Hard Money Lenders In NY

Welcome to BlueFunding
Creativity is the concept behind our company, a different kind of lender. where Hard Money Loans are IDEAL loans for buying investment properties, short sale homes and RE'O properties. Most real estate investors are looking for a private hard money lender and fast lending, fast loans from direct lender for your commercial, residential or Foreclosure property

We Will Finance:

Acquisition and development - Land - Foreclosure Finance - Blanket loans - Short sale finance - mixed use property - bridge loans income producing properties - cash out refinance - multifamily - construction completion - Office buildings - construction take-out - ranches and farms - construction - restaurants - joint ventures - Retail shopping centers - mezzanine * commercial buildings - residential hard money - rehab/model/renovation

How to use Hard Money to make money:

Hard money lenders are companies and people who are able to loan money to people regardless of their credit rating. These loans do require an individual to use his property as a collateral. This is a way for them to ensure that they will receive their payments from the person they are loaning to. A hard money loan can be extremely beneficial for anyone, though the recipient should be aware of the fact that they will be paying a higher-than-average interest rate for their loan. When selecting a hard money lender, it is important to go with the individual or business that offers the best terms and interest rates; for not all hard money lenders are the same and some may be far more rigid than others. It is a good idea not to jump at the very first opportunity that an individual encounters to receive a hard money loan.

Private hard money requires collateral as well; usually the individual's property. Private hard money is offered to people who cannot receive a standard loan due to poor credit or financial difficulties- even someone facing bankruptcy can receive a hard money loan. This kind of loan is based on the value of the individual's property or real estate, which is evaluated by the lender. Traditional financial institutions do not offer private hard money loans: they are typically offered by small businesses, though wealthy people may also be willing to offer private hard money loans to requestors. While private hard money loans have strict terms, they are a worthwhile endeavor because an individual does not need to have good credit or personal references in order to receive a loan.

Foreclosure finance is oftentimes an excellent and profitable endeavor for people who are able to purchase houses. Anyone can buy a house that is in foreclosure or pre-foreclosure through real estate auctions; though before they decide to purchase a house, they should become educated about what they are getting into. It is important to know and understand foreclosure laws and that there may be hidden costs involved. In some instances, if a house has a lien against it, the purchaser may be required to pay off that debt. Some companies are unwilling to finance a house that has been foreclosed or is in pre-foreclosure, though hard money lenders are typically willing to do so.

It is very possible to use a hard money loan to flip a house and make money off of it in the process. The home that is purchased may need to be repaired- and it is up to the purchaser to ensure that all of the repairs are made and that the house is up to code. Flipping houses is considered to be a business endeavor and as such, it must be treated in a professional manner. There is some research that must be done before someone decides to engage in house flipping as well-it is not just something that someone can suddenly decide that they are going to do. They need to have a basic understanding of the real estate market and how hard money loans work. This includes but is not limited to choosing an area that they are comfortable with, seeing how much the houses typically sell for and deciding what home to purchase. The individual must then dedicate quite a bit of time to restoring the house they have purchased, if it needs to be repaired. If no repairs are necessary, it would be a good idea for the person in question to have their newly purchased home evaluated and appraised by a skilled appraiser. The house can be sold for the price that the evaluator has appraised it at or slightly below. It is not a good idea to sell a house for more than what it is valued at, because it will simply sit on the market for months or years before someone decides that they want to purchase it.