Straight answers on hard money loans, fix-and-flip deals, bridge loans, and getting a deal funded, from a Tampa Bay broker with 31+ years in the business.
Hard money basicsHard money loans in Florida are real estate-secured loans commonly used for short-term investment needs, such as buying a property that needs work, bridging a financing gap, or refinancing an investment property. Private and specialized lenders evaluate the property, the borrower, the proposed loan, and the plan for repayment. They can help with a transaction…
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Fix-and-flipYou found a house in Tampa that needs work. The asking price looks reasonable, the renovation opportunity is promising, and comparable homes suggest there could be room for a profit. There's just one problem: You need money to buy the property, and you still need money to renovate it. That's the financing challenge behind many…
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Bridge and other loansYou found the property. The seller has a deadline. Your money is tied up in another investment, or the long-term financing won't be ready in time. The deal may make sense. The timing doesn't. That's the problem a bridge loan is designed to solve. Bridge loans in Florida provide temporary financing secured by real estate…
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Getting approvedYou found an investment property worth pursuing. The seller is ready, the numbers look promising, and the closing deadline is approaching. Now you need financing. What does it actually take to get approved for a hard money loan in Florida? Hard money lenders evaluate the property, its value and equity position, the borrower, the requested…
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Tampa Bay marketsA house in St. Petersburg, a rental property in Brandon, and a renovation project in New Port Richey can look attractive on paper. They're not the same investment. Different neighborhoods attract different buyers and tenants. Property conditions vary. Insurance and flood exposure can change from one street to another. A renovation that makes sense in…
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Fix-and-flipFix-and-flip deals often depend on speed. A good opportunity can disappear quickly, and a slow file can create pressure on everyone involved. The fastest closings usually start with organized numbers and realistic expectations. A vague repair number makes the deal harder to evaluate. You do not need every invoice on the first call, but you…
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Getting approvedHard money loans are usually more flexible than bank loans, but flexible does not mean undocumented. Ron still needs enough information to understand the property, the equity, and the borrower's plan. Start with the address, property type, purchase price or payoff, estimated current value, requested loan amount, and timeline. Residential, commercial, multi-unit properties, mobile homes…
Read the articleCall me with the address, the numbers, and your timeline. I answer my own phone.
Call Ron: (727) 424-2720What to have in front of you
Not all of it? Call anyway. I will tell you what I need. I only do investment property.
