Hard money is not appropriate in some circumstances:
When you need money âlong term.âÂ Most hard money deals are for no more than 6 months to 2 years;
When the deal is âtight.âÂ Donât look for hard money loans higher than 65-70% of the conservative property value, if that.Â Hard money lenders arenât interested in losing money, and the only way to insure that is to lend based upon very conservative loan-to-value ratios;
Oddball properties.Â Not many hard money lenders are looking to get involved in farm operations, mobile homes, or geo-desic domes.Â Donât ask;
Principal residences.Â Hard Money Bankers, LLC is not properly licensed to provide loans to owner-occupants.Â We only lend on commercial or investment properties.