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Commercial Hard Money Lending

Commercial Hard Money Lending. 1512 Broadway Detroit, Michigan 48226 hardmoneyguye@yahoo.com (313) 772-1958. “Hard Money Easy Profits.” ~ Lee Anthony Loan Consultant – Hard Money Guye. hardmoneyguye@yahoo.com. What is Hard Money?. Source: http://en.wikipedia.org/wiki/Hard_money_loan.

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Commercial Hard Money Lending

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  1. Commercial Hard Money Lending 1512 Broadway Detroit, Michigan 48226 hardmoneyguye@yahoo.com (313) 772-1958 “Hard Money Easy Profits.” ~ Lee Anthony Loan Consultant – Hard Money Guye hardmoneyguye@yahoo.com

  2. What is Hard Money? Source: http://en.wikipedia.org/wiki/Hard_money_loan A hard money loan is loan where a borrower receives funds secured by real estate. Hard money loans are typically issued at much higher interest rates than conventional loans. Many hard money mortgages are made by private investors, generally in their local areas. hardmoneyguye@yahoo.com

  3. Is it Regulated? "Mortgage loan" means a loan secured by a first mortgage on real property located in this state and used, or improved for use, as a dwelling and designed for occupancy by 4 or fewer families or a land contract covering real property located in this state used, or improved for use, as a dwelling and designed for occupancy by 4 or fewer families. • Mortgage Brokers, Lenders, and Servicers Licensing Act – MCL 445.1651 • Mortgage Loan Originator Licensing Act – MCL 493.131 • Secondary Mortgage Loan Act – MCL 493.51 • Consumer Financial Services Act – MCL 487.2051 • Consumer Mortgage Protection Act – MCL 445.1631 • Mortgage Lending Practices Act – MCL 445.1601 • Regulation X – RESPA • Regulation Z – TILA • Regulation B – ECOA • Fair Credit Reporting Act • Various FTC Rules • Safeguard Rule • Red Flags Rule (ID Theft Prevention) • Risk-Based Pricing Rule hardmoneyguye@yahoo.com

  4. Why Hard Money? Faster Process Flexible Lend using ARV Leverage Equity Higher Debt Ratio Distressed Property hardmoneyguye@yahoo.com

  5. Leveraged Investing Your out of pocket costs: $6,750 – Closing Costs $2,500 – Property Tax Impound $5,400 – Monthly Interest $14,650 Return on Investment (ROI) hardmoneyguye@yahoo.com

  6. Purchase-Rehab Loans Borrow against the projected After Repair Value [ARV] Purchase Price + Repair Costs Setup Fund Control Release as Repairs Completed hardmoneyguye@yahoo.com

  7. Property Requirements Brick Steel Glass 5 Unit or Plex Multi Family Retail Parking Lot Desired Redevelopment hardmoneyguye@yahoo.com

  8. Appraisals • Specialized Appraisal • List of Required Repairs by Licensed Contractor • Predominant Sales • Company Approved Independent Licensed Appraiser • Desktop / Full Appraisals hardmoneyguye@yahoo.com

  9. Borrower Profile • Home Owner • Experience with Property • Ability to Repay • Credit History • NO Recent Foreclosures • NO Current Bankruptcy • NO Consistent Negative Issues hardmoneyguye@yahoo.com

  10. Be Prepared Appraisal Loan Application Credit Report Income Documents Title Commitment Purchase Agreement • Cash into Project • Minimum 10% • Realistic Exit Strategy • Extension Available • Property Taxes • Escrowed / Impounded • ACH Payments • Automatic Withdrawal • CONTACT: • Lee Anthony • 313.772.1958 • hardmoneyguye@yahoo.com hardmoneyguye@yahoo.com

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