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Hard loans: Your Best Alternative for Real Estate Funding Solutions


With numerous financial institutions and private lending companies claiming to provide real estate financing solutions, finding out which is good for you might be hard. However, when you need a quick loan, or when you can’t be approved for a traditional mortgage, your alternatives are limited. This is where the hard loans come in handy.

What is a hard loan?

This is a real estate financing that is provided by a group of people or a company. Instead of asking for a stellar credit, an excellent property, and verifiable revenue, all you need to get a hard loan is sufficient equity in the property that is used as collateral.

In most cases, that collateral is the real estate project that the investor needs funds for, but the funds might be used for other purposes or to purchase or renovate another property.

When to apply for the hard loan

Once you realize that you need some financial help, you have numerous loan alternatives to consider. Even though hard loans appear to be the easiest and fastest way to get money, you need to know when to get it.

Here are some situations when a hard loan can be the perfect alternative

When you don’t have a stellar credit

Bad credit is one of the reasons why the majority of borrowers fail to get approved for traditional mortgage loans. If bad credit is preventing you from getting a mortgage loan, then you are among the many individuals who have a credit rating of below 601. The majority of banks will not give you a mortgage loan if you have bad credit and this makes the hard loans a perfect alternative. While hard lenders will not check your credit history, it is good to make sure that you have paid your previous lenders as agreed to increase the chances of getting another hard loan.

When you need a quick funding

Traditional mortgage loan application entails a long process. When applying, you fill the form and present all the required paperwork to the loan officer and wait for the application to be reviewed and processed.  In cases the application will be approved during the review and processing phase, the application goes to the underwriter. The underwriter will decide whether you are eligible to get the loan or if more info is required.

In case the underwriter agrees to give you the loan, you will handle other details like mortgage insurance when your down payment is less than 20% of the loan. Even after going through all these steps, you will be required a wait for the pre-closing and closing procedure to be finished before getting the cash. All these processes with taking between 30 -60 days and even longer on some occasions, based on how engaged the lender will be at that time. When you need quick funding, waiting for this lengthy procedure is not the best alternative. With a hard loan, you will circumvent all these steps for getting a real estate funding.

When flipping a real estate property

The speed of hard loans makes them perfect for certain conditions when additional funding might be needed. Flipping property is a good example of such situations. Whether you are flipping homes for investment purposes or just making your private residential home, unexpected expenditures will pop up regularly.  For instance, you can purchase a house and realize that there is damage that you never budgeted for in the first place. Or the development of your project takes a long period then you expected and you have to pay your contractors for the extra time and pay for the extended equipment rental. When you need funds for your project flipping project, a hard money mortgage loan is an ideal alternative.

When you want to purchase a new property

Even if you have never bought any property before, a hard loan can be still a perfect choice for your real estate financing. In most cases, a greet housing buying opportunity will pop up unexpectedly, and make an offer to snatch it off the market before any other buyer calls for fast funding. A hard loan will be the best alternative to getting the funds to purchase the property that you admire before anyone else.

When you have several properties

Having multiple properties that you lease out can be an ideal way of getting passive income. However, the moment you acquire multiple properties, it hardens your eligibility to get approved for traditional mortgage loans for you to acquire more. The moment an investor owns four mortgaged properties; the majority of banks seems to be reluctant to help them in funding another. This makes the hard money loans the best options.  

You already have a loan, but you want more funds

You might be having a loan, but still, find out that you need more money to complete the project. Bear in mind that obtaining another second mortgage is a grievous mistake. For this reason, you need to consider getting a hard loan since it lets you get additional financing from another source, helping you to protect your credit and your investment.

Things you must find out from your lender

A hard loan application is an exercise that might put you in a vulnerable position and make you feel powerless easily. Besides, you are the one who needs the financial help, and if you have had bad experiences in the banks previously, your confidence might have taken a hit.

One that you should know is that, when requesting a hard loan, you have unmatched power than you could think. Additionally, the introduction of alternative lending has allowed those investors who have been turned down by a traditional bank to get the financial assistance they need. However, the old axiom that says information is power remains to be true. There are some things you need to find out from the lender for you to have a great hard money lending experience. Knowing these things will give you the confidence you need and help you secure the loan you want.

Find out if the hard loan lender has a solution for your situation

Given that there are numerous various types of loans and every investor or developer has his or her unique situation, you must ensure that you are taking to the right individual. If it is a hard money loan you need, you will not have to waste your time and energy with a lender who provides regular bank loans. Finding a hard loan lender who specializes in the type of real estate financing you need is of paramount help.

Find out what is the after repair value and current value

If you want funding to finance your real estate project, all you need is to get a fix and flip loan that is also referred to as rehab loan. In this case, make sure you inquire from your lender if the funding is given by the current property or the value of the property after the renovations and repairs are done.  Since this will create a huge difference in the amount of loan to be secured, getting the answer in advance will be of paramount help.

Get to know the down payment requirements

When looking for a hard loan to finance your real estate project, loan lenders will need to have the confidence in your investment in the project. Bear in mind that different hard money lenders will have different loan requirements for the minimum down payment you will need to put on a property. This is triggered by the fact that typical down payment will change as the economy. For this reason, you need to make sure that the lender asks for a down payment that you can afford.

Understand the approval process

When looking for a loan, the truth is that you have a cutoff date for when you need the finances. For this reason, you need to work with a lender with a fast approval process to support your project or make an opportunity to sail through. Finding how long the approval process for your real estate financing will take helps you determine if the waiting time will meet your needs.

Make sure you ask about the previous clients

Even though your hard loan lender will never give you specific details about previous clients who have used their services, they must be ready to give you statistics and examples of achievement. Get as many testimonials and instances of client satisfaction as you can. This helps you to get the feel of the hard loan lenders’ reputation. If they are comfortable in sharing this information, then you will know that they are trustworthy.

While you must not know everything when meeting with your hard money lender, creating a list of the unique questions us a perfect way to obtain the information you need. Having a business makes you be on the same playing ground, and you must strive to feel confident in your relationship with your lender.

best hard money lender

Reasons to work with the best hard money lender


If you want to venture into real estate as an investor or a developer, but you don’t have enough funds to finance the projects, approaching the best hard money lender will help you realize your dreams. In the real estate industry, choosing the best lender is equally important as choosing the right property. Knowing how to find the best hard money lender is not a complicated thing, you just need to understand the parameters to consider.

In the world of lending, choosing a hard money lender that suits your needs is vital. Here is a step by step guide that can help you make an informed decision.

Picking the right type of property

This is an important thing to do since the majority of lenders will only fund some specific types of property. Make sure that your potential hard money lender has the license to fund in the region in which your preferred property is situated.  In case you don’t have a property in mind, a good hard money lender will assist you to get the property based on a certain search criterion.

Pile up a list of hard money lenders

Once you match your property with a compatible lender who is ready to fund the whole project, another parameter to ponder is your skills level with the flipping and renovation. While some hard money lenders are best suited to novices, others are more compatible with skilled investors. Additionally, the majority of lenders will look at the credit score of the borrower and a minimum down payment.

Research every lender

The moment you compile your list of lenders, ensure that you conduct some background check. Look at their qualification credentials and licensing. Talk to the lender’s previous clients and do a follow up to get some references. Try to check the online reviews, testimonials and if you realize that their us a high complaint has been filed, know that it’s not the best.

Research the industry standards

It is hard to know the best lender if you are not sure about the common mortgage financing standards in the industry. Additionally, it will be hard for you to wade off the scam artist if you don’t know what happens on the ground. The best hard money lenders will finance 50 to 70% of the after (repair value) ARV of the property. If the lender intends to finance the property on the loan-to-value-ratio(LVT) with no ARV alternative, they will not cater for the repair expenses.

Look at the red flag

When searching for the best hard money lender, one of the vital things to look out for is how open and clear the lender is with their lending criteria. Reliable will explain to you every step of the transaction, comprising all the charges, and other additional expenses. This will do this wholeheartedly for you to understand what is expected and required for the deal to sail through. If the lender is not open about the cost and fees, dwells on the same topic while avoiding your questions, or attempts to introduce other irreverent items, just avoid such a lender.

Look at the benefits

The majority of hard money lenders will provide some other additional equipment, software, and programmers featured on their loans to educate you further and provide training for the investment success. Never should you shy off from finding out which types of tools and software the lender can contribute. The best hard money lender will be thrilled with your achievements, and they will be happy to help you through the entire procedure.

Compare the pros and cons and choose the best

Given that you have all the required information about the lenders, it is now the time to compare and contrast. Create a list of ups and downs of each hard money lender vis-à-vis your property to make sure that the lender you get will be the best suited for your financial requirements.

Why you need to choose the best hard money lender

The role of the best hard money lenders in the real estate industry is to provide funding solutions to real estate investors and developers that traditional banks can’t offer. These are service providers who can help you in boosting your income and protecting your cash flow, especially if you are in the business of purchasing and renovating apartments. While most of those projects are profitable, you will always miss out those opportunities you have limited funds.

Getting a financial aid to support your renovation project is never an easy task. Bear in mind that traditional banks do not specialize in this kind of loans and they always avoid them. However, numerous best hard money lenders are ready to offer the best solution and with the introduction of the internet, finding one is made easier. Note that the services offered and the fees charged will vary from one lender to another, and for this reason, it is always good to carry out a slight comparison.

There are so many parameters to ponder when shopping for these lenders since some lenders will offer their services as individuals while others will do it as small companies. Other service providers will focus on providing their services locally while others countrywide. While there is an opportunity to getting the loan from an individual or a small business, talking to a more experienced hard money lending firm will make you feel safe.

If your projects are about searching for fix-and-flips at affordable prices, you will need to consider approaching a nationwide hard money lender that specializes in renovation funding. In most cases, they will fund up to 100 % of the buying price, show you how to convince the seller to pay up to the closing costs and provide renovation funds for your projects.

Reasons to create a good relationship with a lender

The real estate investors and developers who are making a sentry into the real estate industry might find it difficult to procure a sensible deal in the market. The fact is that sourcing loans to inject into various projects is never an easy thing to do for someone who is green in this field. However, some experience, an investor will come up with ways to solve the problems and find the best hard money lender who is ready to offer the financial support. Some recent findings have revealed that real estate developers and investors will bond with the best hard money lenders without much struggle. In most cases, those long-time relationships did not happen by accident, but it was a deliberate action by the two parties. A mutual understanding among the involved parties is a vital tool that helps both the borrower and the lender spread their business circle and generate more income.

The most successful investors in the real estate business have been experiencing tremendous success on just because they decided to invest in a strong relationship with the hard money lenders. Those accomplished business owners in this industry understand that a good relationship with their lenders has always helped them obtain a huge amount of loans. With the accessibility of easy funding, investors will have an opportunity to strike the best deals whenever they want. Even the beginners in the real estate field can make their dreams true if they create a friendly relationship with the hard money lenders.

Even though the majority of people will consider it as sycophancy, you will need to go an extra mile to woo the lenders. While this is a professional sector, bear in mind that having a personal relationship with your best hard money lender will help you know the types of deals your lender prefers to work on. Additionally, a candid conversation at the dinner table will disclose numerous unhidden facts about them and what you are seeking. This might help you pick the best deal for your investment purposes.

The moment you create a strong relationship with a reliable hard money lender in the real estate industry, you will not have to look back since success will be your daily portion. Additionally, you will be exposed to numerous business opportunities. In most cases, you realize that the majority of investors in the real estate industry fear to secure a hard money loan because of some reasons are better known to them. However, if you pal up with the best hard money lender, you have many chances to secure a loan at a favorable rate.

Bear in mind that hard money lenders vary from one another in their loan-to-value guidelines, the kind of property they fund, mortgage size and the geographical area they serve. The best way to get the best hard money lender is to look for references from local title firms, realtors and mortgage providers because they are all involved in buying and selling homes. Another best way to get some referral is to ask for information from local real estate investor organizations. As an investor, make sure you search for lenders in advance for you to start building a good relationship that will facilitate fast financing of projects.  

hard money mortgage

What You Need to Know About a Hard Money Mortgage Loan


What is a Hard Money Mortgage Loan?

A hard money loan can be defined as a short-term house financing alternative that is used in the purchasing of an investment property. Typically, this form of financing is given to real estate investors for remodeling of rental houses, fix-and-flip projects or just to facilitate the buying process and transfer of real estate.

A hard money mortgage loan is designed explicitly for investment properties, and their primary role is to financing the purchase of a real estate or funding a renovation of a property. The funding is accessed easy and fast than the traditional mortgage because the qualification is flexible. A hard money loan helps fix-and-flip investors and real estate investors to build a strong rental portfolio.

This is one of the best short-term financing alternatives that give the majority of investors the flexibility and speed they need when investing in real estate. Many investors prefer getting a hard money mortgage loan because it requires a fast prequalification, quicktime to funding, a minimal borrower qualifications and they can use the loan to finance a rehab.

In most cases, short-term investors will use their hard money rehab loans to fix-and-flip their real estate property within one year or less. On the other hand, long-term investors usually use the funds to buy and remodel a fixer-upper before refinancing to a traditional montage and rent out the property to tenants.

However, the majority of long-term lenders are portfolio investors, in such a way that they possess several investment properties. For this reason, traditional banks will tend to be reluctant when issuing the conventional loans if the investor is still financing over four mortgages. Because of the limitation of the financial institutions when giving out the conventional mortgage, hard money loans have become more a useful alternative. For this reason, even the buy-and-hold investors find this option helpful.

Additionally, given that hard money mortgages have a fast approval rate and funding times, almost all real estate from all stripes must use the funding to compete with all-cash purchasers at a real estate auction.

Who is a hard money mortgage loan meant for?

Both the short term and long term investors can access this type of funding. Three parties use hard money loans, and they include:

  •    Fix-and-flippers
  •    Buy-and-hold investors
  •    Portfolio investors

How do the short-term and long-term investors use hard money loans?

Fix and flip investors

These are short-term real estate investors who what to buy, renovate and sell their property within one year. This is one of the best financings for short-term investors since they can be used to buy the house and renovate it at the same time using that single loan. Additionally, the payment duration of the loan is short, and they offer interest-only payment.

For instance, the majority of these investors will buy a house in poor condition, renovate the home and resell it at a higher price than their current market value. With the help of a hard money mortgage, the fix-flip investors can fund the initial purchase and all the required innovation expenses. In most cases, the investors will receive funding that is equivalent to the percentage property’s after-rehab-value, which translates to the fair market value after the investors make all the renovations.

The moment the investor buys the property using the initial finances from the lender, the immediately starts the renovating the property, getting the renovating funds from hard money lenders in stipends or draws. This implies that fix-and-flippers must be equipped with float rehab overheads until they get the resources from the lender. When renovating the house, fix-and-flippers are required to pay their lenders interest-only payments.

Buy-and-hold-investors

These are those investors who obtain the hard money loan to purchase and renovate rental apartments. In most cases, the buy-and-hold investors will obtain the hard money mortgage loan when their rental property is in bad shape such that it cannot be used to obtain a traditional mortgage. It is because the majority of traditional banks will never issue a conventional loan for apartments in deteriorated conditions. Nevertheless, decrepit apartments come with their upsides for long-term investors the same way they do for short-term investors.

To avoid this financing problem, long-term investors try to seek help from hard money lenders to obtain rehab loans to finance the initial purchase and renovation of the property.  The moment the renovation is done, long-term lenders can rent out the homes and refinance the renovated home with a conventional mortgage and later use the finances to repay the hard money mortgage.

In most cases, a buy-and-hold investor who is eligible for permanent funding will require access to the funding immediately, especially when they are competing with all-cash purchasers at real estate auctions. In the said scenario, the long-term investors depend on the hard money mortgages for a fast approval process and a quick funding time.

Portfolio investors

These are those long-term investors who obtain the hard money mortgage loan to invest in several properties at the same time. Even though these type of real estate investors prefer traditional mortgages, the majority of financial institutions and lending organizations give out between 4-10 conventional mortgages to one person.

Therefore, in case a portfolio investor meets the traditional mortgage limit, they will need to use other options such as purchasing a house all-cash, get a blanket mortgage or use hard money mortgage. For the reason that the majority of these investors are extremely levered to start with, they usually depend on hard money loans to purchase more properties.

This implies that the investor will use the hard money mortgage loan to buy the houses irrespective of their condition. If the apartment is in bad condition, the hard money lenders will give out the loans as a percentage of the apartment’s after-rehab-value. On the other hand, if the house is of good condition, the lenders will give out the mortgage as per the fraction of the house’s loan-to-value ratio, that is the same as the limits set by the traditional loans.

The things you need to know when applying for a hard money mortgage loan

National hard money lenders provide a standardized loan application procedure, and they strive to make the mortgage application process simple by offering borrowers with an online application platform that eliminates all the unnecessary documentation. As a borrower, you are required to use a secure online portal to upload the correct details and forms, and this helps in expediting and streamlining the hard money financing procedure.  

Here is what you need to know about the general application timeline for a hard money mortgage loan.

The majority of hard money lenders will divide the application procedure into two segments:

  •    Pre-qualification which is a fast approval procedure that offers a borrower a sense of the mortgage alternatives.
  •    Funding which is a long process that assembles more detailed information to finalize the expenses, rates, and terms involved in hard money lending.

Pre-qualification stage

As a borrower, the pre-qualification phase will help you understand how the loan works. Once you understand your potential loan size, fees, terms, and costs, you will use the information fix a maximum budget for the property and continue with buying process of the investment property. The lender will use this phase to assist you in compiling their loan alternatives, compare various offers and access your funding choices. Make sure you present the following documents during the pre-qualification stage:

  •    Personal bank statements of at least three months
  •    Personal credit score history of more than 550. Bear in mind that hard money lenders will always request for a hard-pull or soft-pull on your credit.
  •    Solutions to some basic queries. Bear in mind that the lenders will ask some questions about you and your investment property.

Basing their decision on this details, hard money lenders will offer the borrower with a list of the available hard money mortgages, giving the investor a chance to say yes or no when evaluating the investment property.

Financing stage

The hard money mortgage loan application will be approved in the funding stage. The lender will ask for more specific details during this stage to help them make the final decision. Once they approve the application, the lender issues the funds, letting the investor close the deal. In this stage, the lender will want to look at documents such as purchase contract, list of all the previous projects, contract bids, appraisal, upfront costs and scope of rehab works.

Final word

Hard money mortgage is one of the significant forms of financing for short-term fix-and-flippers and also for buy-and-hold investors who want to renovate several investment properties. The funding alternative presents a short approval procedure, interest-only payments and can be used to finance the purchase and renovation of investment properties. Additionally, the mortgage can be used to buy a single-family house and also a multi-unit apartment.  This is because the hard money mortgage loans provide a fast approval rate and fast time to financing.  For this reason, choosing the hard money mortgages over the conventional mortgage from traditional banks is the best option.

hard money mortgage lenders

The Role of Hard Money Mortgage Lenders in the Real Estate Industry


A hard money mortgage lender is an individual or group of people who are ready to provide money both on the short-term and long-term basis to an individual to help them purchase or refinance a property. When you need financing on a short-term basis without much paperwork, hard money mortgage lenders are the best sources. The lenders are famous for the unmatched convenience they avail to people who need funding but won’t meet the threshold of traditional banks. Since this type of lending only requires minimal formalities, the industry has many scams which might lure you to take their services. Therefore, there are some factors that you must consider when looking for a hard money mortgage loan.

Here are the qualities of a good lender.

A good hard money lender must be trustworthy and experienced

Credibility and experience of the hard money lender is a vital factor one must consider when looking for the best service provider. You need to choose a lender who is credible and will not deceive and fraud you in the whole process. For this reason, you must conduct a background check so that you can establish that the lender is trustworthy. Talk to the previous clients who have used your potential lender to find out their experience. Additionally, you need to make sure you work with a lender who has the required expertise in this field. Knowing the duration in which the service provider has been providing the loans will help you know their experience status. You also need to look at the reputation they have a period in the sector within that period. Make sure you work with a hard money mortgage lender who has been in business for a long time.

Must have an easy application process

Another quality you need to look at before choosing your lender the application process and how fast they approve your loan request. As a real investor who needs a hard money mortgage, you want to get involved in a lending procedure that entails minimal documentation at the application process. Additionally, you don’t want to work with a lender who has a long application process, and the approval rate must be fast. For this reason, you need to get a hard money lender who ensures prompt and fast application procedure and approval.

Rate of interest

As an investor seeking a hard money mortgage loan, you need to get a lender who will fund your project at a favorable interest rate. The last thing you want is to pay for a mortgage that envisages high-interest rates as compared to what the mortgage paid for. Therefore, you must compare and contrast the interest rates offered by various lenders before choosing the one to approach.

Must have flexible payment terms

When choosing your hard money lender, make sure you consider the flexibility of the payment terms. Work with a lender who is ready to offer appropriate payment terms, because the majority of hard money lending is primarily on a short-term basis. However, this will be determined by the payment plan that you believe will fit your needs.

Response

This refers to the terms as to when the lender will avail the hard money mortgage loan to you. The service response must be taken into consideration since it lets you know when you will get the funds and hence being the purchasing process or start the renovation process. Make sure you work with a lender who as minimal delays or none as this will allow getting the financing at the right time.

Must have Proper paperwork process

Even though you don’t require much paperwork when approaching a hard money mortgage lender, they still ask for some documentation that proves the funding has been availed, together with its terms and condition. For this reason, it is the mandate of your potential lender to check the paperwork is accurate to circumvent the cases of fraudulent lenders.

Strength of the lender

Make sure the hard money mortgage lender you want to approach has a strong financial backup to support your financial needs. Your potential lender must be ready to fund all your projects without struggling financially. This can be established by checking their financial strength in the market and how the service provider trades regarding their assets about their liabilities.

How the Hard Money Mortgage Lenders in Today’s Real Estate Marketplace?

The hard money lenders are taking over the real estate industry since these lending institutions linger to be the only recognized source of investment finance in the frugal lending sector. As many traditional banks continue to nurse their wound from the upshot of the first real estate effervesce, hard money mortgage lenders have taken advantage of the opportunity by reducing the application time, as they give real estate investors the capability to purchase properties and fund renovation projects.

By relying exclusively on secured loans and the modern technology like online application and mobile utilities, the hard money lenders are shaping the real estate industry.

Embracing the modern technology

It is evident that long waiting periods lined with standard and large lender mortgages have crippled the real estate entrepreneur for many years. In most cases, a slight hiccup in the procedure leads the investor to lose a chance for purchase since the other more eligible developer has provided a competitive offer. However, you will never come across these problems when approaching a hard money lender for any financial help. This is because things like prompt valuation, secured proposal and a clear understanding of the real estate industry are combined to create a perfect borrowing environment for the investor.

Additionally, the majority of hard money mortgage lenders tend to use the mobile application to expedite the process. The use of modern technology, together with the willingness of lenders have transformed the way many real estate investors and developers view capita acquisition. Gone are the days when the investors had to wait for weeks or even months to get approved.

Property appraisal and disbursement

The moment an investor identifies a property as a potential investment, they can talk to their preferred hard money lender to send an appraiser to the property within one day. The moment the property is appraised; the lender will provide the required funds to purchase the property.

Role of hard money mortgage lenders

Understanding the role of hard money mortgage lenders in the real estate industry will help you make your loan application easy and increases the chances of getting quick approval on the hard money mortgages. Additionally, you need to know all the key players in the hard money lenders and the role they play to help you get the right funding and getting financed fast. Once you decide that you want a hard money mortgage, you need to make sure that you are working with a loan specialist who specializes in this area.

In the traditional mortgage lenders, the primary role of the loan office is on the front-end of the transaction. The responsibilities of these loan officers include taking the application, they discuss the loan programs and their qualifying criteria, and they collect income and asset documents from the borrower. The application form is then handed on to processing, underwriting, and the closing officer that process the loan.

However, for hard money mortgage lenders, it is different since these experienced entrepreneurs are skilled to stage-manage the whole transaction process right from the start to the end. In most cases, the lenders will fund the hard money mortgage loans with their own money. Even though they might resell your loan to a private investor to get back their funds, they have the required expertise and relationship with various funding sources that is crucial in giving you the hard money mortgage loan that suits your needs.

The role hard money mortgage lenders play is to manage and perform the following process that will help you get your deal closed.

  •        Processing your mortgage package which includes the income, credit and asset information as provided by you.
  •        Ordering and coordinating of the title
  •        They verify and reinstate loans as required
  •        Getting you the best hard money mortgage and advising you on the best program
  •        Offering federal and state disclosures
  •        Ordering the appraisal of real estate
  •        They underwrite the application for developers looking for hard money loans
  •        They determine the mortgage servicer for your loan
  •        They create loan documents as they help in closing the deal

Any investor who is interested in buying property or renovating their houses to rent out, talking to a good hard money mortgage lender is the best option. This is because the private lending organizations have played a vital role in bridging the gap left by the economic crisis in the financial sector, giving the real estate investors the capability to be successful in a competitive sector. Since the traditional banks have opted to remain cautious and parsimonious when it comes to funding real estate projects, hard money lenders are striving to assist investors with an eye for opportunity to get the financing required to purchase the properties.