Suppose that you've stumbled upon this excellent bargain for a fix and flip property in a great location, and you happen to be either a skilled real estate investor or a first-timer who really wants to try out flipping houses. Professional home flippers, such as the young couple on Flip or Flop, HGTV's reality flipping series, are capable of hauling in a gain of $40-$50k for the majority of homes. And without a doubt, they are helped in a big way due to their professional knowledge, auction expertise and understanding of hard money loans. However, you are certain that your impressive rehab and renovation talents will help you do a great job for this house — what's more, you have already arranged to have one of the best building contractors in the area to work on this project.

But how can you obtain the necessary capital for home flipping? A conventional lender, like for example a bank, takes at a minimum one to two months to approve the loan and hand over the monies. Since the majority of sellers favor a fast closing, it may be best to start seeking out additional financing alternatives.

As well as this, if you have a sub-optimal credit score or do not have a conventional income, it can be more challenging to be eligible for a a bank loan, seeing the stricter loan criteria banks have introduced lately. So must you stop trying and forego your ambition to venture into fix and flips? By no means, especially when 79978 hard money loans enable you to realize many amazing things in real estate.

If you should opt for a hard money home loan in 79978, you'll get what's perhaps most important to real estate transactions across the country — a very fast closing of around 2 weeks. Further, financing is made up to 70% loan-to-value of the "as is" value, as determined by a licensed appraiser. Some individuals believe hard money real estate loans to be higher priced than ordinary financing, because the lending rates for these loans usually start off at 10%. But the lengths of these loans tend to be much shorter, making the rate less significant. The cost of such short-term loans should be viewed on par with any other expense that you might encounter in the course of the project. And once you have sold the house, recuperating this expense is identical to recovering the expense for the bathroom updates you did.

Besides, hard money mortgages are easy qualifying, even when you posses very bad credit. 79978 hard money lenders don't authorize a loan exclusively based on the person's credit score — instead they will evaluate the property, its location and value, and the property's ability to pay back the loan by itself. On top of this, if the applicant have proven experience in equivalent real estate endeavors, can place down cash for the down payment, and the cost of equivalent houses in the vicinity works to his benefit, he stands a really good likelihood of qualifying to get a hard money real estate loan.

So in case you have stumbled on a really good real estate opportunity with a high probability of returns, you have also stumbled upon a hard money lender in 79978 who is willing to finance your flipping ventures. Enter your info into the form on this page or get in touch with us via phone and let's talk about your property.