There's this amazing opportunity to renovate and flip this nice outdated house in a fantastic location and it seems a lot like the deal you've been looking forward to for quite a while. You may have heard that professional house flippers, such as the husband and wife on HGTV's Flip or Flop, enjoy an impressive average profit of around $40,000 – $50,000. No need to explain that their past experiences rehabbing, understanding of hard money loans, familiarity with the market, and auction skills have played a significant part in their results. However, you are convinced that your superb rehab and remodeling knowledge will help you do a quality job on the house — what's more, you have already arranged to have one of the finest contractors in the area to handle the job.

But how exactly can real estate investors obtain capital? For those who opt for a traditional loan from the bank, you will have to wait somewhere around 1 to 2 months until the money is authorized and the funding is ready to go. Thus if you happen to be looking for a fast closing, it's important for you to understand that this will cost you a couple of weeks, making you lose out on the home.

With banks adding more challenging loan guidelines in recent times, it is more difficult for a self-employed individual to obtain a mortgage loan, especially if his credit circumstances are not perfect. So does that leave you with no option, but to give up your dream of venturing into rehabbing? Most certainly not, because you always have the 76908 hard money loan option.

A hard money home loan in 76908 offers what is regarded as imperative to many real estate sales — a very fast closing of just a couple of weeks and at many times less. And additionally, loans are made up to 70% loan-to-value of the as-is property's valuation, as calculated by a licensed appraiser. With the loan rates starting off around 10%, hard money real estate loans may appear, at first, to be more costly compared to traditional bank financing. But in reality, the interest rate is not as relevant for these loans, since they are not long-term loans. The price of such short-term loans ought to be looked at on par with any other expense that you will encounter during the project. Right after you remodel and sell the property, recuperating this expense is the same as recuperating the one for home appliances you placed into the place.

Moreover, even someone with bad credit can easily be eligible for a hard money mortgage. 76908 hard money lenders don't authorize a loan exclusively on the basis of the person's credit score — instead they also analyze the property or home, its location and value, and the property's ability to pay back the loan on its own. Adding to that, if the person have proven experience in similar real estate ventures, can place down money towards a down payment, and the value of similar houses in the area works to his benefit, he has got a really good chance of being eligible to obtain a hard money real estate loan.

If you happen to have stumbled upon a really good home to flip with a huge chance of returns, you have also stumbled upon a hard money lender in 76908 that's willing to provide financing for your fix and flip venture. Fill out the contact form on this page or call us to discuss your project.