Using a Hard Money Loan to Close a 1031 Exchange Quickly
Being that 1031s can be on tight schedule, Hard- Private money can be answer.
For Texas Hard money deals (50k- 5million) our group is the answer.
The speed of hard money is is what private financing provides.
. A hard money lender that lends their own funds or acts as intermediary to a Private investor or private equity shop can provide funding generally within 30 days or less of receiving all information. Many in 7 days.
The hard money loan with a 1 – 3 year terms can help an investor close the transaction and stabilize the property while a more permanent loan is arranged.
Many times hard money is paid off via:
Bank, Agency Funding (HUD,FANNIE), Life Company, CMBS and more.
Our company – Texas Commercial Mortgage and Urban Coyote Funding (private lending) can facilitate these transactions.
While the interest rate (10-14% ) is higher than traditional financing, its quick and much cheaper than partner or not doing the deal at all.
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www.texaslandfunds.com