Finding the right funding for your commercial real estate property financing is one of the most important decisions you will need to make as a commercial real estate investor. While banks and traditional lending institutions might not always be the best places to go to for funding your real estate needs, it is important that you look at other forms of commercial real estate financing. Hard money loans are often considered as a boon to commercial real estate investing because they are quick to process, require less documentation and are just as safe and secure when done right. Here are 3 simple ways to find the best hard money lender for your commercial real estate.
#1 - Count on the testimonials provided by customers on the lender's website
If you look up for "Hard money lenders for commercial real estate near me", you'll be shown many results on Google and a simple browse through across all these websites will paint you a vague picture of hard money lenders around you. With so many of them popping up, judging who's the best and who's not might get tricky. One great idea to know who is really good and to sift the good hard money lenders from the bad ones is to check for client testimonials on their websites. A good hard money lender will have no short of good customer testimonials and a genuine one will always be interested to entertain your queries about their processes and past work.
#2 - Ask around for the best hard money lenders in your locality
Word of mouth marketing is the best marketing there is for a reason - it is authentic and reliable! Ask around in your family and friend circles about the best hard money lenders. You will find many leads and you can take it forward from there.
#3 - Prepare a simple questionnaire for your hard money lender and be ready to have open and honest conversations
Do not approach hard money lenders with zero idea about how they work and their past experience. Do your research and homework beforehand and prepare a simple questionnaire consisting of all the doubts you may be having about your loan.