Convenience – Borrowers using a CGF Hard money loan can obtain funding in a matter of 10 to 14 days. That’s important when funding a project with a structured timeline to completion. Quick funding makes for sooner project cash flow, meeting deadlines, and potentially higher Profits.
Flexible Terms – Hard money loans offered by CGF lends to borrower/investor having more room for negotiations of loan terms. Tailoring a repayment schedule can assist to reduce or eliminate certain fees such as origination, appraisal, and credit reports. When loan terms can be flexible before, during and upon project completion borrowers can increase Profit.
Collateral – Property itself serves as collateral when borrowing. We at CGF look at property’s final estimated LTV’s, borrower’s budget, and project’s exit strategy. These guidelines are a win for the property’s project, and to borrower/investor Profitability.
Income Tax Corner
100% Deduction for Business restaurant meals – 2021 New stimulus law provides for a 100% business meals write-off. This applies to Food & Beverages purchased at a restaurant for takeout or dining in at establishments. Client meals and meals on travel are included. Taxpayer or employee must attend meal, and cost cannot be lavish or extravagant.
Charitable scheme backfires – Couple bought 3,400 eyeglass frames for $50,000 and were told if they held them for at least a year then donate to a charity they could claim a charitable write-off at a so-called appraised market value of $225,000. The couple did this and IRS elected to audit their tax return. Tax Court said appraisal did not strictly comply with regulations and disallowed their charitable deduction. (Campbell, TC Memo 2020-41).
www. cgf-inc.com – phone – Ken – 458-209-1484 or email email@example.com
Corporate NMLS – 1913112 MLO – NMLS -1913394
CGF can beat other Private money lender rates – Inquire to compare.