Private & Hard Money Recourse Carveouts Specific carve-outs in non-recourse loans triggering personal liability.
Private & Hard Money Recourse Loan A loan where the borrower is personally liable beyond the collateral.
Private & Hard Money Soft Money Loan An asset-backed loan with terms between conventional and hard money.
Private & Hard Money Sponsor Equity The cash the borrower (sponsor) puts into a deal alongside private financing.
Private & Hard Money Take-Out Loan Permanent financing that replaces a short-term construction or bridge loan.
Property Management Capital Expenditure (CapEx) Major investments in a property such as a new roof, HVAC, or renovation.
Property Management Cure or Quit Notice A notice giving a tenant time to remedy a lease violation or vacate.
Property Management Eviction The legal process by which a landlord removes a tenant who has violated the lease.
Property Management Habitable Standards Minimum legal requirements for a rental’s safety and livability.
Property Management Implied Warranty of Habitability The legal doctrine that landlords must keep rentals safe and livable.
Private & Hard Money Equity Cushion The owner’s existing equity providing extra security to a private lender.
