American IRA, a National Provider of Self-Directed IRAs, announces its sponsorship of the Pitbull’s 26th National Hard Money Conference on March 21st in Fort Lauderdale, Florida. Learn how to create a pool of funds and avoid those lender induced headaches!
Jim Hitt shares, “As an entrepreneur, I have owned everything from single family homes to multi-million dollar commercial properties. Being self-employed has tremendous benefits…yet when it comes to lenders…being self-employed can be an obstacle. It seems the more creative the deal, the more resistant traditional lenders can be. Hard money lenders are more inclined to loan money in those situations because they know that creative deals can lead to excellent returns.”
Those that work in the hard money industry are more familiar with the tight deadlines their clients face. They know that their clients need to obtain their funds quickly to secure their deal. That is why many people turn to hard money lending, they want to spare themselves:
- Up-front fees
- Unnecessary paperwork
- Attempts to circumvent them and their fees
- Or worse yet, a long drawn out underwriting process that goes on for so long that it causes their deal to die on the vine
Jim Hitt says “This is exactly why we sponsored this event, we know how beneficial hard money lending can be to creative investors. Still, I can’t stress enough…always do your ‘due diligence’ and always consult professionals when entering into a hard money loan. Whether you are the lender or the borrower, it is important to make sure that your interests are protected.”