For those looking to begin their real estate investment journey, the first question may be: how can I get approved for a loan? Conventional loans through banks take months for the approval process, and the hoops to jump through may be an arduous and frustrating task. In addition to the length of time to secure a loan, if you are a hopeful investor you may not yet have the credibility to secure the loan.

Is that the end of the story? Not if you try a new lending form – hard money loans. Unlike the conventional banks which take months to move, hard money lending can be streamlined and simplified, tailored to your specific need as a borrower. In many ways, hard money places users at an advantage within the real estate field, as long as the user understands how to properly utilize these loans.

Hard Money, Private Lending Need to Knows

Hard money also raises capital that is much more promising to investors, thereby making

• Approved and Funded Quickly

Real estate is a quick market, and those who want to obtain high-interest properties need to be able to move efficiently in the market. For those going through the traditional lending process, you can get mired in the steps and not obtain the capital needed to secure the property in time. Hard money lenders rely on less extensive background checks as they are willing to adopt more risk. This means that borrowers can expect higher interest rates along with quicker funding to balance this reality.

• Fewer loan conditions

As previously mentioned, private lending with hard money loans guarantees fewer conditions for the borrower. In certain cases, such as when working with a lending firm such as JMJ Funding, borrowers can expect to be matched with investors well suited to their needs, and work in favor for both of the clients. This opens lending opportunities for a wider array of people, while also allowing for greater opportunity for both parties.

• No Credit Minimums

One of the most appealing parts of a hard money loan is the fact that you do not need excellent credit to apply. This is one of those rare cases that you will not be barred based on your credit score. Of course, it is always better to have healthy credit, as interest rates typically reflect the score of the borrower. However, once you borrow from a hard money loan, timely repayments can improve your credit score, making you open to more lending opportunities in the future.

• Use as Purchase Leverage

The final immediate benefit of private money lending is that you can drastically increase your capital, and thus your portfolio. With the same amount of assets, lending with a hard money loan can increase your purchasing power, allowing you to diversify the properties in which you invest. Opening cash flow can allow you to purchase more properties and make renovations. Private lending with hard money loans can be the stepping stone to a lucrative investment journey and with JMJ funding we can match you with who is best fit for your journey.