In many cases, working with a private money lender is an excellent way to acquire the funding needed to purchase real estate. This is especially true in cases in which time is of the essence. The ability to obtain funding quickly and move before other investors spot the same opportunity is a critical advantage in the commercial real estate market. Hard money lending arrangements are designed to provide you with fast approvals and disbursements on your loans. When considering private money lending arrangements for your next real estate acquisition, bear in mind a few points when making your decision.
A Partner in Your Efforts
Private money lending companies typically act as a partner to your company. This means that they work with you to determine your precise needs and provide a loan that works for your needs. If rapid decisions and disbursements are most important for your current situation, your private money lending institution will look for solutions to get your funds available as quickly and efficiently as possible. If you require specific terms, a hard money loan is typically the most practical choice for customizing your financial arrangement to suit your needs.
Hard Money Lenders Look at Different Criteria
Hard money lending is generally viewed as an art and not a science. This means that your lender will look at the value and viability of your investment rather than concentrating solely on your past business credit history. Because your private money lender uses different criteria than traditional lenders, they typically provide a better approval rate and improved speed of processing for your loan. This will often serve as a solid basis for increased profitability in the real estate marketplace.
Working With a Trusted Lender
Finding the right private money lending arrangements requires a level of trust between you and the company you choose. An established private money lender will typically have existing relationships with investors who are interested in funding projects just like yours. This will make it much easier to deal with the lending process and acquire the right funding arrangements for your real estate investments.
At Texas Funding, we have been an established private money lending company since 1982. Our experience and expertise make it easier for us to process your loan more quickly and to promote the best outcomes for our investors and for your real estate project. We offer short-term private loans and collateral-secured lending arrangements designed with your needs in mind. Call us today at 1-800-833-0138 to discuss your lending needs with us. The Texas Funding team is ready to serve you.