Posts Categorized: Credit Tips

Private lending is an invaluable practice that has existed since time immemorial. The first mentions of it date as far back as when Mesopotamia was still a country on the map. Today, this practice is flourishing across the United States. California is no exception to the rule! Private lending, especially in urban neighborhoods, plays an important part in their revitalization. Keep reading to learn why private lenders are the unsung heroes of local communities. Infill Development We’ve all seen abandoned properties with dilapidated signs. This often happens when small businesses close down, forcing owners to move out. These buildings aren’t eyesores. Rather, they are treasure…
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Finding the right financing solution can be challenging when investing in real estate or expanding your business. Traditional lenders often have strict requirements and lengthy approval processes, making it difficult for many individuals and companies to access the funds they need quickly. Private hard money lenders in California offer a fast, flexible, and reliable alternative for those seeking financial support. Fast Approvals and Quick Funding Private hard money lending considers the urgency of your investment needs. Unlike traditional lenders, who may take weeks or months to approve a loan, hard money financing streamlines the process to ensure quick approvals. With extensive experience and in-depth knowledge…
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If you are a real estate investor in California looking for quick and flexible financing options, hard money loans may be the way to go. You can use hard money loans to fund your investment projects as a short-term financing option. Unlike traditional bank loans, hard money loans are funded by private lenders or investors and typically have higher interest rates and shorter repayment terms. However, not all hard money loans are created equal.   There are several types of hard money loans, each designed to meet a specific need. Keep reading to explore different types of hard money loans in California that every investor…
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A hard money loan is a loan that is given based on the value of an asset, such as property. Hard money loans come from private investors or companies, rather than banks. The terms of a hard money loan are usually shorter than a traditional loan, and the interest rates are higher. You may wonder if a mortgage lender should review such a loan first. Quick Approval One of the benefits of a hard money loan is the fast turnaround. If you need money immediately for an emergency purchase, repairs, or buying a home without a mortgage loan, a hard money loan lender can approve…
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According to BadCredit.org, roughly a third of Americans have a poor credit score. One of the disadvantages of having poor credit is that it can be difficult to get approved for a loan by a bank or traditional financial institution. This is where private money loans can help.   What are Private Money Loans?   As the term suggests, a private money loan is essentially money you can borrow from a private organization or lender who has financing options to help you make a large purchase. As mentioned, private money loans are usually a viable option for individuals who have been denied credit by traditional…
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Having bad credit can leave you in a state in which you feel hopeless and incapable of doing much. It’s important to improve it as soon as you can so that you can access more opportunities, so read on to see some of the ways in which you can stay competitive despite having poor credit. Buy the Cheapest Car You Can If you absolutely need to have a car due to work or some other commitment that makes it impossible to live without a car, go for basics. Apply for owner occupied loans if you have a property, and get the cheapest car you can…
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The end of 2021 saw a boom in the US housing market and the trends seem positive for sellers for most of 2022. As we enter a new year, what are the trends to look out for? We had a closer look. Mortgage Rates Will Rise There is no doubt that record-low mortgage rates fueled the housing frenzy of 2020 and 2021. Some believe that this was the most important factor in the housing boom. But prices are rising. The Mortgage Bankers Association expects average interest rates on 30-year loans to reach 4% by the end of 2022. That is not such good news for…
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There are many reasons why a hard money loan is considered a last resort. The borrower is required to use their own property as collateral rather than their credit. This loan type also tends to be more expensive than others. The closing cost and origination fees cost more and its interest rates also tend to be higher. Then there’s the down payment which usually falls between 30-40% of the overall loan. As a whole, a hard money loan requires a lot of risk to fall on the borrowers rather than the lenders. Benefits The borrower can still benefit, however. Getting approved for a hard money…
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As the cost of living continues to rise, investing in real estate has become one of the best ways to build wealth. But, not everyone is familiar with how to purchase a property or is knowledgeable about a hard-money loan. Not only does it take time and money, but it also takes knowledge and skills. If you’re ready to start investing, these three steps will help you get started. Understand the Process: To get started, understand the process and what you need to learn. To invest in real estate with a hard money loan, there are three steps to take: 1. Choose an appropriate property…
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Property ownership is a key part of the American dream, but making it happen can be more challenging than you anticipate. Having an investment property that you can buy cheaply, renovate and flip for a profit is another common dream. However, since one in three Americans struggles with poor credit, many ordinary people are not able to take advantage of the opportunities they see in front of them. Without approval for a loan or mortgage from a traditional bank, there is no way for them to take on a home remodeling project that can provide them with a nest egg they can save for the…
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