Hard money loan

Funding? Yeah.

So I use Pinnacle a lot for hard money.

You're one of the Pinnacle boys? Yep.

Pinnacle boy, I guess.

And they all, you know, seem to be very happy.

Yeah.

And I will say, out of hard money, they are probably one of the most known.

Yeah.

All right.

So one of the things that I like a lot is hard money lending.

I'm a big fan of it.

It's private lending, which is basically like you are the bank.

We're going to give them the same protection as the local bank.

A private lender is not a hard money lender.

Hard money lender, they make the rules.

Hard money lender sets the interest rate.

They set the maximum that they're going to loan to you.

They set the length of the note.

And it's the same thing.

You could go beat the streets and go hit real groups like we did and meet real estate agents and mortgage brokers and other hard money lenders and create our email database.

And in essence, get business cards, put them in a database, do deals.

And then every few days, send them an email and do emails and emails and emails.

Please make sure to always check with your own legal, financial, and accounting professionals.

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And at this time, we're just doing standard lending, conventional, conforming, FHA, VA.

And then in 2017, as we got deeper into the space learning about finance, we started to add business loans and we started to add private and hard money bridge lending.

So we built out a whole second label in 2017 because we saw that the market was demanding this.

We saw the need for non-QM, for DSCR loans, for multifamily because conventional has a very limited scope and a lot of people don't fit that box.

But everywhere else we lend in.

Okay.

And you guys are hard money lenders as well for residential and, of course, bridge lending for the multifamily, correct? We are, yeah.

Hard money.

I actually finished my, my college and my master's in Florida.

And I actually started getting my first touch with, like, hard money or private lending back then, I'll say around 2014.

Okay, so right away.

Yeah, yeah.

I, I, I think the big balance sheet lenders in our market, uh, with all the institutional capital flowing in, we are way cheaper than them and faster, so they are just turning into CRE shops.

Five, seven years ago, RTL was not a thing.

It's, it was just hard money, right? In the Florida market, it was hard money lending.

You know? It do- it didn't matter what.