You’ll need to put a lot of time into saving enough to invest in real estate. Fortunately, Florida is home to reputable private money lenders who can quickly convert your desire to invest in real estate into a reality. Private lenders, unlike traditional banks, have a different approach to working with their customers. Here are four reasons why you should consider working with a private money lender.
Fast acceptance is one of the standout advantages of a hard money lender. With a private money lender, you won’t have to wait weeks for your funds to be processed like you would with a bank. These loans will appear in your account in less than a week, so long as the given collateral satisfies the minimal liquidation value standards.
No Additional Fees
There will be reams of documentation for you to sign when you borrow money from banks. It is a difficult chore to read through these pages, and you might not be aware of the additional costs they include. On the other hand, any reputable private money lender will let you know about any applicable fees before you sign any paperwork.
No Need To Worry About Credit Score
Credit scores are less important to hard money lenders in Florida. Hard money lenders rely on your equity in the property rather than your credit history.
Opens the Door to Negotiations
Private money lenders are available to help you take advantage of the opportunity as quickly as possible. You will be in a stronger position to negotiate the price of the property because of their quick approval rates. Additionally, you can buy the property while the price is still low thanks to the quick processing of hard money loans.
Monroe Funding Corp has a wealth of experience and knowledge to help you reach your investing goals. To learn more about Florida Commercial Real Estate Loans, contact us online or by phone at +1 (954) 419-3539.