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Real Estate Investor Alex Noghreh Opens Hard Money Lending Shop

Monday, 08 October 2018 06:52 AM

Alex Noghreh

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Alex Noghreh is now providing hard money solutions to real estate investors in the New York area

GREAT NECK, NY / ACCESSWIRE / October 8, 2018 / Alex Noghreh, a real estate investor based in New York City, is pleased to announce that he has opened a hard money lending shop.

Since 2001 Alex Noghreh has been involved in the investment and development of over hundreds of projects in the New York City Boroughs and Long Island. Many of these projects involved him and his partners obtaining hard money loans to fund the acquisition and construction of each project.

To learn more about Alex Noghreh and his work, please visit www.alexnoghreh.com/.

Alex Noghreh, Monday, October 8, 2018, Press release picture

As Noghreh explained, a hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies.

Getting approved with a traditional lender is a painfully slow process. The application, paperwork, appraisal process and underwriting can take weeks and sometimes months to get approved, he noted.

Traditional hard money is generally more expensive then a loan from a bank. However, the speed the lender can get it approved and the money ready for closing is significantly faster. More importantly, the flexibility in the loan from a hard money lender compared to a traditional lender is day and night. Many properties purchased by investors to fix and flip have many title issues including but not limited to violations, liens, taxes and other issues which traditional lenders would not overlook.

"Hard money makes sense when you need a nontraditional loan on a property with enough room for profit which needs a quick approval and closing," Noghrehs said, adding that he is bringing to the market a program which is more flexible in terms of loan to value, construction valuation and terms.

Alex Noghreh is familiar with the values and prices of real estate in New York. If a deal is being purchased at below market value and there is significant upside after renovations, he is able to fund as much as 90% of acquisition and construction. Terms are generally 10% interest with little or no points on the acquisitions.

Every deal is considered on a case by case basis but with the influx of hard money lenders all over the country it's valuable to have a local lender who knows the market and understands that investors are able to purchase properties at a wholesale price because of the issues and concerns with these type of investments.

About Alex Noghreh:

Alex Noghreh was born Arash David Noghreh on May 4, 1975, in Tehran Iran to Khalil and Sorour Noghreh. In 1982, he moved to New York with his family. He's the youngest of 4 children. Alex grew up in Great Neck NY and moved to NYC shortly after graduating college in 1997. Alex has been married since June of 2009 and currently lives in Great Neck with two children. He's currently a member of Beth Hadassah Synagogue as well as Chabad of Great Neck. For more information, please visit http://www.alexnoghreh.com/.

Contact:

Alex Noghreh
[email protected]
516.287.9696

SOURCE: Alex Noghreh

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