As a real estate investor, you realize it’s vital to have a reliable lender who can respond swiftly. This is where many investors find value in working with a hard money lender. Too often, the delay in turn time can be the difference between closing or missing out on opportunity.
Here are a couple ways that demonstrate how a dependable hard money lender in your corner can be an excellent resource. Recently, Tom Webster, a seasoned investor, was seeking to purchase a 450K single fam investment property; however, he lacked the capital to put down & needed to close within 30 days as he won the bid at auction. Tom had a solid REO Schedule & was able to pledge a free & clear 2nd home (non owner-occupied) valued at 550K as cross collateral. This enabled him to not only minimize his cash out-of-pocket but also close within 2 weeks using a hard money lender who can perform. (Dan Burke has over 15 years of hard money lending experience & is currently with Apex Capital in Boston, MA.)