Office Building Hard Money Loans
- Rates – starting at 8%
- Term – from 4 months
- No Upfront Cost or Contracts
- Asset-based Lending
Office Building Hard Money Loans
Office buildings investment has seen a huge swing as the economy recovered from the financial recession. Vacancies are down, and new industries increased demand for new office spaces in major metro areas. Buyers in the past used traditional financing, but more recently, office building hard money loans offer an alternative capital source for investors.
Private capital works for investors because sometimes, you don’t have all the time in the world to secure financing. Waiting for a bank to approve your loan, submitting endless paperwork just don’t fit well in a competitive environment where you need to move fast. Hard money loans are the perfect tool for investors looking to close a deal quick. Traditional loans from banks can take up to 45 days or longer, hard money loans can close in as fast as a week. Once the deal is secured and the property purchased, the buyer is free to refinance the property with a traditional loan.
Another less known advantage of hard money loans for office building – flexibility. Too often, we get buyers who just got rejected by a bank because the property did not fit a ‘perfect lending’ criteria. Investors and bank can look at the same deal and reach two vastly different conclusions. Private lenders don’t have arbitrary lending criteria thanks to asset-based lending.
Fast Approval
Traditional loans can take several months to close. We can do it in a few days
Low Rates
Rates start from 8% with low cost to close. If we can find you a hard money loan you pay nothing
Up to 80% LTV
Access the maximum equity in your asset and unleash your investment portential
Hard Money Loans for Commercial Office Building
What is an office building? The answer is not so clear as you might think. Demand for office space exploded in large cities, with a sudden demand for office space. Traditional office buildings are an obvious choice for most businesses – but what about businesses who want a smaller space? Like sole practitioner attorneys or small start ups?
Creative office spaces and shared office spaces companies have taken the industry by storm. Common office space is ideal for smaller companies who don’t want to sign a three year lease and don’t want to worry about buying office equipment. Companies like WeWork have worldwide presence which shows their popularity.
In competitive leasing markets (like NYC and San Francisco) creative real estate investors are converting warehouses, industrial buildings, and retail spaces into office buildings. More and more tenants don’t care about being inside a traditional class-A building – as long as the space is in a good location and the landlord is open for a new type of tenant. In Los Angeles we saw old malls transform to into a new Google campus, and a textile factory turn to luxury offices.
Regardless of your investment strategy – a hard money loan to purchase an office building or refinance an existing loan – we can help you make your real estate plan a reality. With private lenders you have more flexibility to fund projects that are not traditional. If you need creative financing to an office building project or purchase, you can fill out out our simple submission form or call us any time 530-436-5630
Common Questions for Office Building Hard Money Loans
Here are the most frequent questions we get when it comes to hard money loans for office building:
Q: What can I do to increase my chances to qualify?
A: Make sure you have all of your paperwork ready – any underwriter will probably ask you questions about the property and about your experience as an investor. This is the part that usually takes the most time, so be prepared ahead of time.
Q: Are the rates going to be really high?
A: Hard money rates are higher than traditional bank loans. Since they are riskier, done faster, and require less underwriting, the rate is higher. Typically hard money loans will be 4-5% higher than standard interest rates.
Q: Why should investors take a high-interest loans if banks give lower interest rates?
A: Banks take a long time to approve loans, and they often apply very rigid funding criteria to deals. So if you have a special situation or circumstances, you may be out of luck. Hard money loans are also perfect for buyers who want to close a deal quick, and can’t wait 45 days for a bank approval. Hard money is not for everyone, but there are investors that are able to buy property not possible otherwise, thanks to hard money loans.
Q: Can I qualify if I have bad credit?
A: Yes. Hard money loans for office building is focused on asset-based underwriting. This means that your credit score is less important than the strength of the property you are buying. Your experience is still important, and a good credit score helps a lot – but burrowers with bad credit qualify for hard money loans all the time.
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