Hard Money Lenders Houston (713) 352-3308 Texas Private Equity Rehab Mortgages
Hard Money Lenders Houston (713) 352-3308 Texas Private Equity Rehab Mortgages. 100% of acquisition and rehab financing on properly structured deals.
If you've been trying to get deals done in Houston's rewarding but challenging investment real estate climate, you know that sourcing debt is hard to do. Luckily, you do have an alternative and it is the private mortgage market. Here are the top seven reasons that Houston Texas hard money lenders can make you a loan and help you get your deal closed:
1. They have money to lend. Private lenders are investors like you that have money that they need to place.
2. They can close quickly. Houston hard money lenders aren't big, faceless institutions with levels of decision making. Once they get your application, they can move quickly and fund your loan, usually in three weeks or less.
3. They don't underwrite income. Most private lenders look at your ability to repay the loan rather than looking at the property's in-place cash flow. Since they do this, they can lend you money on vacant and distressed properties, allowing you to carry the property until you can turn it around or resell it.
4. They can preapprove you. Since Houston hard money lenders' primary concern is your strength and your ability to repay the loan, they can usually preapprove you and give you a proof of funds letter that you can use to write purchase agreements with the knowledge that you will be able to
close.
5. They have to lend to earn. Banks can borrow money from the Federal Reserve, lend it to the government, and pocket the difference. Private lenders can't. If they aren't lending their money to investors like you, they aren't making anything.
6. They can lend on after-repair value. Houston TX hard money lenders usually look at what a property will be worth after you fix it up; instead of looking at its value on the day you close on it. This means that they can lend you more money than you might expect, giving you the funds that you need to rehabilitate the property and resell or re-tenant it at a healthy profit.
7. They take risk. Many traditional lenders are so risk averse that they miss opportunities to make good loans that will make them money. While the private lending community is extremely prudent, they look at a deal and a borrower as a package and may be able to ignore minor issues that should not derail a transaction.
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Hard Money Lenders Houston (713) 352-3308 Texas Private Equity Rehab Mortgages. 100% of acquisition and rehab financing on properly structured deals.
Longhorn III Investments of Houston Texas
13831 Northwest Freeway
Houston, Texas 77040
Phone: (713) 352-3308
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Interview Q&A
How long have you been in business?
2008
What is your primary product or service?
Hard money mortgages, rehab loans, bridge capital, real estate investor money
How did you first become interested in your line of business? (if owner) - What is your background? (If owner or store manager)
Was a lawyer
How do you differentiate yourself from other businesses in your category and area?
We use our own capital
How many locations do you have and do you have plans to expand?
2 locations currently and will expand to several more next year 2016
What type of payments do you accept?
We do the loans
Which areas do you service?
Houston Metro area, as well as all properties in Texas
Who owns your company or runs daily operations?
Michael Hoffman
What are your hours of operation?
9 am to 5:30pm Monday to Friday
What is the best compliment anyone can give you?
We are awesome!
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