Hard Money Loans Daytona Beach

We empower entrepreneurs, real estate investors, and businesses of all sizes challenge the status quo. We take risks on the go-getters, and do’ers – who have an opportunity and need a partner.At Delancey Street, we invest in people and their ideas – not abstract concepts like credit scores, or other financial metrics. Tell us about your idea, let’s discuss your opportunity

High LTV

We fund loans up to 80-90% LTV with no issues.

Fast

We promise to treat you like a partner.

No $ Limit

No limits on what we can do for you.

Recently Funded Projects

Residential Refinance
Residential Refinance

Residential refinance in Los Angeles, with a loan amount of $830k, at 75% LTV. We were able to help the investor get a loan at 8.99% with a balloon payment after 18 months.

Raised
$830,000
APR
8.99 %
ARV
75%
100% Funded!
Residential Investment
Residential Investment

Delancey Street funded a new residential purchase in California, for $1.2 million with 82% LTV. We helped the developer with a loan at 11% with a balloon payment in 9 months.

Raised
$1,200,000
APR
11 %
ARV
82%
100% Funded!
Residential Investment
Residential Investment

Property in New York was torn down, and redeveloped. We provided a 60% LTV loan for $700k. We charged no upfront fees, and had a balloon payment after 10 months.

Raised
700,000
APR
9.0 %
ARV
60%
100% Funded!

Hear from people we’ve helped

“Delancey Street makes lending easy. They took a chance on me when no one else would.”

- Leo kovacz

Industries We Service

Our team is always available, and ready to help

Our team of industry experts is ready to help with all of your business needs. Whether you’re looking for a reliable hard money lender, looking to go public via a reverse merger, or need private capital for a venture – we can help.

Industry Experts

Our team consists of extremely qualified industry experts

Quick Service

We work diligently, and quickly, to help you

We’re here to answer your
questions. Contact us anytime:

What makes a hard money lender different from a traditional lender

The main difference between banks and  hard money lenders is the fact hard money lenders are asset centric lenders. They focus on the asset associated with the by the person asking for the loan. In contrast, traditional banks focus on the borrowers credit and liquidity. It is very important to remember hard money loans aren’t good for the long run. The purpose of a hard money loan is to be a bridge loan that which helps you get the real estate you’re attempting to buy. Hard money lenders focus on short term loans that generate a great ROI. If you fail to repay the loan, then the company you borrowed from can take over your property in order to settle his/her loan.

Why shouldn’t you get a hard money loan?

There are many reasons reasons why a hard money loan is a terrible idea. For instance, hard money lenders look for higher interest rates. This is due to the fact lenders think they are taking substantial risks by lending on an investment property – and want to be reimbursed accordingly. High interest rates make hard money loans economically toxic for some types of deals. Moreover, hard money lenders have much shorter terms than traditional lenders – which also makes them unattractive. Institutional lender offer 30 year terms but hard money lenders offer only 1-3 year loan terms.

Hard money lenders can help finance your next loan

Hard money lenders serve a very specific group of people, i.e. real estate investors. Hard money lending is a type of bridge term financing, which is secured by property. Specifically, the people who use hard money loans are typically property investors – typically, people who are being denied a traditional loan due to stringent guidelines.

Hard money lenders exist because they are fast, and provide loans with little to no headaches. Hard money lenders have a smooth application system. They expect collateral and do not look at your credit rating. They focus on your expertise, rather than your credit score. In case you’ve got a bad financial past, it will be much easier to obtain financing with a hard money loan as opposed to a conventional loan that’s granted based on your credit report. Below are situations where hard money lenders fill a void that conventional lenders don’t touch:

Daytona Beach Hard money loans can be used for fix and flip real estate investors

Most traditional lenders won’t give you a loan to get a fix and flip job. If the house is in poor condition, or there’s some other abnormality with the home, then a traditional lender will not give you funding. Additionally, most fix and flip prospective deals”go quickly.” The seller is extremely motivated to sell the property, and will accept the first offer. Conventional lenders take forever, so by the time the loan is approved – you’ve already lost the property since someone paid money for it. For those who have a hard money lender on your side who will close a loan in 5-10 days, you can get the fix and flip property.

Loans from private money lenders are good for people who don’t have great credit

Most conventional lenders look at a borrower’s credit score. They look at your income and investigate past delinquencies. This means that somebody with a credit past will have a difficult time, and in some cases never get approved. If this happens, your only option is to use with a hard money lender. While the interest rates for a private loan are higher than traditional loans – if the deal makes sense, it might make sense to take the money.

Hard money gives you leverage

If you’re a real estate investor, more funding means more deals. By using outside hard money, you can get involved in more simultaneous deals that would otherwise not be possible. Traditional lenders consider your entire debt to income ratio, and won’t give you a loan if they think you owe too much money. In contrast, a hard money lender does not care about your income, nor do they care about your existing debt. The only thing a hard money lender will care about is the value of your property. Hard money loans are great for developers who need funds to get their project started but are not a fantastic fit for conventional lenders. Keep in mind, traditional lenders aren’t interested in taking on extra risks – they legally are not allowed to following the 2008 crash. Hard money loans can close faster than traditional loans from a bank, which allows you to move quicker. Many property sellers will be flexible on their price and willing to cut you some slack – if you can show you have funds available. Many property investors that rely on traditional lenders cannot move fast because of delays because of the cumbersome guidelines traditional lenders have. Speed and unlimited money, is why hard money is good.

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