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All Forum Posts by: Guifre Mora

Guifre Mora has started 2 posts and replied 838 times.

Nothing, in my opinion. They are largely the same, equally give short-term loans to real estate investors at higher interest rates than banks and other institutional lenders.

There are several opinions concerning the difference between a “private lender” and a “hard money lender”. In my opinion, they are the same – a non-institutional money lender offering short-term mortgage loans to real estate investors. My take on this comes from the point of view of a lender in the private lending industry. Most individuals who would disagree with my opinion are real estate investors (borrowers). This is what I hear from many real estate investors:

“A private lender is an individual investor who lends his/her own money and does not charge any points/origination fees. A hard money lender is a private lending company that charges points and may get their funds from investors.”

Nevertheless, the lending companies which many real estate investors refer to as “hard money lenders” will frequently refer to themselves as a “private lender” or a “private money lender.”

Several private lending companies I deal with do not like to be associated with the term “hard money” because they feel it has a bad connotation and makes them seem unethical or having extremely high pricing.

But here are some of the benefits of doing business with a private lending company instead of an individual: More Qualified, More Consistent, never runs out of money, Reputation, Legal Compliance, Easy to Find, Better Pricing.

There are some benefits to borrowing from an individual investor: May offer higher leverage, may consider a joint venture or equity position, several don’t charge points (origination fees).

Post: Refi from a SBA loan on a commercial property.

Guifre MoraPosted
  • Lender
  • San Diego, CA
  • Posts 874
  • Votes 355

@Kevin Boyd where is the property located?

Post: Mortgage Originator License - Commercial Loans

Guifre MoraPosted
  • Lender
  • San Diego, CA
  • Posts 874
  • Votes 355

@Tony Gunter GA does not require specific licenses for commercial private mortgage origination

Post: Lending Duty Association

Guifre MoraPosted
  • Lender
  • San Diego, CA
  • Posts 874
  • Votes 355

@Justin Wilson scam

Post: Need Construction Loan

Guifre MoraPosted
  • Lender
  • San Diego, CA
  • Posts 874
  • Votes 355

@Mark Christopher Javier do you have the permits for the construction? There is a HML that can do it in LA.

there could be a possibility.

Post: Rental Property Cashout refi in Texas

Guifre MoraPosted
  • Lender
  • San Diego, CA
  • Posts 874
  • Votes 355

@Danny Luu a private mortgage lender can do it for you rates will be higher than conventional

Post: Newbie from Baytown, TX

Guifre MoraPosted
  • Lender
  • San Diego, CA
  • Posts 874
  • Votes 355

@John Bell you can get 75% - 80% LTV Max, 90% Max Loan-To-Purchase, 100% Rehab budget.

Post: How to create a P&L statement for commercial loan

Guifre MoraPosted
  • Lender
  • San Diego, CA
  • Posts 874
  • Votes 355

@Daniel Z Fang not necessarily I've done deals with spreadsheets as your PnL. Also your rent rolls can be in spreadsheet. But there are forms online you can use. I'll be happy to share what I use PM. 

Post: Refi from commercial to residential loa

Guifre MoraPosted
  • Lender
  • San Diego, CA
  • Posts 874
  • Votes 355

@Daniel Z Fang NOP just look for the terms of the Hard Money if they have a prepayment penalty.

Post: House Hacking Advice

Guifre MoraPosted
  • Lender
  • San Diego, CA
  • Posts 874
  • Votes 355

@Ari Pendleton I agree with @Tim Herman vacancy is a always a factor. You can find a multi unit and live in one of the units you can use conventional finance with low down payment.