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If “Hard” Money Alternative Financing is Something You are Looking For, You’ve Got to Read This ASAP!

Florida Commercial Hard Money Loans | FL Private Investor

There may be times when you need money sooner rather than later and the commercial banks let you down. This may be the perfect opportunity to consider hard money investing. You obtain your money fast, typically in two weeks or less, and the paperwork requirements are far less onerous than required by the banks.

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Hard money can be useful when rehabbing a property to be sold immediately after, or when the rehabbed property will be refinanced later. If you have less than perfect credit but good equity in the building itself, you may be a perfect candidate for hard money investors.

If you are considering hard money for your property, there are some things to keep in mind:

  • Interest rates are higher than a commercial bank because our investors are accepting a higher risk for their investment.
  • Loans are typically for 1-2 years or less. Hard money is not normally considered a long-term financing option.
  • Although credit rating is not considered as highly by investors as would a bank, you should be prepared to disclose it.
  • Hard money loans are secured by the equity in the property so borrowers must show clear title or very little residual debt to secure a hard money loan.
  • Hard money investors will not normally be interested in properties that are highly leveraged.

If you have tried to get money from the banks for short-term use and your credit rating is less than stellar, contact Shop Commercial Mortgage and discuss hard money loan opportunities. We have investors ready to help you with your short term loan needs so give us a call today.

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"I just closed a commercial loan in St. Petersburg. A 16 unit apartment complex for $100,000 at 11.5% interest. It was a free and clear equity driven low documentation refi with no appraisal so it closed fast!"

Mikle / Broker


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