Brittney Fairweather, Chief Business Development Officer at TRX Capital, discusses hard money lending, types of loans, ideal customers, and the real estate market. She explains the differences between hard money lending and traditional bank lending, the types of properties they invest in, and the various loans they specialize in. Brittney also shares insights on the due diligence process, equity requirements, interest rates, fees, and the ideal customer profile. She provides valuable advice for new investors and discusses the impact of the real estate market on their business. https://www.trxcapfund.com/
Takeaways
- Hard money lending is asset-based lending focused on investor transactions and offers more flexibility than traditional banks.
- TRX Capital specializes in various types of loans, including fix and flip, rental property, new construction, and long-term loans for residential purposes.
- The due diligence process involves appraisal, valuation, and understanding the borrower's experience, local resources, and project profitability.
- Ideal customers for TRX Capital are investors with reasonable credit, a history of paying mortgages, and some experience in real estate investing.
- The real estate market's cyclical nature requires investors to be creative and forward-thinking, especially in response to changes in interest rates and property values.
