As experts in hard money lending and bridge loans, we often think in terms of assets and liabilities. It is in our nature as a hard money lender. The thing is this: assets and liabilities aren’t always tangible objects. They aren’t always expressed in terms of real property, cash accounts, etc. Even business relationships can be seen as assets and liabilities.
That being the case, we firmly believe that a hard money lender should be an asset rather than a liability. When an investor comes to us looking for a hard money loan to obtain a new piece of property, it is in his best interests that we do whatever we can to help him reach his financial goals. But guess what? It’s in our best interests, too.
What It Means to Be an Asset as a Hard Money Lender
Our services are obviously not tangible in the same sense as the property one of our clients is attempting to buy. So how can we actually be an asset to the investor? What does being an asset actually mean?
Certain parts of the real estate transaction our client is involved in will have a direct impact on his ability to complete the purchase in a timely and efficient manner. Other aspects will directly impact his ability to make money on his investment. We are an asset when our services help to facilitate the best possible outcomes for both.
We Don’t Waste Time
We are an asset to the borrower inasmuch as we don’t waste time. Most of the clients who come to us are working on deadlines – either self-imposed or imposed by the seller. Either way, we get to work quickly. We do what needs to be done without delay so that the client can get on with the acquisition.
We have been known to approve and fund loans in as little as one business day. When a client is on the verge of losing their property because a previous hard money lender backed out and he can’t close the deal on time, coming to us saves the day. That has a direct impact on him meeting his financial goals.
Fast Cash with Few Hoops
Another way we can be an asset to borrowers is by giving them access to fast cash with few hoops to jump through. Our paperwork needs are minimal. Our underwriting process is simple. We don’t continually ask the client for more, ultimately stringing out a loan application for months at a time.
This becomes an asset to clients who already have their plates full trying to complete whatever transactions they are working on. They don’t need any more hassles. They do not need any more hurdles or problems. We don’t give them any.
Fewer hoops to jump through means faster approval and funding. Faster approval and funding leads to closing deals more quickly and efficiently. And in the end, it is all good for the client’s financial bottom line.
Time for a New Hard Money Lender
We get the fact that you have plenty of options for borrowing. Whether it is hard money or traditional loans, you are not facing a shortage of choices. But here’s what we want you to know: if your current lender tends to be more of a liability than an asset, maybe it’s time to find a new lender. Perhaps Actium Partners would be a better fit for you.
We feel it’s part of our responsibility to always be an asset to clients rather than a liability. That way, we both win. Think about it. Your hard money lender should be an asset rather than a liability. If that’s not the case, perhaps it is time for a change.
