Avatar's Blog
» Commercial and Residential Hard Money Loans
Avatar Financial Group indicates that it funds "improved commercial and investment residential real estate nationwide." Here is what it means and what properties qualify:
"improved" - real estate properties with a structure (or more than one) on it. This does not include land that has been prepared for construction with roads, utilities, plans, etc. That is still defined as unimproved properties. Once a building is completely constructed on the property - or at least 85% - 90% complete, then the property is defined as "improved real estate property."
"commerical" - any real estate property that is generating income. Avatar has funded an RV / camp resort. The "improvement'? Club house, picnic and bbq structures, storage units, marina and more. This was not just a series of parking spaces with water spigots standing by.
"invewstment residential" - residential properties, including single family dwellings that are not owner occupied. They are rented or otherwise used to generate income. If owner occupied, the residence must be held in a corporate entity such as an LLC, and the funds must be used for business purposes.
