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You Know You Need a Private Commercial Real Estate Loan, When…

Manholding a model of a house in his hands.A few years ago, traditional loans entered a period of home foreclosures reaching a new high nationally. As new legal protections for homeowners are now active, foreclosures against real estate loans in Minnesota are focusing on commercial entities that lack the protections of private individuals.

There are plenty of lenders around Minneapolis willing to discuss restructured loans for homeowners but the same, perhaps, cannot be said about commercial real estate loans in the St. Paul area.

When You Benefit from Private Lenders

There are times when getting a loan from a private source becomes a necessity

  • When you are in foreclosure on a commercial property, but know you can get a new loan
  • When have gotten behind in your payments on a commercial loan and need time to sell the property so you don’t lose it
  • When a previous bad deal has cost you a good credit rating
  • Whenever time is working against you

Think about how many deals you have lost because of technicalities in requirements. When you find a great deal on an apartment or office building but the occupancy rate is lower than traditional lenders require, private financing gives you the time to get the spaces rented out, in order to get the bank loan you need.

Long-term restructured commercial loans are possible but by the time you get qualified, the foreclosure process may already have passed into the courts: on average, the process of refinancing through a traditional lender takes anywhere from 6-months to a year. In such instances using a private commercial real estate loan for a Minnesota property is your best bet.

When you locate that perfect spot to build something really cool – the one place that only your idea would make sense in the community, you need a private lender that knows your market area specifically.

For example, when you spot a piece of land hiding in some area of St. Paul that screams for your creative attention, you need to find a Commercial Real Estate Loan MN. The same applies in situations when you need cash faster than any bank loan can process it; you need a private lender that can work with you.

How Private Real Estate Lenders Work

Private lenders are a reputable group of people who are licensed in the state to loan money on a short-term basis – usually 6 – 18 months. All the terms of your loan are up front and in writing so that there are no surprises. The main difference between a private lender and a conventional lender is that private lenders focus on the value of the property while traditional lenders focus on your financial value.

Do you need a loan for your next real estate project fast, maybe to pay off back taxes or to avoid foreclosure until other solutions kick in? If your story makes sense, we will fund you. We provide loans from $50k to $3 Million.

We fund:

  • land
  • apartments
  • any type of investment property
  • lake shore
  • non-homestead flips
  • commercial and development

We’re a short-term lender. We also purchase contract for deeds and real estate notes.

Email or call us today

Do you need a Hard Money Loan for your next real estate purchase or refinance fast?