate investors know that you have to act fast when purchasing a property, and Hard Money Loans produce money much quicker than traditional loans.
- You’ll have higher interest rates. Hard Money Loans have interest rates that are usually in the double digits because the money is given much quicker than traditional loans, and they are short-term only.
- Lenders can take advantage of the loan terms. If you happen to default in payments, the lender may sell your property collateral to get their funds back. If you are unable to make your payments as agreed, the terms of the loan will not restrain the lender from selling your property.
- Credit scores don’t matter – collateral does. Creditworthiness tends to not matter much because lenders are more interested in the collateral (the real estate property itself) because it is being used as a guarantee that you will pay the Hard Money Loan back.
- It’s all-around risky for both you and the lender. Let’s not sugarcoat this – if you aren’t 100% sure you can pay the loan back, it’s best not to opt for a Hard Money Loan. Both you and the lender take a risk when signing the papers, so have an amazing plan of action to repay.
Contact RTI Bridge Loans in Los Angeles, CA, at (562) 857-2285 for any questions or concerns you may have regarding the limitations of Hard Money Loans.