Spodek Law Group - LosAngelesCriminalLawyers.com

This is a great question we often get asked. We're a Los Angeles hard money lender that handles all types of transactions. What's most important to us when we look at a potential los angeles hard money loan application, is whether the borrower can justify the loan. Does the plan he/she has, justify the investment? If the plan makes sense, then we'll fund it. If someone says they need 30-40% LTV in order to cover the costs of repairing a house, and we think their projections are accurate - we'll fund the project! So, to answer your question simply and plainly, yes you can use our funding to buy an investment fix and flip property. If you are an experienced fix and flipper, or if you're doing a fix and flip for the first time, we encourage you to contact us. In order to begin, have a game plan ready you can discuss with us. Tell us what the property's current condition is, what you plan on doing with it, the cost of construction, and frankly how much you need.

This is a question we often get from potential borrowers. The answer, is it depends. If you intend on living in the house, then no - the hard money loan we provide cannot be used. Due to federal guidelines, we cannot fund a house that you'll be living in. We can only fund projects that are deemed investment related.

With the large amounts of land available in California, this is a frequent question we hear. The answer is: it depends. At the end of the day we care about the likelihood of success of your project. If we think your project will succeed, then the answer is undeniably yes! We're a Los Angeles hard money lender who lends for all types of projects - even projects that are just empty parcels of land. At the end of the day, what we want is a compelling business plan that shows what you'll do with the land - and how you'll repay our hard money loan.

As a direct lender, we have no limits on the amount of money we can lend out. We typically handle hard money loans anywhere from $50,000 to $10,000,000. We can handle loans for less, or more. At the end of the day - we're obsessed with understanding what the opportunity is - and how we can help you. We focus exclusively on how you intend on making the project work. If you can justify the loan, we're happy to lend you the money on super fair terms that you'll agree with.

We offer very flexible terms. As a direct hard money lender, the ultimate decision falls on us to specify what the terms our. Most hard money lenders in Los Angeles are brokers, and so they can't control the terms as much as we can. We typically offer 6-24 month terms. But nothing is set in stone, and we can negotiate extensions as well. Typically it makes sense to discuss all of this upfront. Discussing it later can create potential problems.

We like to believe we're a competitive hard money lender in California. We try to do our best to give the lowest rates possible. We're a direct lender, so we don't have hidden fees, or other points built into our costs that other broker/lenders do. As a result, we offer low rates. If you believe our rates are too high for your project, we try to do our best to meet your expectations, or adjust the numbers in a way that suits your needs. While we don't guarantee matching the rates of other Los Angeles hard money lenders - we are definitely open to discussing how we evaluated your project, and seeing what opportunities exist to lower our overall risk on your project.

It really depends. If we have all the information we need, it can be done as quickly as 24 hours. If you're one of our preferred brokers, we can even offer pre-approval for certain projects. To be frank, we're super candid and transparent. If we don't think we can help you - we'd rather be straight up about it - so you can find a Los Angeles hard money lender who can help you. Usually, the biggest issue we face is not getting all the necessary documents. In some instances, we've seen documents that aren't entirely accurate. In this case, we have to do more investigative work to verify the facts of the project, and the property. When we're faced with misinformation, this can delay the approval process. Unfortunately, there's no way to get around it - we have to make sure all the information is accurate. If we get the information and it all checks out, then approvals are fast.

We never charge any fees for hard money loan applications. As a direct hard money lender, we process each application individually without any hidden fees.