Hard money lending in the real estate market is a rapidly growing sector, but there are still many investors who are not aware of it. There are many good reasons why this lending concept should be more familiar to you, including its significant positive aspects. The main thing that makes this loan type different from the conventional ones is its ability to provide funding to the lenders at a much higher interest rate. This type of investment is based on credit score and not on the individual credit history. In other words, anyone regardless of their credit history can invest with this type of loan. With the current economic crisis, more people are looking for ways to save their financial resources, and this is the reason why this loan type is becoming more popular every day.
Alternative Funding Properties Thomas Rothstein, an independent financial consultant based in New Orleans, has recently released his top-rated list of the Top Five Hard Money Lending Institutions for real estate investment properties. New Orleans – Thomas Rothstein, also known as Tom, has released his top-rated list of the Top Five Hard Money Lending Institutions for investment properties Alternative Funding Group. According to his research, New Orleans has been one of those cities that have consistently attracted investment properties from across the United States and the world. It is because of these reasons that New Orleans continues to be a thriving city. You will find below some of the reasons why this metropolis continues to be the top choice of investors everywhere.
Location is the first and foremost reason why New Orleans continues to be among the top choices for financing investment properties. The city is a tourist destination, where millions of visitors visit on an annual basis. These tourists spend most of their time shopping, dining or sightseeing around the Big Easy. In fact, it is the second largest city in Louisiana and is considered one of its key business centers.
Investors have different motives when buying properties in New Orleans. Most of them are first time investors and want to take advantage of cheap real estate in New Orleans. Other investors may be looking at investing in an established neighborhood that is already fully developed. Still other investors may be looking for an area that is close to their office or home. Whatever the motive is for buying properties in New Orleans, there is no denying that this city offers lucrative financing options in its many different categories.
Another reason why New Orleans continues to be among the best places to locate an alternative financing group for real estate projects is that the city has a lot of support and cooperation from local, state and federal agencies. For instance, the Louisiana Department of Housing and Urban Development (HUD) has a lot of offices, departments and programs that distribute money to qualified applicants who have completed applications for housing grants. In addition, the U.S. Army Corp of Engineers has its Gulf Outpost Replacement Program Office in New Orleans. This office manages the awarding and administering of billions of dollars in federal grants that are aimed at supporting the economic recovery process in New Orleans and throughout the region.
As you can see from the earlier examples, government support is not only provided to groups looking for housing grants. It also supports groups that offer loans and other forms of capital to investors. These lenders often form what are known as “non-recourse” institutions, meaning that they only recover their investment if the investor uses the funds to repay the loan. The fact that New Orleans is experiencing a historic crime wave, means that there are going to be a lot of non-recourse investors searching for apartments and other properties to invest in. This also makes it an attractive place for first time investors.
Private investors are usually more interested in buying property than in operating a nursing home, although both are equally attractive. When it comes to locating an affordable housing group in New Orleans, private investors are usually more interested in purchasing apartments, condominiums and townhouses in the immediate area. They are also more likely to look for smaller renovation and maintenance projects that can be completed more quickly. You may find that private investors have a high demand for apartments and townhouses, but they aren’t going to be interested in purchasing homes, especially in areas where crime has been an issue. A housing financing group that targets investors more specifically will be a better fit for investors who want to purchase a home in New Orleans.
One final thing to keep in mind when looking for an affordable housing group in New Orleans is that you need to think about the quality of applicants. You will often find that the best and most affordable groups are made up of groups of volunteers. Because they do not receive any compensation for their work, their interest and motivation are naturally very low. Your alternative financing group should draw members who are motivated to make a difference and give 100% of their energy and commitment to your cause.