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PostPosted: Jan 31, 2019 - 06:19 PM 
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~ Tuổi Thơ ~
~ Tuổi Thơ ~

Joined: Feb 27, 2018 - 01:17 AM
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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.


Let’s get started with the whole concept of hard money bridge loans. It’s 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 NFL Hats , 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 won’t 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 NFL Shirts , 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 it’s 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 NFL Hoodies , you need to bridge the gap in between them.


These are the rules of bridge loans:


1. It is short term loan. It’s 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. It’s going to be in a good equity position.


When it comes down to a bridge loan, it’s 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 NFL Jerseys , 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 don’t 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 can’t believe what they were asking for Wholesale NFL Hats China , 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 don’t 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 Wholesale NFL Shirts 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 you’ll never know how long it is going to take and he doesn’t 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 it’s 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 Wholesale NFL Hoodies China , it’s all equity driven. It’s 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 it’s a short term situation and you have good equity position Wholesale NFL Jerseys China , 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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