When a great real estate deal comes along it is necessary to move fast. With current market conditions so competitive a real estate opportunity can be gone in a manner of days while borrower waits for bank loan approval. With Private Money lending available immediately that won’t happen as borrowers using private money can obtain loan in a few days and not miss out. Competitors will be scratching their heads wondering how it happened to be completed so quickly. Private Money lenders have $$$$ available well knowing borrowers will make substantially better returns using private money versus opportunity costs of not closing the deal.
By using CGF’s Private Money lending strategy the borrower’s application to funding turn-a-round will be quick and seamless, in-turn creating for a financially profitable great real estate investment.
CGF, Inc. PRIVATE & HARD MONEY FUNDING ADVANTAGES
SPEED FROM APPLICATION TO CLOSING
Borrower can receive a decision 1 to 3 days.
Provide funding -10 to 14 days.
FLEXIBILITY AND SIMPLE INTEREST
Real Estate is basis of our flexible lending decisions. Borrowers pay interest monthly to benefit cash flow.
CGF, Inc. SERVICES ALL LOANS
Real Estate- Tax Corner
Self employed business individual can deduct mortgage interest paid on unused realty. Individual purchased land with intent to build an office building. Individual borrowed money to finance purchase and paid interest on mortgage loan before construction began. Business started to have financial issues and individual had to abandon development plans. Interest expense was written off on individual’s Sch. C. 1040 tax business reporting schedule. IRS originally denied business interest deduction and called it investment or personal interest. Tax Court reversed IRS determination and allowed it as a business interest expense deduction saying it was properly allocable to individual’s trade or business (Pugh, TC Memo Op. 2019-2).