Hard Money

A hard money loan is a type of financing where a borrower receives funds based upon the value of a specific parcel of commercial real estate, typically undeveloped or ‘raw’ land. As the premier hard money and raw land lender, here’s an illustration of how such a loan works.

Among those in the know, Laughlin, Nevada is seen as becoming as big a phenomenon as Las Vegas itself. It's only a matter of time -- and development. Which is why Vincent Hesser of OneCap Partners 2, LLC wished to purchase two prime future development parcels totaling 78.02 acres along the Colorado River there. The intention is to land bank the property and eventually sell to an interested developer. The land lies at the southern end of Laughlin's 'strip', where the majority of the casinos are located, including the famous Harrah's resort complex, the latest one to be built.

All in all, it was a good plan, with an eye towards the future. Now all Hesser needed was for someone to make him a loan, with the raw land as collateral. Unfortunately, no lender was willing to move within the time frame necessary to make the loan.

In a fortuitous stroke of luck, however, Hesser was introduced to Kennedy Funding. Kennedy welcomes raw land loans, as they are able to see the client's vision and its worth, and identify with it. As a result, Kennedy closed a $12 million loan with OneCap Partners 2 in just six days, and Vincent Hesser is now free to pursue his project.

Also See: Kennedy Hard Money Funding