Private Money Loans
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The usual approach to request loans or credits is to rely on banks and similar lending institutions. However, it is not that simple to access them, and sometimes, you are limited to what you can do with the funds. As a result, private money loans are not only a simple alternative but also a better option overall.
But before getting to this type of loan, you must determine what you are trying to achieve or for what do you need funds in the first place.
For people and companies in Tallahassee, real estate properties—either commercial or residential—are a great investment or necessary if the approach is to have their own spaces. Therefore, it is common to need funds to finance the purchase or renovation of one of them in order to use it or resell it as an investor.
The first option that comes to mind—to finance the acquisition—is to use your savings and own money. However, this is not always possible when you consider how much real estate is worth. To avoid going overboard with what you can truly afford, loans are the best alternative as long as you find a good lender and opportunity when it comes to the terms and conditions established for the credit you want and need to request.
This is when banks and traditional lenders come to the picture, but they have several requirements set for both businesses and particulars that limit over 70% of the people in Leon County. Besides, their loans are not always the best alternative since their terms include:
- High-interest rates.
- Less time for repayment.
- Lower LTV and LVR.
- More limitations about the property or project you can finance.
- High annual revenue from the borrower.
How to access better loan options
Considering the previous factors of regular loans or more like traditional ones, you can choose to request private money loans instead. These credits are only provided by private lending companies or particulars that are willing to offer the same sum of money but under better terms and conditions. Also, the requirements to fulfill are much more accessible and fair for the client. In our company, Commercial Real Estate Loan Pros of Tallahassee, we are able to offer private money loans for real estate properties like homes, apartments, and several types of commercial ones.
However, we are flexible about the use of the loans you request. In other words, if you contact us for these options, in particular, you can request them for other projects that do not involve real estate. Properties and their purchase are common since many real estate investors are located in the county, but it is not the only business, need, and investment companies or individuals want to give a try.
Therefore, you can expect our private money loans to finance renovations of a property you already own, help with regular expenses in a company or business, fund personal needs and projects, and much more. As for the terms and conditions included with them, we vary them depending on your situation, specific sum of money, and the use you will give it. however, we have a standard based on the conditions offered by regular lenders in which we do our best to offer more for less:
- We have fixed and lower interest rates.
- Higher LTV and LVR ratios.
- More time for repayment.
- Flexibility for payments.
- Several types of private money loans available for different purposes.
To request any of our loans at Commercial Real Estate Loan Pros of Tallahassee, you are welcome to use our contact form, send an email, or call our team.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.