Do You Do Any Other Types Of Hard Money Loans? 
Yes. We will evaluate loan requests and the underlying collateral on a case by case basis. There are many different types of hard money opportunities out there. If your deal makes sense, we’ll find a way to finance it.

What Is Acceptable Collateral For A Rehab Loan?
We will lend on Non owner-occupied residential real estate, commercial and industrial properties and mixed use properties.

Can I get Pre-Approved For My Loan?
We can pre-approve your loan in writing (via e-mail) usually in less than 1 day.  

How Long Will It Take To Close A Loan?
Subject to satisfactory appraisal and legal documentation, closing your loan should typically take only 7 to 10 days. A critical component to every deal is getting the appraisal process started ASAP.

Will You Fund Repair Costs?
Yes - We will typically advance up to 3 draws to fund repairs as they are made. All draws will be made after site inspections and will be net of the inspector’s fee.

How Long Will It Take You To Fund Repair Costs?
That depends primarily on getting a timely inspection of the work completed. Contact us so that we can contact our appraiser/inspector so they can schedule a site visit with you. Upon receipt of the Inspector’s report (Inspector’s initials next to each of the completed items set forth in the Scope of Work Form) and a signed Draw Request Form (step 3 on the Scope of Work Form) we can typically fund in less than 48 hours.

Is My Credit Score Important?
We'll run your credit report and review it to see if your credit history gives us comfort that you can repay the loan. We base our credit decisions primarily on the underlying collateral value and the viability of the project and not your credit score.

Will You Lend To A First Time Rehabber?
If the project looks viable and your credit score makes us comfortable, we will find a way to get your first deal financed.

How Do You Determine The Appraised Value?
We engage an independent appraiser familiar with real estate in your local area. The appraiser takes the itemized list of repairs and improvements set forth in the Scope of Work Form and determines the value of the property "As Is" and the After Repair Value "ARV". You pay the appraiser directly with a cashier’s check or money order at the door or you can pay with your credit card simply by supplying us with your credit card number.

Will You Extend The Loan?
We will work with you depending on your needs and the situation. Extensions are reviewed on a case by case basis and we generally charge a 2 point fee to extend.

What States Do You Lend In?
We focus our lending in NY, CT, RI, NJ, PA, MD, DE & Fl but we will review deals in other states on a case by case basis.

EXAMPLE DEALS
Rehab:  Our borrower found a house for sale for $100,000.  The comps in the area were all $200,000 or more, but the house needed some work and was on the market for several months. The After Repaired Value appraisal was $175,000.  The sellers were a couple who had inherited the house from a grandparent free of any liens and wanted the cash as quickly as possible.  We loaned the investor $75,000 towards the purchase and we funded the $25,000 of repairs after inspections. The house was sold 6 months later for $185,000.

Short sale:  Our borrower agreed to purchase a house immediately prior to foreclosure and simultaneously negotiated to settle the mortgage with the bank for 90 cents on the dollar.  The net purchase price was $45,000 and the repairs were estimated to cost $25,000. The After Repaired Value appraisal was $150,000.  We loaned the investor $45,000 for the purchase of the house and $25,000 was disbursed as repairs were made, subject to inspections.  The house was sold 4 1/2 months later for $142,000. 

Restaurant deal:  An investor had a small window of opportunity to purchase an existing well known restaurant in a popular area of NJ. The purchase price was $800,000. The investor had $500,000 and needed $300,000 financed. We agreed to lend the money for 6 months, enough time for him to find additional long term investors. We received a 1st lien on the business and all the assets which included kitchen equipment, sound equipment, assignment of long term lease and a lien on the liquor license.