Miami Beach Hard Money Lenders

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:

How is a hard money lender different from a traditional lender

The critical difference between traditional lenders and  hard money lenders is that hard money lenders are asset based lenders. They look at on the asset associated with the by the person requesting the funds. In contrast, traditional banks focus on your credit and how much cash the borrower has. It’s very important to remember hard money loans are not good for the long run. The purpose of a hard money loan is to be a short term loan that gets you the property you are trying to acquisition. Hard money lenders focus on short term loans that generate greater ROI than leaving the money in the bank. If you fail to pay the lender back, then the hard money lender can foreclose on your property in order to settle his/her loan.

When’s a good time to consider getting a hard money loan

Hard money loans serve as investment tools by investors. Here are some examples where hard money is good, such as:

Unable to find financing elsewhere. Funding real estate investments is complicated. Traditional mortgages are tough to acquire under normal situations. Banks are very cautious of extending a loan for purposes of real estate investments, as opposed to loans for primary residences. Because of this, if you’re looking for investment capital – then get a hard money loan.

You have a bad credit . Hard money loans are based off the collateral of the investment, not your ability to repay. Loans made to customers – as opposed to private money lenders – are centered around whether you’ll be able to repay the loan or not. This means if you’ve got a poor credit history or no steady income – then you might not get approved for financing. You need capital. Private money loans are great so you can get money ASAP. Traditional loans take time. Hard money is very fast. If you need to capitalize on an opportunity immediately, then it is possible to find a hard money loan. If you can wait a few weeks, then it’s better to find a hard money loan.

Hard money lenders can help finance your next loan

Hard money lenders assist a very specific group of individuals, i.e. property investors. Hard money lending is a type of short term lending, which is secured by real estate. 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 offer loans with little to no headaches. Hard money lenders have a streamlined application system. They anticipate collateral and do not look at your credit score. They focus on your experience, rather than your credit score. In case you have a checkered financial past, it’ll be much easier to obtain financing by using a hard money loan as opposed to a conventional loan that’s granted based on your credit report. Below are scenarios where hard money lenders fill a void that traditional lenders don’t touch:

Miami Beach Hard money loans can be used for repair and flip real estate investors

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

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

Most conventional lenders look at a borrower’s credit history. They look at your income and explore past activities. This means that somebody with a checked credit score will have a difficult time, and in some cases never get approved. When this happens, your only option is to work 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 bargaining power

If you are a real estate agent, more funding means more deals. By using outside money, you can work on more simultaneous deals that would otherwise be impossible. Conventional lenders look at your overall debt to income ratio, and won’t give you a loan if they think you have a lot of existing debt. In contrast, a hard money lender does not care about your income, nor do they care about your outstanding financial obligations. The only thing a hard money lender will fixate on is the value of your property. Hard money loans are great for developers who need funds to get their project started but aren’t a good fit for conventional lenders. Remember, traditional lenders are not interested in taking on extra risks – they legally are not allowed to following the 2008 economic crisis. Hard money loans are finalized faster than traditional loans from a bank, which permits you to move quicker. Many sellers will be extremely reasonable on their cost and ready to cut you some slack – if you can show proof of funds. Many property investors that rely on traditional lenders are unable to move fast due to delays because of the cumbersome guidelines traditional lenders have. Speed and unlimited money, is why hard money is great.

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