Based in Connecticut, Trevor Cole Commercial Corp. delivers debt and equity financing solutions focused on the real estate industry. Trevor Cole Commercial Corp. has in-depth knowledge of business loans and hard money lending strategies.
Hard money lending is a strategy in which the asset purchased serves as loan collateral. Also known as a short-term bridge loan, it enables investment purchases, such as equipment or supplies, to go forward in lieu of long-term financing. This reduces risk for both the lender and borrower. In real estate, short-term bridge lending is a means of achieving a rapid turnaround between the acquisition and sale of a property. Many commercial flippers find it challenging to obtain traditional financing for projects that involve the rehabilitation and repositioning of properties on the market. Given the risk involved in market forecasts, the purchased property serves as reliable collateral should a profit from the ultimate sale fail to materialize. A major advantage of this type of arrangement for borrowers is that their debt-to-income ratio is not a stumbling block to obtaining the loan. As they don't need to provide assurance that the debt can be comfortably repaid in the present, they are free to seek out short-term, high-reward investment scenarios.
1 Comment
|
AuthorTrevor Cole Commercial Corporation of New York City specializes in procuring funding for large real estate projects, including multifamily properties and office buildings across the nation. Archives
May 2022
Categories
All
|