The coronavirus pandemic has brought a significant negative financial impact to countless households and businesses across the nation. With the implementation of mitigation protocol including mandatory lockdowns and social distancing, some industries have been particularly hard-hit, while others have prospered. The travel and hospitality sectors, for example, are experiencing trying times, while ecommerce and delivery entities that support the burgeoning stay-at-home transition are flourishing. With the ongoing uncertainty regarding what the future has in store, many real estate markets throughout the United States are reporting that home buying activity is just as robust as ever, and hard money lending continues to prove a reliable and accessible funding option for investors looking to diversify their portfolios.
While these are understandably challenging times for many, families still have to remain functional and they are largely reliant on a wide variety of businesses to provide them with the requisite goods and services to do so. Among the businesses that are continuing to operate during the COVID-19 pandemic are real estate investors—who provide upgraded housing options to the market for those looking to purchase a new or remodeled home. Hard money financing options have enabled fix and flip investors to maintain their business during these economically trying times, providing them with the needed funding to get their projects completed on time.
Understandably, there have been some hard money lenders who have chosen to reduce their operations or completely shutter their loan programs in light of the global health crisis—but many private lenders, including the team of experts here at Express Capital Financing. We have remained fully active and are here to support all of your business goals and needs as a real estate investor. As a collective industry, hard money lenders are experiencingchallenges associated with the widespread transition to a work-from-home economy. As an organization, Express Capital Financing has dedicated itself to becoming a leader in this important evolution. We have worked hard to streamline to the greatest extent possible each and every aspect of the loan application and approval process to ensure that funds are disbursed efficiently, and investors have the liquidity they need to complete important transactions.
It does not matter whether a fix and flip client needs fast closing, cash closing or flexible loan options on a renovation or new construction loan, hard money is still the ideal solution to access capital exponentially faster than conventional banks can process applications—which can take anywhere between 45 to 60 days. And because hard money loans are secured by the asset being purchased itself, a client’s credit history is not the sole determinant factor when it comes to getting your loan approved. Whereas traditional lenders are confined by layers of administrative and procedural red tape, Express Capital Financing can work with you on your next loan and can help you understand the hard money process through various tools provided to investors. On a frequent basis, Express Capital Financing provides educational webinars and blogs for the industry to learn and advance their understanding of hard money lending. When we work with a real estate investor, we are not just their hard money lender, we are also their partner and believe in growing together professionally.
Looking forward to 2021, real estate investors should share our optimism that real estate funding will be readily accessible. At Express Capital Financing, providing an unparalleled customer experience is and always will be our main priority. Notwithstanding the widespread impact of COVID-19, our lending capacity is as robust as ever and we do not anticipate any interruption in or lending initiatives. We can assist you in resolving some of the aforementioned changes that look to be coming to the hard money lending landscape so that you have the money you need when you need it in order to make the best real estate investments possible.