When you're thinking about getting a hard money loan, there are a few things you need to know. First, a hard money loan is a type of loan that's not typical of most banks or lending institutions.
This means that the interest rates are typically higher than traditional loans and the terms can be less flexible. Second, you'll likely need to have good credit and be able to document your income. Finally, it's important to know what makes a good candidate for a hard money loan. You can also look for hard money banker in San Diego.
Private lending is a popular way to raise capital, but it comes with its own tax implications. If you're considering private lending as a source of financing for your business, be sure to consult with your accountant to make sure you're taking the right steps to reduce your tax liability.
Private lending is a popular way to raise capital, but it comes with its own tax implications. If you're considering private lending as a source of financing for your business, be sure to consult with your accountant to make sure you're taking the right steps to reduce your tax liability. There are a few key points to keep in mind when contemplating private lending:
-You must treat the loan as if it's a debt incurred from a traditional lender. This means you'll need to include the interest and other fees associated with the loan in your taxable income.
-You may also be subject to estate taxes if you die while carrying the debt. Depending on the extent of your holdings and how much debt was incurred for personal purposes, Estate Tax could potentially wipe out many of your gains from an investment such as private lending.