We have taken the next step in Real Estate and Brad is a certified Private Money Broker with access to millions of dollars for the private money borrower. If you need cash for an investment, tell me about it and I will find you the money!
So I did this myself this year. I purchased a Fix in Flip in North Denver. And to do this I borrowed some hard money. I did alot of the work myself, even hiring a local contractor to finish some of the finer details. And we got it done! It is going on the market this month! Stay tuned and I will show it!
Hard money is a term often used to describe a funding stream originating from a gover A hard money loan is a type of loan that is secured by real property. Hard money loans are considered loans of "last resort" or short-term bridge loans. These loans are primarily used in real estate transactions, with the lender generally being individuals or companies and not banks.
Hard money loans have terms based mainly on the value of the property being used as collateral, not on the creditworthiness of the borrower. Since traditional lenders, such as banks, do not make hard money loans, hard money lenders are often private individuals or companies that see value in this type of potentially risky venture.
Hard money loans may be sought by property flippers who plan to renovate and resell the real estate that is used as collateral for the financing—often within one year, if not sooner. The higher cost of a hard money loan is offset by the fact that the borrower intends to pay off the loan relatively quickly—most hard money loans are for one to three years—and some of the other advantages they offer.