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Finance Fast! Fulfilling Your Immediate Need for Loans

Posted by Builders Capital on Jun 25, 2019 8:42:48 AM

financing-3536755_1920by Jake Wengroff

Certain real estate projects have a need for speed: a bridge loan to complete construction, or a loan to fix and flip a distressed property. Further, if these properties are in hot markets where multiple offers might be an issue, a borrower or developer could be left out if financing isn’t immediately available.

Enter the private lender.

Private money lenders connect investors who lend money with borrowers or developers based largely on using the property as collateral. They are often considered an alternative for those seeking short-term financing.

Loan Criteria Differs From Traditional Lenders

Traditional mortgages are not always a perfect fit, as they require a lengthy approval process and strict adherence to an approval process often based on regulatory constraints. As such, borrowers and developers have found themselves at a loss when requiring financing in time-sensitive situations.

Private money lenders operate under their own individual loan criteria, which serve to shorten the length of time needed to get a loan funded. In general, such lenders consider project merit and the borrower’s background.

The Project’s Merit

Because private money lenders have years of experience working with investors, borrowers, developers, lawyers, government and others involved in real estate transactions in a local market, they are in a stronger position to assess the value of a project and the viability of a sale to pay off the loan before the maturity date.

The Borrower’s Background

Private money lenders are more likely to rely on a borrower’s experience with similar real estate projects and less on credit scores and income history. Such lenders have the freedom to overlook the more traditional criteria in the loan approval process, and are an attractive option for borrowers with spotty credit. Instead, private lenders are primarily concerned with the amount of equity the borrower has invested in the property that will be used as collateral.

Flexibility Means Faster Turnarounds

With such flexibility and freedom, loans issued via a private lender are often approved in one week—sometimes within the same day. This shortened time span can be crucial to the success of a project.

As a further advantage, a private money lender like Builders Capital will work with the borrower after closing on servicing the loan, including ordering inspections. This additional layer reduces the time and headaches that can otherwise accompany the loan process, as the borrower or developer need not waste time on administrative tasks and can focus on project completion—and a speedy exit.

 

Tags: Financing

"Bowtie" Economist

Posted by Builders Capital on Feb 28, 2019 4:41:07 PM

On February 27th & 28th Builders Capital hosted the "Bowtie Economist" in Bellevue and Portland. Elliot Eisenberg Ph.D. gave an entertaining presentation on the economy as a whole, as well as focused look at the housing markets in Seattle and Portland. It was very educational and we really enjoyed hosting Elliot! He shared that the economies in both Seattle and Portland are going strong, with steady growth in population. In conclusion, our markets need more housing, especially for entry level buyers.

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Director of Sales: Mark Woodbridge, Elliot Eisenberg Ph.D, and
CEO: Curt Altig

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Elliot presenting at the Meydenbauer Center in Bellevue

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Elliot presenting at the Doubletree in Portland

Tags: speaking events, events

Builders Capital Sponsors the 14th Annual Portland Home Builders Foundation Trap Shoot

Posted by Builders Capital on Oct 1, 2018 2:07:20 PM

On September 14th, Builders Capital sponsored the 14th annual Trap Shoot benefiting the Portland Home Builders Foundation (HBF).

This year's competition was the biggest to date with over 65 teams. Builders Capital was proud to represent with 2 teams. Although we took our best shot at taking home the trophy, we came home empty handed. But we did gain fun memories and new relationships with builders and vendors.

In support of the HBF, the event made over $110,000. Funds raised will support HBF’s mission to build and renovate shelters for those experiencing homelessness throughout the Portland metro area.

We'll be practicing our shots to take home the trophy next year. In the meantime, check out photos from the event below!

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Tags: events

Join Builders Capital at the Seattle Build Expo 2018

Posted by Builders Capital on Sep 17, 2018 3:16:59 PM
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Builders Capital is joining the Seattle Build Expo this week at the Washington State Convention Center on Wednesday September 19th and Thursday September 20th.  

We invite you to stop by our booth #402. Our team of loan officers are excited to discuss Builders Capital loan programs and other value-added services for builders and investors, including our new Fix and Flip Loan.

Don't forget to enter our giveaway to win a $250 gift card prize to El Gaucho!

More details about the event can be found at the Seattle Build Expo website: http://buildexpousa.com/Seattle_Register_Attend.html

We'll see you there!

The Builders Capital Team

Tags: events

Builders Capital Sponsors the HBA Parade of Homes Pre-Party in Colorado Springs

Posted by Builders Capital on Aug 23, 2018 11:17:57 AM

UntitledBuilders Capital was proud to sponsor the Roaring Twenties themed speakeasy soiree, the pre-party event of the HBA Parade of Homes 2018.

Attendees got their wiggle on and found out what was shakin' in the moonshine mill (prohibition punch included!). While shimmying the night away, the Builders Capital team connected with flappers, dappers, and silent screen stars to kick off a swanky Parade of Homes weekend. 

Check out photos from the grand affair:

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We hope to see you at our next event!

Tags: events