Commercial Hard Money Loans

Hard money loans are a specific type of asset-based loans. In this type of loan, a borrower receives funds that are secured by the value of a parcel of real estate. These loans are paid back with a higher interest rate than conventional commercial or residential property loans. This type of loan is rarely, if ever, issued by a commercial bank or other deposit institution.Hard money loans are very similar to bridge loans. Bridge loans typically have similar criteria for lending. They also have similar costs to the borrower. The primary difference between a hard money commercial loan and a bridge loan is that a bridge loan frequently refers to a commercial property or investment property that is in transition. The property may not fully qualify for traditional financing yet. Hard money commercial loans refer not only to asset-based loans with a high interest rate but also loans for a financial situation that is possible distressed. Examples of this include cases where someone is arrears on an existing mortgage or where bankruptcy and foreclosure proceedings are already in process.Hard money mortgages, both commercial and residential, are made by private investors. They typically make loans only in their local areas. The credit score of the borrower is not important because the loan is secured by the value of the collateral property. The maximum loan to value ratio is 65-70%. This means that if a piece of property is worth $100,000, the lender would give the borrower $65,000 to $70,000. This low LTV (loan-to-value) ratio gives the lender added security in the event that the borrower cannot pay and the lender has to foreclose on the property.Commercial hard money lender programs are similar to traditional hard money loans in terms of the LTV requirements and interest rates. A commercial hard money lender is typically a strong financial institution with the deposits and abilities to make discretionary decisions on loans that are non-conforming. These borrowers do not conform to the standards of Fannie Mae, Freddie Mac, or other residential conforming credit guidelines. Since it’s a commercial property in question, the loan does not generally conform to a standard commercial loan guideline either.Traditional commercial hard money loans are very high risk and have a higher than average default rate. Just like in a normal commercial loan, when a property owner defaults on a commercial hard money loan, he or she can potentially lose the property to foreclosure.For more information on hard money lending, please visit

Start a Gold Star Business Online – 3 Things You Must Do to Succeed

Thousands of people are launching new businesses online every day, most of which will fail within their first year. How can you be in the 3% who will succeed? Why do most fail? What are the 3% doing right that everyone else fails to do? The truth is, you CAN SUCCEED and build a gold star business online that is immensely successful, IF you do these three things: find a great company, find a great marketing system, then plan your work and work your plan.Seems too obvious? Seems too simple? That’s because building a world class, gold star business online is SIMPLE, it’s just NOT very EASY. Because everyone expects it to be easy, because so many companies tell you it is easy, most people give up way too soon, or spend too much time and money chasing rabbits instead of doing the simple, effective, yet often times unglamorous tasks that create success where the rest fail. How do you do it?Find a Great Company – Look for a company that has truly marketable products. Everyone sells vitamins and magic juice drinks. While many of them are legitimate, there are so many of them out there that it is difficult to compete. Find a product that has a niche market, one you can truly believe in and that people really want. If you really want a gold star business online, you have to find a company that has a mindset of integrity and an attitude of serving others. If they teach you to put your customers first, to go beyond your clients’ expectations, that is a company that will put you first and go beyond your expectations. They will do everything they can to help you succeed, not just bleed your wallet dry.Find a Great Marketing System – Look for a marketing system that utilizes multiple online marketing strategies and is continually developing and offering new strategies to ensure you stay ahead of your competitors. A great marketing system needs to do more than just list the things you should do to market your business, and then sell you ads and leads, it needs to show you how to do them. There are many great marketing strategies out there that are free or very low cost, but if you’re new to online marketing, it’s like learning a new language. You’ll need education, and plenty of it. Great marketing systems give you everything you need to build a gold star business online: the strategies and the know how.Plan Your Work and Work Your Plan – It is hard to know where to start, even harder to get started, and almost impossible to keep going once you do start. Why? Because instant results don’t usually happen, even though we are told they will. It takes time, consistency, and repetition to begin to attract customers and build a client base. Most people don’t make a million dollars in their first month. But all of the people who succeed are surprised at how relatively quickly they did do it when they looked back on their first six months, and their first year. They had a plan, they worked their plan, and they kept going on faith when they didn’t see results at first. It worked for Abraham and Moses, and it can work for you! Plan tasks, do them every day, every week, every month. If you get overwhelmed, take a 15 minute break, focus on what’s in front of you, sit down and start again. DON’T QUIT 5 MINUTES BEFORE THE MIRACLE.Doing these three things will give you a great head start, and a chance to earn multiple six figure incomes. If you find a great company, find a great marketing system, then plan your work and work your plan (and don’t give up), you CAN live the life you’ve dreamed about. You are only a few steps away from having your own gold star business online. Here’s to your success!Brenda Fairchild