Benefits of Using Hard Money

Hard money lenders are able to approve and fund a loan much more quickly than traditional lenders such as banks. They do not require as much documentation because they are primarily concerned about the value of the real estate being used as collateral versus the credit and income of the borrower. Hard money loans often provide more leverage than conventional loans, allowing borrowers to rely less on their own or outside investors’ capital.

WHY CHOOSE BAY MOUNTAIN CAPITAL?

Welcome to Bay Mountain Capital – your source for both capital and real estate expertise. We’re a direct lender that provides financing to real estate investors that is easy to obtain and quick to close. Our principals here have extensive experience in all facets of real estate, so we can frequently add value to your investment decision making process.

Bay Mountain Capital has been making loans since 2009, and since then we’ve made loans on more than 1500 residential and commercial properties. We fill an important niche for real estate professionals who, for any of a number of different reasons, do not have the time, credit or capability of using bank financing. Our loans are based primarily on the completed value of your property, including any proposed improvements, which generally allows for higher leverage than a bank could offer.

Hard Money Basics

Hard money loans are expensive, designed to be short-term loans, and have loan amounts that are typically higher than conventional loans.

Loan Amount Calculation

Purchase price = $50,000

Rehab budget = $20,000

Total capital = $70,000

ARV = $100,000

70% of ARV = $70,000

Sources of Hard Money

• Specialized Hard Money Lenders
• Individuals or group of individuals
• Mortgage pool or investment fund
• Self-directed IRA
• Understanding the role of the “Loan Broker”

Right Situations for Using Hard Money

• “Distressed” properties
• When speed counts
• When used as a “bridge”
• For taking a “cash-out”

How to Get Texas Hard Money?

There are numerous hard money lenders available throughout the United States. The major Services provided by hard Money Lenders are rehab loans. Rehab loans are used in rehabilitation of homes. To get private money loans at low interest, visit Bay Mountain Capital for Texas hard money https://www.baymountaincapital.com/!