Austin, TX (PRWEB) June 30, 2013
Texas hard money lender Pride of Austin Capital Partners debuted a new website this month specifically designed to provide a user friendly way to apply for construction loans online to real estate investors looking for fund their Texas construction projects.
In early June, Pride of Austin’s new site TexasConstructionLending.com went live and it is already receiving loan submissions from Texas real estate investors who seek asset-based loans to finance their commercial construction, commercial rehab, land or lot development, or equity cash out projects.
“We put a lot of thought into marketing, and we’re always thinking of ways to improve our clients’ experience with us as their lender,” said David Owen, co-Managing Member of Pride of Austin Capital Partners. “We understand real estate investors need to be able to fund their projects as quickly as possible when they find a deal. Texas Construction Lending .com is the fastest, most convenient, and the most user friendly way for them to access a private lender and hard money loan.”
Pride of Austin Capital Partners has been a leader in the Texas Private Lender sector for half a decade now. Owen manages the fund alongside co-Managing Member Robert Buchanan.
“There are several points that separate Pride of Austin from the average hard money lender in Texas,” Buchanan said. “This new site is a good example of one of those points – we are innovative. We always focus on how we can improve the services we provide, whether it be to our hard money borrowers, or to our family of investors who have entrusted their hard earned money to us to manage.”
Buchanan said another point that distinguishes Pride of Austin Capital Partners from other direct lenders is the fact that it is a fund.
“We are set up as a Regulation D Rule 506 Mortgage Pool Security and we are filed with the SEC and all 50 states,” he said. “What that means for our investors is, their risk is not tied into a single property, but rather it is diversified evenly across all of the assets in our portfolio. So if one of our loans were to ever stop performing, they are not at risk of losing all, or even most of their investment.”
Pride of Austin Capital Partners has approximately $25 million in assets under management at present. Its new site TexasConstructionLending.com gives borrowers and investors a clear explanation of the types of assets the fund lends to, which include non-owner occupied residential rehabs, as well as multi-million dollar commercial construction projects, rehab projects, acquisitions, and equity cash outs.
“All of our loans are asset-based, so if borrowers have a strong investment opportunity, it is possible for them to get 100 percent loan-t- cost financing from us to do their project,” Owen said. “Texas Construction Lending.com will allow them to get that project in front of us faster and in the right format, so that we can close their deal and they can maximize their profits.”
As traditional financing for commercial construction remains hard to come by, Owen said Texas Construction Lending .com offers a way for investors and businesses to obtain the bridge loan they need to complete their commercial construction projects.
“Regulators are very strict now about the types of loans banks are allowed to take into their portfolios. This new scrutiny has made it very difficult for even good borrowers to get financing for construction,” Owen said. “But now, by submitting construction projects through Texas Construction Lending .com, borrowers can get funding for their construction phase, and once construction is complete, it is much easier for them to refinance out of their bridge loan to a traditional loan for the long-term.”
Pride of Austin Capital Partners, LLC manages a fund filed with the Securities and Exchange Commission under Regulation D Rule 506 as well as with the appropriate departments of any State in which resides an investor in the fund. Pride of Austin is also a direct hard money lender for commercial and residential properties for real estate property and borrowers who do not meet the stringent requirements of conventional underwriting guidelines.
Fore more information about Pride of Austin or the fund, please visit http://www.prideofaustin.com.