We provide hard money loans to purchase and renovate non-owner occupied Single family homes, Apartment buildings & Commercial real estate.
Our primary requirement when lending on a property is that it must have sufficient equity, and a resale market value at all stages of the transaction, to protect both us as the investor and you the rehab contractor. We do not lend with Loan to Values greater than 65%.
We do not lend to HOMEOWNERS. - No Foreclosure Bailouts
Investors Only- No Homeowners
All Loans are first lien position only. No Foreclosure Bailouts or Loans on any property that resides the homeowner.
We are Asset Based.
Loan is based upon the value of the property. Credit is not factored in. Credit History and Scores are NOT considered for Purchase. You need to have money in the deal in order for us to lend. In most cases we do not escrow for repairs. We assist you in the acquisition of the property.
We are fast! In many cases we close your hard money loan within 3 -5 days after attorney title review and receipt of lien letters.
Usual Rates and terms
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Geographic Area |
Florida |
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Property Type |
Residential non-owner occupied single family homes, Apartment buildings and Commercial real estate. |
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Loan Size |
$75,000 to $750,000 |
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Loan Term |
6 months-12 months |
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Interest Rate |
13% interest only, paid monthly |
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Investor Fee |
3-4 % With a minimum fee $1500.00 |
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Loan-to-Value |
Up to 65% of the After Repaired Value |
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Prepayment Penalty |
3 months |
*Doc Prep - $299.00
*Lender Inspection - $199
* Volume pricing available for established investors rehabbing more than 3 deals a month
How to Get Started
Pre- Approval Letters
If you need a pre-approval letter please email us and put in the subject line pre-approval as well put your full name and loan amount requested. All loans are be subject to an inspection by our appraisers.
Loan Process
In order to start the loan process, Please fax the fully signed contract (buyer and seller) of the property to 954 252-2380, fill out Property Submission Form and please email us pictures of the property. If you do not have a title company our attorneys can close the file for you. We require a prepaid appraisal $150 which will be credited on your closing statement as long as the property is clear and marketable after legal review.
Brokers
Real Estate Investors Group works with brokers like you all over. We are called everyday with loans that require private money and are non- conventional. Brokers love working with us because we protect their clients and make sure their commissions are protected with that client for life. This is a Win, Win, Win, for borrower, the broker and Real Estate Investors Group.
We love referrals and invite you to call us and refer your client
to us. We will work through you or directly with your client, whatever you
chose.
Simply submit the contract and buyers details by email or fax. We will evaluate
it and let you know right away if we would be able to start the funding process.
We do all of our own onsite appraisals and can get the loan finished and funded
in just a few days after confirming it is clear and marketable. You set the
commission rate you earn. We simply include it with our stated fees depending on
duration.
Learn how to Lend your own money out as a Hard Money Lender
For a select few we will teach you on how to become a successful Hard Money Lender. Space and availability is extremely limited. For more information click here
Florida Hard Money Lender
florid28@floridahardmoneylender.com
Real Estate Investors Group
PO BX 266735
Weston Florida 33332
We want to earn your business and grow with you!
