California Hard Money Lenders — An Alternative Source of Financing
SAN FRANCISCO, Aug. 1, 2013, The real estate market is hot, very hot, and both investors and consumers are in need of financing to take advantage of the real estate market. An increasing number of individuals and companies are turning to hard money lenders, such as All California Lending, for financing their California property acquisitions. This is especially true when the property is in need of repair. Purchasing properties in need of repair is becoming more common as the inventory available on the market continues to stay tight. As hard money loan specialists, this company is able to assist in the financing of real estate even in cases where the banks have declined the buyer a loan due to needed rehab or repairs on the property.
The loans offered for properties in need of rehab are truly unique in today’s market. While these loans are not long-term solutions, they do include funding for acquisition, rehab and even interest payments. With new guidelines these loans can fund up to 65% or more of the estimated after repair value, commonly referred to as ARV. With loan terms ranging from six months up to two years, the structure is flexible enough to accommodate not only light rehab projects but also construction completion and major rehab projects on residential, commercial and multi-unit property.
One area of particular interest is Los Angeles and surrounding areas. Hard money lenders in Los Angeles often times are making loans based on the purchase price. With the programs All California Lending offers, however, more aggressive lending is realistic. For investors who are looking to leverage their existing cash, these aggressive loans based on an estimated sales price at completion allows for the additional leverage they need.
In addition to the Los Angeles market, All California Lending can help provide financing for rehab loans in most other markets of California. From San Diego all the way North to Sacramento and the North Coast, as long as the property is located in California there is likely an alternative financing option available.
With the California real estate market so hot right now, hard money lending offers many benefits. These benefits include faster closing times than conventional loans, flexible underwriting requirements, aggressive loan amounts and creative solutions that bank lending simply cannot compete with. While the cost is more for these types of loans, they make sense for many investors in the market today.
Chris Goulart is a seasoned professional and only works with California hard money loans. He specializes in structuring alternative financing for real estate investors and has years of experience. He is fully licensed both at the state and at the national level through the Department of Real Estate and the Nationwide Mortgage Licensing System.
Acalending.com
Media Contact: Chris Goulart, All California Lending, 877 462 3422, cgoulart@acalending.com
SOURCE:
All California Lending
http://www.acalending.com