There is this outstanding opportunity to fix and flip this wonderful old house in a fantastic area and it seems a lot like the deal you've been expecting for quite a while. You've heard that competent property flippers, like the married couple on HGTV's Flip or Flop, turn a remarkable average return close to forty to fifty thousand dollars. Undoubtedly, you also recognize that their great results are credited to the fact that they are industry experts, are knowledgeable in hard money loans, they know the marketplace quite well and furthermore, they know how to work a public auction for getting a good deal. That said, you have also been brushing up your rehab and remodeling knowledge, have a very good licensed contractor ready for the project and are positive that you're capable of doing a great job on this property.

But where can you find the needed capital for home flipping? For those who get in touch with a regular lending institution, like a bank for financing, it can take, as a minimum, 30-60 days for your approval to be completed and your funds to be given out. Given that sellers wish to have a fast closing, you might want to begin looking for other funding options.

On top of this, banks have been tightening their lending standards in recent times, which makes it tough for someone to get a typical home loan if their credit score is not flawless or he does not possess a regular salaried occupation. So will a lack of financing keep you from sticking with your dream? Certainly not, due to the fact you could always go the Boston hard money loan route to pay for your rehab project.

A hard money home loan in Boston promises what is probably most essential to real estate investors — a very fast closing in as few as two weeks. Further, loans can be made up to 70% loan-to-value of the as-is property value, as determined by a qualified appraiser. On the surface, hard money real estate loans, with starting interest rates of 10%, seem to be higher in price than bank financing. But in reality, the interest rate isn't as useful a measure for these loans, since they are not long-term financing. The price of such short-term loans ought to be viewed much like any other financial outlay that you would have to meet pertaining to the project. After you renovate and sell off the house, recuperating this expense is the same as recuperating the one for home appliances you installed in the property.

Besides, hard money mortgages are not hard to qualify for, regardless if you have bad credit. Boston hard money lenders don't authorize a loan solely according to the applicant's credit score — instead they also examine the property, where it is located and what it is worth, and the property's capability to pay back the financing without the assistance of the borrower. Adding to that, if the individual have proven experience in similar real estate projects, can place down cash for a down payment, and the price of comparative properties in the area works to his benefit, he stands an excellent likelihood of being eligible to obtain a hard money real estate loan.

So should you come across a really good and worthwhile investment opportunity, be assured you'll have a hard money lender in Boston, prepared to loan you the funds you need. Complete the form or give us a call to talk about the project you have in mind.