What is the difference between a residential and a commercial property?

Well, a simple answer would be residential is used for owner occupancy; the owner lives in the property. A commercial property is usually used for a business. But these days with so many live work lofts in financial districts and people wanting to zone their properties for commercial or mixed use, we will also add...

Why are hard money loans and personal loans’ interest so high?

Both loans are higher in interest and have shorter loan terms than most conventional loans. The interest can range from 7%-12% depending on the loan term and amount. The is because hard money loans and personal loans are higher risks. These loans are higher risks because of the way they are structured. Hard money loan...

Whats the difference between a hard money loan and a personal loan?

Any loan whether hard money or not is a secured loan. If you do not pay it the property’s mortgage the bank will use the property as collateral and the bank will take possession. A personal loan which is based on the earned income of a person and a credit score of 620-650 is unsecured...

What credit score do I need to qualify for a hard money loan?

Many of the loan programs available to City Investments require a credit score between 620-up. However, when investing and using hard money loans, not all loans are only based on credit. Many of our programs are based on the ARV, After Retail Value. This means the value of the property once all the repairs are...

Do I need to do a final walk-through?

As a buyer, you have the option to perform a final walk-through. Is a final walk through a requirement? NO. Is a final walk through necessary? YES. Generally when buying a home several weeks go by between when you last walked through your home. Lots of things can change during that time. When doing a...

How many homes should I look at before putting in a purchase offer?

This question is often asked and is a simple answer. The answer is, there is no specific number of homes you should look at before buying a home. Don’t feel that if you were to purchase the first home you look at that you’re making a mistake. Same can be said if it takes you...

I own a home, should I buy another before selling my current home?

The biggest benefit to buying a home before selling your current home is the fact that you have a suitable property lined up. This can reduce the stress and pressure of having to find a home once your current home is sold. This however also can create disappointment and heartbreak. If you are unable to...

Should I buy or continue to rent?

Buying a home can be a very solid investment. This being said, renting can also be a better option for some, depending on the circumstances. The current interest rates are incredible. A 30-year FHA mortgage can be locked in at a rate of around 3.5%. Since the interest rates are so low, it actually can...