Useful Information when Funding Projects

There may be real estate developers who believe that if they don't have enough money to complete a project, they should still start a rehab project anyway. It may not be the most opportune solution. It's risky to start a project and have it completed if there aren’t sufficient funds available to cover the project entirety or unforeseen scenarios.

Fort Lauderdale, FL -- (SBWIRE) -- 03/10/2021 -- When a project starts with relatively little funding, pursuing several loans may be seen as an option. A person's financial situation may easily deteriorate. Consider taking out a loan for more than what's needed. A first loan is much more straightforward to obtain than a second loan. Certain hard money lenders may be less likely to lend if a first loan was already applied for.

A negative impression may be attached to a project where funding went dry, possibly limiting selling chances once it's ready for prospective buyers. A hard money lender may also view it as a negative asset, possibly reducing the odds of receiving approval for a future loan.

About Monroe Funding Corporation
Monroe Funding Corporation is a direct equity lender serving clients throughout Central and South Florida, specializing in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get clients to the closing table quickly and professionally. For more information on hard money lending in Naples, please call 954-816-0388 or fill out the application.

For more information on this press release visit: http://www.sbwire.com/press-releases/useful-information-when-funding-projects-1330862.htm