A hard money loan is one option for funding your Las Vegas real estate investment. If you're having trouble knowing where to start your search for a reputable hard money lender in Las Vegas, this information is for you. Here are the five best hard money lenders in Las Vegas.
Investing in real estate can be profitable, especially if you know what you're doing. But real estate investing is also one of the riskiest types of investment.
Because of the inherent risk in real estate investing, it's critical to utilize the appropriate type of funding. It's equally important to find a lender that you trust and that you know will deliver when you need them to.
Maybe you're house flipping for the first time or maybe you're a seasoned investor. Either way, you can't overlook the importance of making sound financial decisions when funding your investment.
While home equity lines of credit (HELOCs) and home equity loans (HELs) are popular options, some investors prefer to obtain hard money loans instead.
Hard money loans aren't evaluated based on your FICO score or creditworthiness, like a traditional loan, nor are they based on the equity in your current home, like an HEL or HELOC. Rather, hard money lenders use the after repair value (ARV) of the property you're investing in to make lending decisions.
Another distinction between traditional loans and hard money loans is that hard money loans are funded by private investors instead of banks or credit unions.
Finding a reputable hard money lender you can trust isn't easy, but if you're looking to fund a real estate investment in Las Vegas, you have several options.
Here are five of the best hard money lenders in Las Vegas.
Work with a Clever Partner Agent to find a great hard money lender.
ARCH Bridge Loans
ARCH Bridge Loans might only be six years old, but they've already established a solid reputation for being trustworthy, honest, and experts in their field. They have already underwritten over $2 billion in residential and commercial loans in California alone and have repeated similar success in other areas, including Nevada.
ARCH offers loan terms ranging from one month to a year and loan amounts ranging from $25,000 to $2,000,000 in both the residential and commercial space.
They have multiple five-star reviews, but although most customers seem very happy with the quality of their service and the customer experience overall, the most common complaint pertains to their high interest rates, which range from 10% to 15%.
Carlyle Capital
Carlyle Capital is 19 years old and has developed an overwhelming presence in the hard money lending industry. They work in every state except for four (Alaska, North and South Dakota, and Vermont), and they have an excellent reputation.
They offer loan terms ranging from one year to five years and interest rates starting at 7.99% and ranging up to 12.99%.
One of the distinguishing characteristics of Carlyle Capital is their ability to lend large amounts of money. Where many other companies only lend up to about $5,000,000, Carlyle Capital offers loans ranging from $500,000 to $25,000,000.
Carlyle works in both the residential and commercial space and will work with a variety of occupancy situations, as well.
Their reviews are consistently high. Across all the major review platforms they have almost exclusively five star reviews. Customers appreciate their speed, expertise, and customer service, as well as their honesty and transparency.
Wilshire Quinn Capital, Inc.
Wilshire Quinn Capital, Inc. is another long-standing giant in the hard money lending industry. They've been in business for 15 years, and their customers routinely praise their quality of service.
Of their 39 Google reviews, all are five-star praises of Wilshire Quinn's competitive pricing, consistency in achieving their projections, honesty and transparency, customer service, and personalized attention.
Wilshire Quinn Capital offers loan terms ranging from three months to two years with interest rates between 9% and 12%. They'll lend anywhere from $200,000 up to $10,000,000 and are active in both the residential and commercial space.
Lantzman Lending
Lantzman Lending offers relatively niche services given that they only work in three states (Texas, California, and Nevada). They've been in business for 11 years, and they have incredible reviews from customers who talk about their customer service, efficiency, and honesty above all else.
Lantzman offers loan terms ranging from six months to two years at rates between 8.5% and 11.99%. They'll lend anywhere from $50,000 to $3,000,000, and they work with both residential and commercial transactions.
They're an established company that has a great reputation and is a solid option for those who are able to work within their loan terms and lending parameters.
Alta Capital Group
Alta Capital Group has a presence in 14 states and has been in business for a decade. Alta Capital Group provides options for those whose investments go beyond the limits of other companies.
Specifically, they offer loan terms ranging from six months to 30 years with amounts as small as $100,000 and as high as $30,000,000. What's more, their interest rates are very competitive, as well, falling between 6.99% and 12%.
They'll work with both commercial and residential transactions, and they're flexible when it comes to occupancy.
Next Steps
When considering a hard money loan, it's important to discuss your options with a Las Vegas real estate agent. Only an agent with local experience can give you the best advice regarding both the type of funding that's best for you and the lenders that might be the best fit for your specific needs.
A local agent can help you find great investment opportunities, evaluate your financing options in an objective way, find additional cost savings opportunities you may have missed, and help you make the best choices at every stage of the process.
Clever Partner Agents are all top performers in their local markets, have expertise related to investing and lending options, and work for a flat fee so when it comes time to buy or sell you'll have an expert helping you make the best choices and get the best results.
Contact Clever today and we'll put you in touch with a Las Vegas Partner Agent for a no-obligation consultation.