Hard Money - Private Backing Vs Bank Backings
Hard money has always been assumed by most people to be a form of private funding that is free from the grips of the institutional banking world. People believe that if they have a good enough deal, their personal borrowing strength won't matter. This is in fact correct if the company you are dealing with is traditional hard money. The asset will stand on it's own. There are many companies that have popped up that have taken on a lot of back end bank financing and the borrower will be gauged a lot more based on their personal strength rather than the asset. Know what kind of hard money you are working with before starting the process as it can make a huge difference for you.
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