Condos are Risky

Condos come with a little bit of more risk and the reason for that is that they are tied to the other properties in the existing neighborhood because when you talk about a condo complex, every single unit is typically the same and there are two different variations or a maximum of three different variations. But the problem that you have is you cannot do anything to improve that property. Everything looks the same from the outside, the only thing you can do is interior but you are not going to get a ton of value when it comes to changing the interior unless you put gold-plated walls in. The problem that you have is if someone else lowers their price, it automatically affects your value because there are not enough differentiating facts.

Let me give you an example. In most neighborhoods, there are no two homes that are exactly identical and if somebody has a property for selling and they lower the price, someone else may not have to lower their price in order to sell their property because there are enough differentiating facts when it comes to the property itself. The floor plan is a little bit different because there are differentiating features when it comes to the property itself. But when you are talking about condos, there are no differentiating features other than the color of the paint or other than the carpet that is being put in or the color of the tile, which most buyers are not going to pay a lot of extra money unless it is a new bill to get some of those features. The only thing that you can do is compete on price. You have got more risk with condos because you are competing on price and anybody else that changes price in the neighborhood is going to have a direct impact. When you are selling condos, you need to be the cheapest condo out there, Period.

What the Customer Wants to Know

We are constantly updating our website. We go back and forth with our developers, arguing about what would be best for you to not only keep you interested but mostly to EDUCATE you. What better way to have you use hard money then to have you understand what it is we do exactly. So, here we go. Here are some of the common questions that I receive daily. This information is on our website, (Now you are probably thinking why would we repeat this information if it is already on their website??) however, I think perhaps, it just needs a better explanation or maybe just a different viewpoint.


One of the questions that I receive A LOT is what are our pre-qualifications for our loans. Well, you see, here is the great thing about DoHardMoney (because not all Hard Money Lenders do this). We are not a BANK. We aren’t CONVENTIONAL (**gasp**). We are not going to take the average 30-60 days to get you your loan. We get all of our money from Private Lenders. In fact, if you have your property under contract, and you can get all of you paperwork in check for us, we can get your loan turned around in 48 hours. So what do you have to do to get the loan?? Here it is:


1. We lend based primarily on the property, not YOU.

2. You have to have the property under contract. We can’t speak to you until you have that first.

3. Make sure it is in the States that we Serve. We list them all out on our website with the Counties underneath. We make no exceptions on this.

4. Make sure it is within our pricing, between $50,000 and $250,000. No exceptions.

5. No outstanding judgments, or bankruptcies within a year.

That’s about it. We have specific types of properties we won’t lend on, but basically what we DO lend on are Single Family Non-occupied Homes, Condos, Twin Homes, Town Homes and Lofts.

Again, we loan based on the property not you. So, we don’t need your taxes, we don’t need your proof of income, etc. Take a look at our Frequently Asked Questions, I think you will be pleasantly surprised.