There is this outstanding possibility for rehabbing and flipping this nice old property or home in a very good location and it seems a lot like the one you've been looking forward to for quite some time. Professional residential home flippers, much like the young couple on Flip or Flop, HGTV's reality flipping series, are able to generate a gain of forty to fifty grand on a consistent basis. And sure, they are helped in a big way as a result of their professional know-how, auction expertise and familiarity with hard money loans. Still, your rehab and remodeling skills aren't that bad either — in any case, you've already located the right licensed contractor to take on the project.

But where do real estate investors get capital? Should you opt for a traditional bank loan, you will end up waiting around somewhere around 4-8 weeks until the money is authorized and your funding is available. Considering that all the sellers are looking for a fast closing, that doesn't seem like a great idea to you whatsoever.

As well as this, if you have an unfavorable credit situation or do not have a regular source of income, it is usually tougher for you to obtain bank financing, seeing the tougher loan requirements banks have put in place recently. So will a lack of funding prevent you from sticking to your ambitions? Not at all, particularly while Menands hard money loans enable you to accomplish many amazing things in real estate.

A hard money home loan in Menands boasts what is possibly most essential to real estate investors — a fast closing time of as little as 14 days. What's more, the LTV value can reach up to 70% of the home value, as determined by a competent appraiser. On the surface, hard money real estate loans, with starting lending rates of 10%, seem to be higher in price than bank loans. But when you appreciate that these loans are not long-term home loans, the interest rate can be misleading. As it pertains to short-term loans of a few years or less, you should look at them identical to any other expenditure for your project. And when you've sold the home, recouping this expense is comparable to recouping the expense for the bathroom or other upgrades you performed.

In addition, even someone with low credit can easily be eligible for a hard money mortgage. The borrower's credit score isn't the sole deciding factor for Menands hard money lenders — they also analyze the house, its market valuation, its location, and its ability to return their financial commitment if things do not work out as planned. Adding to that, if the applicant can demonstrate past experience in similar real estate endeavors, can put down money towards a down payment, and the value of comparable houses in the vicinity works to his benefit, he will have an excellent shot of qualifying to get a hard money real estate loan.

So should you run into an outstanding and worthwhile investment opportunity, relax knowing you will have a hard money lender in Menands, ready to loan you the money you'll need. Complete the form or get in touch with us via phone to discuss the property or properties you have in mind.