Some of you may wonder when you can use and apply for a hard money loan in Los Angeles. Is there a “best” time to do it?
There is the best time to apply for a hard money loans in Los Angeles. That is when you need cash but no banks will approve of you.
It is especially true if you wish to purchase a high-risk property. You can also apply for this type of loan if you are planning to start a new business and you need to buy a new brick-and-mortar place for it.
Hard Money Loan in Los Angeles: Purchasing a Real Estate
A property can be an investment and an asset. Unfortunately, banks do not consider all properties as an asset. It is especially true if they are dilapidated or situated in a dangerous location.
The stress associated with buying a real estate property is high especially if you do not have enough funds to finance the purchase. And this is where hard money lender, like US Direct Lender, becomes useful.
Get Your Money Fast
If you have a business and wish to transfer to a new location, you would surely need cash. Even if the real estate agent of the new location is giving you plenty of time to secure money, applying for a hard money loan can help you secure the property faster.
The best thing about it is that the approval time is within 48 hours. Thus, when you apply today, you may be approved tomorrow or the next day.
Purchase Expensive Property
Hard money lenders make it easy for clients to invest in a property that is outside their budget. The property could be a shop in the middle of the metropolitan area. It is true that this type of property is expensive. Since it is in the center of the town, you can easily generate traffic that can increase your sales.
Unfortunately, some banks may not give you the full amount you wish to loan. Perhaps, they will loan you half of the amount you requested.
Then, the approval time of banks can take for weeks. Compared that to 48 hours approval time of hard money lenders, you should consider getting the cash from a direct loan lender, like US Direct Lender.
Upgrade Right Away
Do you need to upgrade your house or shop as soon as possible? As mentioned, banks’ approval time can take longer than direct lenders’. For that reason, you should better off applying for a hard money loan than getting the money from the bank.
Regardless of your financial circumstances, your application will be approved faster.
Be Approved Even with Credit Issues
Having bad credit can affect your approval chances. But not when you apply for a loan from a direct lender. At US Direct Lender, we can find ways to handle your bad credit so you will receive the money that you need for your investment.
A hard money loan in Los Angeles is convenient. Get those benefits above when you apply for a loan from US Direct Lender. Contact us today on how we can help you with your investment project: (626) 460-8900