Some quick thoughts on private money loans – alternative collateral.
Scenario: you need down payment or cash to purchase a piece of property. Lets say you have identified an apartment complex in San Antonio and need Hard Money. Your other San Antonio investment real estate has current liens and you cannot use as leverage.
You call us about some apartment Hard money and we uncover that you have Oil Leases worth about 1 million. We would consider loaning against the oil leases & royalties to give you enough cash to purchase or use as down payment on the apartment building.
IRA (non recourse only), stocks and bonds, CD, some sort of annuity….
Thats why a detailed personal financial statement is critical even for hard money.
Should you need hard money in Texas, please let us know.