Hard Money Go

About Hard Money Go

Hard Money Go is private lender based in Century City, CA. They provide funding throughout San Diego. They offer refinancing, fix and flip hard money loans, private commercial loans, long term rental property loans, and short term bridge loans. They offer rates ranging between 6% and 10%. They do not require borrowers to have a minimum FICO score to obtain a loan. They make loans on the following types of properties: single family units, multi family residences, apartment buildings, office units, retail storefronts, hotels and motels, storage buildings, senior communities, mixed use buildings, churches, warehouses, and industrial facilities.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Church, Warehouse, Industrial

Areas Served: San Diego, Orange County

Lending Guidelines for Hard Money Go

Below are the general loan guidelines published on the Hard Money Go website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Hard Money Go.

Loan Example 1

Minerva finds a townhouse in San Diego, CA to remodel and re-sell. Since she does not have enough cash available to purchase the $400,000 house outright, she takes out a hard money loan from Hard Money Go. Because the lender sets a 80% loan-to-value, Minerva will need to put 20% down and the principle amount of the note will be $320,000. The parameters of the loan dictate a 14% note for 12 months. They also stipulate a 2 point origination fee, that will also be paid upon closing.

On top of the $6,400 origination fee, Minerva will also fund $80,000 of the purchase with her own funds, or 20% of the purchase price. Once the deal closes, she will need to pay Hard Money Go $3,733 in monthly interest payments, or 14% multiplied times $320,000 divided by 12 months in a year. At the end of the loan, she sells the renovated house for $580,000. After subtracting the $44,800 in total interest payments ($3,733 multiplied times 12 months), the $6,400 origination fee, the $320,000 principle amount on the loan, and the $80,000 she brought to the closing, she will make a gross profit of $128,800 ($580,000 sales price minus $451,200 in total costs). This profit would then be reduced by any building costs paid by Minerva.

Loan Example 2

Shelby is a real estate investor in San Diego, CA. She buys a run-down townhouse for a remodeling project and takes out a fix and flip loan from Hard Money Go with the following features:

a) A $240,000 purchase price, b) a 65% loan-to-value (LTV), c) a 6 month term, d) a 11% interest rate, and e) a 5% origination fee.

After the rehab project is complete, if Shelby sells the house for $360,000, the numbers would be the following:

$360,000 sales price
- $156,000 note principle (65% LTV)
- $84,000 down payment (35% on 65% LTV)
- $7,800 origination points (5% of the $156,000 principle amount)
- $8,580 interest payments (6 months x 11% interest)
-----------------------
= $103,620 gross profit (doesn't include taxes or rehab costs)

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