Resolving Tax Problems with Private Money Loans

Solutions for IRS Debt

Is Uncle Sam hitting you or your clients hard this year with no mercy? When requests for payment plans are denied by the IRS, many CPAs can be left scrambling to find fast money options for their clients. If the IRS comes knocking, and you own real estate with equity, a fast money solution could be a bridge loan from a non-bank lender.

Hard money loans, also called bridge loans, are short-term loans for durations of 1-3 years. Hard money loans are called such because they are loans against hard assets like real estate assets. These non-bank loans, which serve to provide cash out against real estate owned, can be a viable solution for your tax woes this year.

An exit strategy for a bridge loan could be a bank refinance, the sale of real estate owned, or a private equity buyout of the debt. Tax burdens can be arduous and can take a lot of time and resources away from your ability to produce. A hard money bridge loan may be a fast resolution to your tax liabilities this year.

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3 Reasons Hard Money Loans Close Deals Faster

Get a Strategic Advantage with Real Estate Deals


There are several reasons why hard money loans close faster than bank loans. Depending on the reason you need a hard money loan, there are various options and funding timeframes. For the reasons outlined below, this is as it pertains to investment property purchases or refinances.

Focus is on Collateral: Hard money loans are called such because the collateral used for a hard money loan is a “hard asset,” usually real estate. Because hard money lenders are more concentrated on the value of the collateral, versus the financials of the borrower, these loans can usually fund once property value is determined.

Less Paperwork: Because some hard money lenders don’t have to verify income or credit of a borrower in order to approve a loan, there is a lot less paperwork involved in a hard money loan. For this reason, a hard money loan can close faster than a bank loan.

Shorter Approval Process: These days, banks are really taking a long time to underwrite loans, particularly on investment properties. If a real estate investor wants to take advantage of a great opportunity and move quickly, a bank can’t be forced to move quickly. In some cases if you need a fast loan approval, a hard money loan is the only route to take.

Call us today at California Private Money Lenders to see how we can help you close a great real estate investment deal quicker. You may also fill out our online borrower’s form and one of private money specialists will be back in touch with you promptly.

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