Hard Money

783 Words4 Pages
SoCal Mortgage Company provides a highly individualized level of service for clients seeking residential or commercial mortgage financing. Due to current economic conditions SoCal Mortgage Company is experiencing a notable increase in borrowers that require “Private Financing”, or “Hard Money”. This type of real estate loan is based primarily on the equity of the subject property. This situation, caused by the “credit crunch” has created an excellent investment opportunity for individuals seeking a higher than average rate of return for their investment portfolios. Our investors experience a high level of personal attention from Owner / Broker Mike Richardson, who has 37 years of experience in commercial banking and real estate finance. SoCal Mortgage Company interviews borrowers and determines if their situation would qualify for an investor funded private loan. We work with appraisers to ascertain the current property value. We also use several computer-generated data banks that can give us valuable information pertaining to property values, and community property trends. Occasionally an appraisal may not be ordered if it is determined that the subject property has an obviously favorable equity position relative to the proposed loan. A loan escrow and title policies are opened for each transaction. Once the required documentation is available, the loan documents are produced and signed by the borrower. At that time we will contact investors and discuss the investment opportunity. Once loan funds are received from investors the loan is funded and escrow is closed. All trust deeds are recorded with the county recorders office and a title policy is obtained for each loan. When the borrower makes a monthly interest... ... middle of paper ... ... offer: • Attractive return – current interest rates are 9% to 13% • Short investment commitment, between 1 to 3 years • Less risk – each investment is protected by the real estate equity • Greater Stability – fixed interest payments do not experience market fluctuations Mike Richardson, the owner/broker of SoCal Mortgage Company has over 37 years of commercial property finance experience. His reputation is spotless among the commercial real estate financial community. As a commercial banker for over 30 years, and as a licensed mortgage broker, Mike Richardson has always placed reputation and integrity ahead of all other business considerations. We are always looking for qualified investors. To learn more about trust deed investing please call Mike Richardson at 310.375.7622. CitiBank Building 3812 Sepulveda Blvd. 310 Torrance, CA 90505 310.375.7622 off
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