The financial crisis in the US has sparked a renewed interest in alternate sources of funding. Banks have been unable to cope because of regulatory burdens, and the turnover is just not quick enough for retail borrowers such as house flippers. The hard money lending industry is capable of meeting both the demand in the […]
posted by JM on February 11, 2015 | No Comments on The Zombies are Rising!
Foreclosed properties that had been abandoned by owners before the banks could get around to them are called zombie foreclosures. These zombies present opportunities for flip-and-sell real estate companies for high profit. According to RealtyTrac, the average gross profit for a regular flip in the 3rd Quarter of 2014 is more than $75,000—not bad for […]
posted by JM on January 6, 2015 | No Comments on Is Hard Money Usury?
Let’s take the bull by the horns. Critics of hard money lenders often point out that the interest charged by hard money lenders violate state usury laws. In California, for example, there is a limit of 10% per annum allowable for personal loans or loans intended for family or household use. Some hard money lenders […]
posted by JM on December 12, 2014 | No Comments on Facts about Hard Money
California is a great place to live in; it’s sunny and warm, and the view can be spectacular. This can be a good draw for home buyers, which is why real estate is a great business to get into. Sometimes, though, cash flow can be a problem, especially when there are several ongoing projects. This […]
posted by JM on December 1, 2014 | No Comments on Hard Money v Private Money: What’s the Diff?
This is a really good time for dabbling in real estate because there are a lot of properties of all kinds available at attractive prices for the right buyer. But money is tight and even well-heeled investors may find themselves in a temporary bind when a really good piece of real estate comes up for […]
posted by thenewb on October 9, 2014 | Comments Off on California Foreclosures Still Going Strong
Despite the apparently steady decline in California foreclosures in 2013, a trend that has been steadfast since 2010, there are indications that homeowners are not out of the woods yet. According to this article, a significant number of foreclosures have been languishing for years, in part due to the debtor-friendly Homeowner Bill of Rights which […]