Meet The Team

Patrick Hook, Broker-Associate

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Blogging About Residential and Commercial Property Loans in Southern California

It's no secret that hard money loans are a viable options for those in need of quick cash. A typical bank loan borrower looking to take out a business loan has to be two years in business, have at least $250,000 of annual revenue, have good personal and business credit, and be cash flow positive. Still, hard money loans are incredibly versatile in a variety of situations. But before you commit to a hard money loan, it's important to be aware of these common mistakes.

Read more: Considering A Hard Money Loan? Beware Of These Common Mistakes

One of the most popular forms of financing for real estate investors, without a doubt, is the hard money loan. But what makes hard money loans so highly sought-after? There are numerous reasons why real estate investors like working with hard money lenders, but chief among them are the fact that these loans are fast, flexible, and carry more weight. Below, we'll take a closer look at just three of the reasons why investors like working with hard money lenders, in particular.

Read more: Top 3 Reasons Why Real Estate Investors Like Hard Money Loans

There's no shortage of individuals or organizations that are willing to lend money to your business, no matter what your qualifications may be. These can be traditional bank lenders, private money lenders, or alternative financing companies. they may all have different names, but they're all willing to give small business owners like you a leg up.

Read more: The Pros And Cons Of a Hard Money Business Loan

Private money lenders can be helpful if you have a major project that needs funding. They can give you the money that you need to be able to successfully fulfill your requirements, which you will one day pay back.

Read more: 3 Ways to Find Private Money Lenders Who Will Fund Your Deal

Are you interested in the hard money loan process, but aren't sure where to start? Here's what you need to know.

What exactly is a hard money loan?
A hard money loan is one that is secured by real estate. These private hard money lenders typically charge higher rates than banks. However, these lenders accept borrowers who've been denied from many financial institutions. In other words, if you can't seem to get a loan, a hard money lender may be the place to go.

Read more: Frequently Asked Questions Concerning Hard Money Loans: Part 1

If you are looking to take out a hard money loan, it is important that you do the proper research before choosing a private hard money lender. While hard money loans can be expensive, considering they have lower loan-to-value ratios and high interest rates -- potentially 12% or higher -- they can be considerably helpful in securing real estate deals. But before you sign on the dotted line, here are some questions to ask those potential hard money lenders.

Read more: 5 Questions to Ask a Potential Hard Money Loan Lender

Buying real estate property may not always be easy. If you find yourself looking to purchase property, but don't have the money to do so, many people often turn to hard money loans for assistance.

Read more: 3 Reasons Your Hard Loan Application May Be Declined

Is there something you are wanting to do, but you don't have the money for it? You want to update your kitchen. Maybe you want to build an extension on your house. These things can get very expensive.

Read more: What You Need to Know About Hard Money Loans

Even though investing in real estate seems pretty simple, there are few risks to consider before making a purchase. you want to make sure you know exactly what you're doing so you don't end up getting yourself in a lot of trouble. Here are some risks to consider before you make any investment.

Know the Area

Read more: 3 Risks to Consider Before Investing in Real Estate

If you've worked in the lending industry or the house flipping business before, you're probably already familiar with the concept of a hard money loan. You also probably know what the difference between a hard money loan and a private money loan is. But for those not quite in the know, it can be a little confusing.

Read more: Hard Money Loans: A Guide to Understanding the Basics

If a home sells at least twice in the same year, it's considered house flipping. House flipping strayed from the spotlight for a little while, but now it's coming back in a big way. In fact, house flipping made up 6.1% of all U.S. home sales in 2016.

Read more: House Flipping is Coming Back to California in a Big Way

If you are considering applying for a hard money loan, there are a few things you must know about the process. Before you contact a private hard money lender, here is everything a beginner should know about getting started with hard money loans.

Read more: Interested in Hard Money Loans? Here's What You Should Know Before Applying

Debt has become a fact of life for the average American. According to the latest statistics from the Federal Reserve, consumer debt in the United States has continued to grow, reaching nearly $3.4 trillion in May 2015. As debt grows, it begins to get harder and harder for some to get loans to help relieve their financial burdens, or to pursue career or business aspirations.

Read more: Need Capital? Inquire About a Private Loan

Contact Us

Mailing:
12526 High Bluff Drive, Suite #300
San Diego, CA 92130

Main Office:
832 Camino Del Mar, Suite #3
Del Mar, CA 92014

carl@maggiocapital.com
858.764.4436

California Department of Real Estate
Real Estate Broker,
Broker License #01883341,
NMLS #308757

NMLS Consumer Access
https://www.nmlsconsumeraccess.org

Maggio Capital, Inc., is based in San Diego, California. We originate, underwrite and facilitate non-traditional mortgages on residential and commercial properties throughout California.


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