Tuesday, March 31, 2009

Florida private money

Florida hard money (private money) loans are filling the gap for many investors looking to take advantage of a low housing prices.

Many experts are predicting that the home values are nearly bottomed out. This is great news for not only the US economy but also the major economies around the world.

What this also means is that real estate investors are looking to get in before the doors slam shut on a historic buying opportunity in not only Florida but the entire U.S. One of the main reasons that the financial downturn has lasted this long is because conforming lenders have all but forgotten about the real estate investor. Last year conforming lenders implemented a guideline stating that anyone with more than 4 properties financed are no longer eligible for conforming financing. It doesn't matter how much money you make or how good your credit is, banks WILL NOT lend to investors with more than four properties. This has left many investors stuck between a rock and a hard place.

Investors realize that now is the time to be buying properties. Most investors are picking up bank owned properties for pennies on the dollar however a huge percentage of these investors don't have enough capital to purchase these properties cash.

Read the rest of the article on Florida hard money.