ASSET BASED LENDING SOLUTIONS FOR THE GREATER LAKE BUENA VISTA, FL AREA
The city of Lake Buena Vista in Florida is most famously known for being the mailing address of the world-famous Walt Disney World, although the actual theme parks and resorts are located in the neighboring city of Bay Lake.
Due to all these attractions within the city, businesses nearby have the chance to capitalize on the booming tourism industry. Hard Money Loans Solutions can help you find financing solutions with no credit checks if you want to capitalize on an opportunity to invest in your own recreational or tourism business.
The Types of Properties That Benefit from Hard Money and Bridge Financing.
Hard money and bridge financing are often used for short-term loans that provide temporary solutions to a borrower. These types of financial tools can be particularly effective with commercial properties, as it is difficult to obtain traditional bank funding on certain assets due to the duration of projects or lack of sufficient collateral. The following list provides some examples:
Property Development: If you have an income property under renovation, which is expected to deliver returns upon completion, then hard money financing may help cover gaps during development until your future tenant pays rent. Bridge financing may also work well if you plan to return funds from one project into another more profitable purchase.
Asset Acquisition: A buyer looking for a particular type of asset might use these borrowing methods to secure the property they want.
Fix and Flip: In a perfect world, an individual looking to flip houses would find properties with high returns on the purchase price as well as low operating expenses. Hard money loans allow investors to complete these deals without bank funding or putting down large sums of their cash up-front. With bridge financing, you may also be able to secure multiple transactions by borrowing against future acquisitions.
What Are the Advantages of Using Hard Money?
There are many reasons to use a hard money loan, but some of the primary advantages include:
Quick access to cash: A hard money loan can be a great option when you need money fast. The approval process is typically much faster than with traditional lenders, and you can receive your funds in as little as seven days.
Flexible terms: Hard money lenders are often more flexible than traditional lenders regarding term length and interest rates. This can help you find a loan that fits your needs perfectly.
No prepayment penalties: If you can pay off your loan early, you won’t have to worry about any prepayment penalties.
Private lenders: Hard money is funded by private lenders, which means you won’t have to deal with the red tape associated with traditional loans.
Quick approval process: Since there isn’t much paperwork involved when applying for these types of loans, you can receive your money quickly.
No credit or income requirements: You don’t have to prove that you make a certain amount of money to qualify for a hard money loan. And since no debt-to-income ratio is required, even those with poor credit scores may be able to secure financing from these lenders as long as they meet the other criteria.
What Else You Need to Know About These Loans Specifics
Loan Amounts:: $100K – $50M+
Loan Types: Single Family, Multi-Family, Bridge Loans, Real Estate Acquisition, Short Sales, Construction Loans, REOs, Bank Foreclosed Properties
LTV: Up to 75% of the as-is value or purchase price (whichever is lower)
Term: 1 – 5 Years
Rate (APR): 6.99% – 12.00%
Closing: 1 – 2 Weeks
Amortization: Interest only
Don’t wait! Get in contact today.
If you are looking for a reliable and experienced source of hard money and bridge financing around Lake Buena Vista, FL, look no further than Hard Money Solutions. We offer a variety of loan products to meet your needs, including commercial hard money loans and traditional hard money loans. Contact us today to learn more about how we can help.
Note: All submitted information is kept in strict confidence and used solely for the purpose of obtaining a hard money loan and/or bridge loan. We do not share your information with any third parties without your consent.