#1 LockState LS-60DH von Mims 29.02.2020 06:39

What are bridge loans? What bridge loans are really for? How to obtain a bridge loan? How that can help you in real estate investing or your business purposes? All these questions will be answered by the end of this blog post.


Letís get started with the whole concept of hard money bridge loans. Itís pretty quite simple.


A bridge is basically for getting you over the river. If you are travelling and there is a crevasse or vein that you would like to get over Cheap NHL Hockey Jerseys , so there is a bridge that is taking you from one side to another side.


The same holds true when it comes to private money or hard money. Please excuse my analog if it is too simplified but I think it really proves the point.


The point is that you are at one corner and you want to be at another corner, within a short period of time. A bridge can take you to that other corner and also not in a long span. So, it wonít go over miles and miles.


The situation and purpose that it is used for, number one it is a short term thing. Number 2 is you know the destination Cheap Hockey Jerseys , so you the exit strategy.


You know where you are at and you know where your exit strategy is but you are missing that gap and so, you need a bridge in between those two.


The perfect situation for that is that you have found and located the property. May be, you have found the property for your business and you want to buy that property but itís in a foreclosure situation or someone is in desperate situation and need cash straight away.


You have got to come up with money that can actually pay that off. But you banker is going to take 60-90 days before they are going to get the whole deal approved.


What you need to do is to have quick cash to make that acquisition and then you know that for 90 days, you will take out financing. So Cheap Authentic NHL Jerseys , you need to bridge the gap in between them.


These are the rules of bridge loans:


1. It is short term loan. Itís not for a long period of time.


2. You have a clear cut exit strategy.


3. It has a good equity position. So, whether you are buying it for a good equity position or you have the ability to put some money down and you just need a portion of that. Itís going to be in a good equity position.


When it comes down to a bridge loan, itís really actually an easy loan. Let me give you an example. If you have done any financing likely through a bank or an institution, you can relate to this story.


A friend of mine has gone through a refinance on his personal house through a bank. He has a lot of money in the bank Cheap NHL Jerseys Wholesale , lot of assets; he is a business owner and everything else like that.


But he was telling me how difficult it was to go through the refinancing process through bank and how they wanted every piece of documentation, you can think of under the sun.


At the end of it, he said I donít know if it was even worth it. I have got cash in the bank to just pay off that house but I wanted to keep my cash in liquid, in case I needed that for the business or investment. But I just canít believe what they were asking for Cheap NHL Jerseys Free Shipping , when it came down to it.


The reason for that is that those banks have tightened down so much. Their processes are taking so long. They are checking everything. They are worried about everything.


They donít want to make the same mistakes that they have made in the past. So, that process is taking long time.


So, if he was in a situation where he needed to acquire the property for some purpose, he would need to act fast on that and then Cheap NHL Jerseys From China , he would want to get some financing.


But he knows that period of finance going through traditional lender is so long and laborious that youíll never know how long it is going to take and he doesnít want the opportunity to run away.


When it comes to bridge financing, it is really easy. Hard money bridge loans are really easy to get and itís not hard at all. It really comes down to equity that you have into the deal, that you are putting down or you are buying into. You know its short term and you know the exit strategy.


Just like everything else, when it comes down to private money or hard money Cheap NHL Jerseys China , itís all equity driven. Itís driven based upon the collateral. So, you are going to make sure that you have a good collateral position, when it comes down to equity.


If you are looking for a short term bridge on real estate in between, where you are or where you want to be. If you have a clear cut exit strategy and if itís a short term situation and you have good equity position Cheap NHL Jerseys , there is a great chance that you would be able to get any type of hard money bridge loans, which is exactly what you should be looking for.


If you are looking for hard money bridge loans, then you need to have a clear cut exit strategy for real estate investment.


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