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New Silver Reviews: Best Hard Money Lenders for Real Estate Investors

September 18, 2024
Esteban Andrade
.
6 min

Are you tired of the constant struggle to find the right marketing strategies that will bring in qualified leads for your pool or hardscape business? Ever wondered how your top competitors effortlessly generate hundreds of qualified leads? Well, the wait is over – today, we're handing you the exact blueprint to help you discover the most effective marketing channels that will position your business as the go-to choice in your local area.

The Blueprint Unveiled

Everything you need to transform your marketing game is encapsulated in this video, and to stay updated with industry tips, hit subscribe now! We're about to reveal the secrets that have propelled successful contractors to build eight-figure businesses and master the art of getting attention on social media.

Social Media: Your Gateway to Inbound Leads

Every thriving contractor understands the power of social media in today's digital landscape. Discover how to generate inbound leads on autopilot without breaking the bank on expensive marketing lead generation services. All it takes is a quick 30-second to a 1-minute video posted on platforms like TikTok, Instagram, or YouTube. This cost-effective strategy will make you the go-to contractor in your area, and the best part is – you don't need to be a video pro! Consistency and authenticity are the keys to success.

Are you tired of the constant struggle to find the right marketing strategies that will bring in qualified leads for your pool or hardscape business? Ever wondered how your top competitors effortlessly generate hundreds of qualified leads? Well, the wait is over – today, we're handing you the exact blueprint to help you discover the most effective marketing channels that will position your business as the go-to choice in your local area.

The Blueprint Unveiled

Everything you need to transform your marketing game is encapsulated in this video, and to stay updated with industry tips, hit subscribe now! We're about to reveal the secrets that have propelled successful contractors to build eight-figure businesses and master the art of getting attention on social media.

Social Media: Your Gateway to Inbound Leads

Every thriving contractor understands the power of social media in today's digital landscape. Discover how to generate inbound leads on autopilot without breaking the bank on expensive marketing lead generation services. All it takes is a quick 30-second to a 1-minute video posted on platforms like TikTok, Instagram, or YouTube. This cost-effective strategy will make you the go-to contractor in your area, and the best part is – you don't need to be a video pro! Consistency and authenticity are the keys to success.

Are you tired of the constant struggle to find the right marketing strategies that will bring in qualified leads for your pool or hardscape business? Ever wondered how your top competitors effortlessly generate hundreds of qualified leads? Well, the wait is over – today, we're handing you the exact blueprint to help you discover the most effective marketing channels that will position your business as the go-to choice in your local area.

The Blueprint Unveiled

Everything you need to transform your marketing game is encapsulated in this video, and to stay updated with industry tips, hit subscribe now! We're about to reveal the secrets that have propelled successful contractors to build eight-figure businesses and master the art of getting attention on social media.

Social Media: Your Gateway to Inbound Leads

Every thriving contractor understands the power of social media in today's digital landscape. Discover how to generate inbound leads on autopilot without breaking the bank on expensive marketing lead generation services. All it takes is a quick 30-second to a 1-minute video posted on platforms like TikTok, Instagram, or YouTube. This cost-effective strategy will make you the go-to contractor in your area, and the best part is – you don't need to be a video pro! Consistency and authenticity are the keys to success.

New Silver Reviews: Best Hard Money Lenders for Real Estate Investors

Esteban Andrade
September 18, 2024
6 min

New Silver Reviews: Who Are The Best Hard Money Lenders?

For newbie real estate investors who haven’t yet built enough capital to purchase properties outright, finding the best hard money lender is crucial. Not only will a great lender help secure your deals, but they’ll also play a significant role in determining how much profit you can make when the project closes.

New Silver is a highly-rated hard money lender that’s quickly gaining popularity among real estate investors. With a 4.6-star rating on TrustPilot and praise from countless investors, New Silver might be the perfect solution for your real estate investing needs. Let’s dive into this review to help you determine if New Silver is the right hard money lender for your next deal.

What Is New Silver for Real Estate Investors?

Founded in 2018 by Kirill Bensonoff and Alex Shvayetsky, New Silver is a fintech company that provides a range of hard money loan products to help real estate investors finance their deals. Their mission is to improve local communities by funding projects that revitalize neighborhoods. With their innovative technology, New Silver offers fast approvals, instant term sheets, and proof of funds letters—key features for investors looking to move quickly in a competitive market.

Whether you're flipping homes or building a rental portfolio, New Silver provides flexible loan options, competitive rates, and an easy online application process. Real estate investors have raved about their experience, often citing the platform's speed, ease of use, and excellent customer service.

New Silver Loan Products and Features

New Silver offers a variety of loan products designed to meet the needs of different types of real estate investors. Let’s break down the most popular loan options and features.

1. Fix and Flip Loans

New Silver’s fix and flip loan is designed for investors who purchase, rehab, and sell properties. You can borrow between $100,000 and $5,000,000, with interest rates ranging from 10% to 12.75% for a 24-month term. The types of properties covered include single-family homes, townhomes, and condos. The origination fee is 1.875%.

2. Rent Loans

If you’re building a rental portfolio, New Silver offers a 30-year fixed-rate loan with interest rates starting at 7.5%. You can borrow between $100,000 and $2,000,000 for residential or short-term rental properties, with an origination fee of 2-3%.

3. Ground-Up Construction Loans

Designed for builders and developers, the ground-up loan covers construction projects for townhomes, condos, and single-family homes. The loan amounts range from $100,000 to $5,000,000, with interest rates between 10% and 13.25%. The loan term is 24 months with a 1.75% origination fee.

4. Personal Loans

For smaller-scale needs, New Silver offers personal loans up to $100,000 with flexible terms. These unsecured loans are ideal for quick cash flow and are approved within 48 hours—perfect if you’re dealing with a temporary capital crunch.

Key Features for Real Estate Investors

What sets New Silver apart from other hard money lenders? Let’s explore some of the standout features that make New Silver a top choice for many investors.

Fast Approval Process

New Silver’s lightning-fast approval process is one of its biggest selling points. You can receive loan approval online in as little as 5 minutes without a hard credit pull. This speed allows you to make offers quickly, an essential advantage in competitive real estate markets.

Instant Term Sheets and Proof of Funds

After approval, you’ll receive an instant term sheet and proof of funds letter. This is a massive benefit for investors who need to show financial credibility when making offers on properties.

FlipScout Tool

New Silver offers a free tool called FlipScout, which helps you find the most profitable fix-and-flip or rental properties in your target area. FlipScout analyzes potential deals, estimates rehab costs, and calculates your return on investment (ROI). It’s a game-changer for investors looking to streamline their property search.

Discounts for Repeat Clients

New Silver rewards loyalty with discounts on interest rates and fees for repeat clients. If you’ve successfully closed a deal with them before, you’re eligible for these discounts on future loans.

Technology-Driven Platform

New Silver uses the latest technology and data analytics to speed up the loan application and underwriting process. This tech-forward approach helps them deliver fast, efficient service without compromising on quality.

Free Calculators

New Silver offers a variety of free calculators to help you plan your investment strategy:

  • Hard Money Loan Calculator
  • Rental Calculator
  • Cap Rate Calculator
  • ARV (After Repair Value) Calculator
  • BRRRR (Buy, Rehab, Rent, Refinance, Repeat) Calculator

These tools are invaluable for both new and experienced investors as they help assess potential returns and risks before committing to a deal.

New Silver Pros and Cons

While New Silver offers several advantages, it’s not for everyone. Here’s a quick look at the pros and cons.

Pros:

  • Quick loan approvals and fast closing.
  • Instant term sheets and proof of funds letters.
  • Discounts for repeat clients.
  • Multiple loan options for fix-and-flip, rental, and ground-up construction.
  • Free tools like FlipScout and financial calculators to aid in decision-making.
  • Entire loan process can be completed online.

Cons:

  • Relatively short track record compared to other long-established hard money lenders.
  • Limited customer support hours (Monday–Friday, 9 am to 5 pm).

How To Use New Silver

Getting started with New Silver is simple. Here’s a step-by-step guide:

  1. Create a Free Account: Visit New Silver’s website and sign up for a free account.
  2. Choose Your Loan Type: Select from their four loan products: fix-and-flip, rent, ground-up construction, or personal loan.
  3. Submit Your Application: Input property information, personal details, and select your loan terms.
  4. Get Approved: Receive approval in as fast as 5 minutes. Once approved, you’ll get instant access to your term sheet and proof of funds.
  5. Close the Deal: With financing secured, you can confidently move forward with your investment.

New Silver Alternatives

If New Silver isn’t the right fit for your real estate investing needs, here are a few alternatives:

  • Kiavi: A large hard money lender that offers fix-and-flip, DSCR, and bridge loans with a 95% successful exit rate.
  • RCN Capital: A direct private lender offering flexible short- and long-term financing solutions.
  • CoreVest: Specializes in large loan amounts, offering up to $100 million in funding.
  • DoHardMoney: Offers 100% financing options for qualified investors with fast approvals.
  • Residential Capital Partners: Provides 100% financing with no money down for fix-and-flip and rental properties.

Summary: Is New Silver Worth the Investment?

New Silver is an excellent choice for both new and seasoned real estate investors looking for fast, efficient financing. With multiple loan options, instant approvals, and technology-driven processes, they make securing funding for your next project a breeze. If you're searching for a reliable hard money lender to fund your real estate deals, New Silver is definitely worth considering.

And once you’ve secured financing, don’t forget to focus on finding the best investment properties using tools like FlipScout or other real estate lead-generating platforms. Happy investing!

If you'd like to boost your lead generation and only attract dream clients, click here to know more.

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Hesel Media
September 18, 2024
6 min