Signed in as:
Signed in as:
Search listing coming soon
It goes by a lot of different terms. You’ve probably heard it referred to as, “Private Money,” “Equity-Based Financing,” “Bridge Financing,” or “Creative Financing,” and for the most part, they all mean the same thing.
It’s non-traditional financing that relies on the property’s merits, rather than your personal qualifications. These types of loans are often secured by a note and deed of trust in first lien position on the property.
This means, if you have a great deal, you can find the money to do the deal and WIN REI FUNDING, LLC AND COGO CAPITAL wants to be your funding source!
There is this misunderstanding that the only people who use hard money (or OPM) are the people who have bad credit, bankruptcies, short sales, and foreclosures on their record and can’t get access to cash any other way. While this is true in some circumstances, many very successful real estate entrepreneurs use hard money each and every time they buy a property.
Why would real estate investors with liquid and sizable cash reserves on hand still prefer to use OPM (Hard Money Loans) every day of the week? Why would heavy-hitters, with gobs of personal cash, regularly use OPM?
Habitual, hard-core Deal Makers understand that if they leverage their own cash reserves, they simply tie up their own money for 6-12 months. This makes it impossible to buy more properties based on the amount of money in their bank accounts, which serves as proof that they can service loans on varying cash-flowing properties.
By leveraging OPM, they keep their own money liquid, which means they can do more deals, more often!
The biggest blunder any investor can make in real estate is to shop too early for money, yet this is the most common mistake we see investors making in real estate. The rule of thumb is: it’s much easier to shop for cash when you have a deal in hand and under contract.
Why? Because as long as that property is not under contract, it’s up for grabs by anyone and everyone and no lender will spend time and resources on a property that can be snatched out from under the borrower at any moment’s notice.
Putting the house under contract is an easy enough, 4-Step process.
Once these 4 Steps are completed, you have a fully executed Purchase and Sale Agreement, the property is under contract, and you are ready to shop for cash. If you’re ready to shop for cash, then make sure you fill out this easy WIN REI FUNDING AND Cogo Capital Application.
Hard Money is commonly considered “Really, really expensive money unless you know what you’re doing.” But actually, it’s much more than that. Although Private Money tends to be more expensive than conventional financing, its benefits often outweigh its costs.
Having a Hard Money Lender, like Cogo Capital, in your court gives you confidence to put properties under contract. As long as you find the no-brainer deal that fits our guidelines, do the proper due-diligence, and turn in an application, you can be rest-assured that the deal will fund!