Residential Hard Money Loan

A residential hard money loan is a variety of loan the place where a customer will get funds in line with the price of a unique commercial or residential real estate investment. The term hard money refers to the difficulties in obtaining any loan. Hard money loans provide high rates of interest minimizing loan-to-value ratios, while there is no federal government institution which backside the loan...

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Recommended Reading

In the comments to my last post, Jason asked me what books I would recommend. I'm assuming he was referring to real estate investing books. That's actually a fairly tough question. I've been investing in real estate for 8 years now. I started out by reading a bunch of books, but looking back, I realize I've gained the majority of my knowledge from experience and from reading other people's experiences via blogs and forums on the internet.But if I...

Rents On The Rise Nationwide

This article from Reuters says apartment rents are now the highest they have been since 2007 and vacancies are at a 10 year low. This seems to be consistent with what we are seeing at the Houston apartment compl...

New California Foreclosure Law

Because all my hard money lending is done in California and to people who buy, rehab, and sell foreclosures, this news story caught my eye. The California legislature recently passed a law making it harder to banks to foreclose on property owners. According to Reuters, the bill prohibits banks from "dual-tracking" loans - proceeding with the foreclosure process while also in loan modification negotiations with the owners. The bill also lawsuits against...

May Apartment Update

I received the May financials for the Houston apartment complex and I'm pleased to see the numbers continue their improvement. Last month's record income was exceeded by almost $3,000, setting another new record for the highest income since 2010. Also, as mentioned last month, we received a reimbursement from our insurance company for some electrical work that was done last month. Just as the expense depressed our monthly income last month, the refund...

Security At Houston Apartment Complex

Last month, I noticed that the financials for the Houston apartment complex showed the security expense had dropped from between $1,500 and $3,000 a month to zero. My concern was that management eliminated some security measures as a cost cutting move. I was worried that this might result in an increase in vandalism and crime-related expenses. I emailed management about this and, it took a while, but I finally got a response.It turns out, management...