In the current lending climate nationwide, it has become increasingly difficult for real estate investors to finance their property purchases through tradition funding sources like national banks and mortgage lenders. The current slump in lending and real estate values has been especially tough on real estate owners and investors in California. In cities like Los Angeles, San Diego, San Francisco, Fresno and Oakland the drop in home values has created a difficult situation for financing. Due to this many residential and commercial property investors have turned to California hard money lenders and other private money sources for purchase financing or refinancing their acquisitions.

California Hard Money Loan Options

Flexibility is the main reason savvy and experienced real estate investors opt for hard money loans in California. With traditional sources of financing, the loan underwriting guidelines, credit history, asset documentation and the condition of the collateral make for a lengthy and drawn out process. Even when investors are in no hurry to close, there is no guarantee that a mortgage will be ultimately made. In contrast, hard money lenders don’t place as much emphasis on credit, income etc of the primary borrower. They give most importance and emphasis on the collateral. Many real estate investors have prospered by using the flexibility and speed offered by using California hard money.

Most banks don’t finance rehab and fixer-upper properties even when the market value of the property upon completion is very high. In those scenarios, using a established hard money lender who specializes in lending to your are of operation can be a great deal saver and money maker.

Brisk Business for CA Hard Money Lenders

The other day I wrote about Georgia hard money lenders who may not be doing brisk business unlike their counterparts in hard money business in California. The level of price correction in CA has been nothing short of disaster. Due to the once in a generation opportunity to pick up great real estate bargains in all major California cities especially Los Angeles and Sacramento, investors have been lining up for hard money. Georgia and especially Atlanta based hard money lenders have been actively looking for other nearby states like Florida and North Carolina due to more opportunities for business.

I will present more information to aid real estate investors in California looking for good hard money sources to finance the amazing opportunities in foreclosures, bank owned reo and fixer-upper rehab properties.

The  financial and credit crisis have given tremendous opportunity for real estate investors and new home owners to profit from the current real estate meltdown. In Atlanta and other major cities in Georgia, the prices have not risen a lot during the boom nor they have fallen off a cliff like in California and Florida.

Gerogia Hard Money Loans

The underwriting guidelines to buy both commercial and residential real estate have become really tough to qualify unless you have a credit score above 720 with at least 10-20% down payment. There are just no bank or mortgage lenders actively doing Georgia real estate investor or investment loans. If you are a Georgia investor looking for financing for your real estate purchase, you may have no choice but to approach a Georgia private money lender or an experienced and established Georgia hard money lender.

Analysis of Georgia Hard Money Lenders

When buying a Georgia REO owned by a Bank or a mortgage lender or buying a foreclosure property in Georgia, the quickest and efficient source of financing to make the deal happen in the current tough climate for traditional financing is approaching a GA hard money lender.

Georgia hard money lenders might save the day for even home owners with sufficient equity in their residential or commercial property. Since the hard money lenders usually don’t care much for the traditional requirements like credit, income etc, a good amount equity can certainly make the difference. Like most lenders and banks nationwide, Georgia hard money lenders have suffered severe losses due to investors and home owners walking away from their properties. Due to the current real estate climate, a lot of the hard money lenders in Georgia and especially in Atlanta have severely curtailed their hardmoney lending. So, referrals might come handy to find the perfect hard money lender to finance your real estate investment in Georgia. Happy RE investing!