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» Are Hard Mobey Rates Too High?

Posted on 11/8/2004
The answer is simple. The rates of any loan are only too high if you cannot make a profit by making use of it. When determining whether hard money is the right loan for you, know that the rates will be higher than bank rates for a similar mortgage.

However, if you or the property you are buying do not qualify for a bank loan, you have two choices: do not take advantage of the opportunity to use the funds on a real estate deal, or pay more for the financing of the real estate. If you can still turn a profit by buying investment real estate using a hard money loan, then do so. Next time, you will have the profits of the first deal to make the cost of the second deal less.
Posted in Miscellaneous