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Questions
An Earnest Money Deposit (EMD) is a sum of money that serves as a demonstration of the buyer’s commitment to a real estate transaction. It is typically submitted along with an offer to purchase a property and is held in escrow until the deal closes. At 32 East LLC Real Estate Investments, we use EMDs to secure our clients’ positions in real estate transactions, providing assurance to sellers and helping our clients compete in the market. Should the deal proceed as planned, the EMD is applied towards the purchase price or closing costs.
At 32 East LLC Real Estate Investments, we understand the importance of speed in the real estate market. We strive to process and approve applications as quickly as possible, often within a matter of days. Once approved, funding can typically be disbursed within 2-3 weeks for most loan products, ensuring our clients can seize opportunities and move forward with their real estate ventures without unnecessary delays.
Private money lending offers several advantages for real estate investors compared to traditional bank financing. With private money lending from 32 East LLC Real Estate Investments, investors can benefit from faster approval times, more flexible terms, and streamlined processes. Additionally, private money lenders are often more willing to finance properties that may not meet the strict criteria of traditional banks, providing investors with access to opportunities that might otherwise be out of reach.
Hard money lending differs from traditional bank loans primarily in terms of speed, flexibility, and eligibility criteria. While traditional bank loans typically involve a lengthy application process and strict qualification requirements, hard money lending from 32 East LLC Real Estate Investments offers faster approval times, more flexible terms, and greater consideration of the property’s potential value rather than the borrower’s credit history or financial standing.
Debt service coverage loans from 32 East LLC Real Estate Investments are designed to finance income-producing properties such as rental properties, multi-family residences, commercial buildings, and mixed-use developments. These loans are typically secured by the property’s cash flow, with the property’s ability to generate sufficient income to cover the loan payments being a key consideration in the approval process.
Yes, GAP funding from 32 East LLC Real Estate Investments can be used to cover renovation costs for fix-and-flip properties. GAP funding is designed to bridge the gap between the purchase price of a property and the total financing needed to complete the acquisition and renovation process. Whether you’re undertaking minor cosmetic upgrades or major renovations, GAP funding can provide the additional capital you need to maximize the potential of your fix-and-flip project.
Bridge loans from 32 East LLC Real Estate Investments are short-term financing solutions designed to provide interim funding until permanent financing or a longer-term solution can be secured. Unlike other types of short-term financing, such as hard money loans, bridge loans are typically used to facilitate specific real estate transactions, such as the purchase of a new property before the sale of an existing one or to bridge a funding gap during renovations or upgrades. Bridge loans offer flexibility and convenience, allowing investors to capitalize on time-sensitive opportunities and navigate transitions in their real estate portfolio with ease.
At 32 East LLC Real Estate Investments, we stand out for our unwavering commitment to client success and satisfaction. With a focus on efficiency, expertise, and innovation, we offer tailored financing solutions designed to meet your specific needs. Our top-notch client services, combined with our reliable work expertise and industry-leading knowledge, ensure that your real estate ventures are in capable hands.
