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Types of Commercial Hard Money Investing

FL Commercial Hard Money Loans | Florida Private Property

The key to obtaining a commercial hard money loan from Shop Commercial Mortgage is to have clear equity available in a commercial property. This can include apartments, office buildings, warehouses, restaurants, hotels or motels, and so forth. Typically the borrower has a paid-off property, and the commercial hard money investment becomes a new first mortgage on the property.

Why use commercial hard money investments Perhaps you own an apartment building that needs renovations. You have regular rental income on the property, but your credit rating is not ideal. Hard money investors are less concerned about your credit rating than a commercial bank. They are securing their investment with the building’s equity. They are also less concerned about income or tax returns as long as you can show the ability to repay their investment. A big advantage of using hard money investments is the ability to close in two to three weeks versus months for commercial lenders.

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Shop Commercial Mortgage typically limits the LTV, or loan to value ratio, to 50% with some exceptions. Therefore a one million dollar property can obtain a loan of up to $550K. There are also opportunities for subprime or Alt-A loans where the borrower has credit ratings into the 600s, but for any number of reasons have been turned down by the banks. Subprime investors can offer up to 65% LTV for selected borrowers.

Another option is a bank statement loan, where the investors look at the last year to two years of your bank statements. In this case, the investors may wish to see both business and personal bank statements to ensure your ability to make payments. LTVs are typically 55% with bank statement investors. We also have opportunities for foreign investors who cannot obtain commercial loans. We will look at collateral and income statements.

If you have equity in a commercial property but need short-term cash for improvements or other reasons, contact Shop Commercial Mortgage today. Our investors are looking for borrowers who cannot obtain commercial bank mortgages and are willing to pay a higher interest rate for loans not exceeding 10 years. Contact Shop Commercial Mortgage today for more information.

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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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