At NV Capital Corporation in Las Vegas, we provide REO loans to investors looking to quickly turn a profit on distressed commercial properties. If you’re looking for a lender to fund your real estate investment, look no further. Whether you need funding for a foreclosure, rehab loan, or short sale, we’re ready to help get you the financing you need fast.
Our hard money private real estate loans are available for a variety of commercial buildings.
Types Of REO & Distressed Properties
Distressed property lending can give you the cash you need to take advantage of a great deal. There are three categories of investment property to consider.
- Real estate-owned or REO properties are currently in foreclosure or didn’t sell at auction.
- Foreclosures become available for sale when the owner defaults on the mortgage.
- Short sales often sell for lower than the market rate under an agreement negotiated by the lender and owner.
What if you come across a great deal and don’t have the funds to pounce on it?
Distressed Vs. REO Commercial Real Estate
So the biggest difference between a distressed commercial property and a bank-owned commercial property is who currently owns it. Distressed real estate is at risk of being repossessed. REO real estate is already lender or bank-owned.
Short Term Funding, Faster Profits
Distressed property loans differ significantly from flip and fix loans. With a distressed property, you want to fix it up just enough to resell it at a profit, pay off what you borrowed, and walk away with your money.
The short-term nature of this type of lending makes it a great way to get started in commercial investment properties.
Funding Commercial Investment Properties
So, where do you look for investment money for a distressed or bank-owned property?
You can approach banks and other traditional financing institutions, but that can take some time, and they may have stringent requirements such as requesting collateral to back up distressed property loans.
Private money lending may hold the key to getting the cash you need to purchase distressed residential or commercial real estate.
Benefits Of Private Money Loans
At NV Capital Corporation, we want to support new investors looking to get into real estate. We’re just as happy to finance the dreams of seasoned commercial real estate investors.
Here are just some of the advantages of dealing with a hard money lender:
- Fast Turnaround Times. You may receive your money within 7 to 10 days.
- Loan Size. Were prepared to lend you $50,000 to $20 million. Our criteria for the amount you can borrow depends on other factors that commercial lenders don’t take into account.
- Short Loan Terms Available. Most hard money loans are paid off within one to four years.
- Higher Loan-To-Value Ratio. You can borrow up to 70% of the property’s current value.
Some borrowers get approval the same day they hand in the application.
Get Approved Today
Contact NV Capital Corporation in Las Vegas, NV, to learn more about our REO and distressed property loans. Or, apply today!