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Many lenders are more interested in making money off you than the success of your real estate investment. At CREFi, we believe in putting you in contact with lenders who actually care about your project and focus on win-win solutions. CREFi carefully vets all its partners to ensure you are only working with industry-proven reputable lenders.
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The most common questions about commercial real estate loans
Typically, a person who owns commercial real estate is looking for someone to rent out the property. This can be a win-win situation for both parties because the property owner is collecting rent while the tenant does not have to worry about issues like property value, property upkeep, and long-term property ownership. Given that the amount of real estate will never increase (the world isn’t getting any larger!) by using the right investment criteria, real estate has been proven to be one of the safest assets classes to invest in.
The kind of commercial real estate you need depends on what your investment goals are. If you plan to travel the world and don’t want to manage your investment, investing in Triple Net properties may be for you. However, if you want to be actively involved in your investment and maximize profitability, multi-family properties may be right for you. It will all depend on your lifestyle and investment criteria.
A hard money loan is a private agreement between two parties that is collateralized by real estate and has a set interest rate and term length. Hard money loans are different from traditional loans because the lender is a private individual or company who is not subject to the same government regulations traditional lenders like banks are. Hard money loans are therefore less restricted than traditional loans and can be used to fund riskier projects, although there is typically an accompanying higher interest rate.
The amount of deposit you need to put down to get a hard money loan can vary by the value of the property you are trying to buy. Usually, lenders will ask for around 30% of the total value of the property.
Most hard money loans are collateralized by real estate. The amount of equity required from the borrower is around 30% of the total value of the property you are trying to buy or refinance. Some loans may require a personal recourse agreement to protect the lender in case of default.
The loan-to-value percentage is the ratio of a loan to the value of an asset purchased or refinanced. Example: If the property’s value is $100,000 and the loan is for $60,000 the loan-t0-value is 60%. Hard money lenders will often use this percentage as a measure of how much risk they are willing to undertake in case the borrower cannot pay back the loan, the value of the property drops, etc.
Hard money lenders are private individuals or companies looking to invest their money and get a higher return than they would by letting the money collect interest in a bank. Given that real estate prices have gradually risen through history, they feel comfortable knowing their money is collateralized by a reliable asset.
We have been working with hard money lenders for a number of years. Let us know about your real estate project and requirements – we can connect you with legitimate hard money lenders who will work with you to make your real estate investment a reality!