A fabulous deal on a fix and flip property in a good neighborhood all of a sudden shows up — seems too good to be true. You may have heard that competent property flippers, similar to the married couple on HGTV's Flip or Flop, enjoy an impressive average profit margin of around forty to fifty thousand dollars. Undoubtedly, you also are aware that their results are due to the simple fact that they're professionals, are knowledgeable in hard money loans, they know the marketplace really well and furthermore, they are good at working a public auction to buy their houses at a reasonable price. With that being said, you have also been cultivating your rehab and remodeling skills, have a very good licensed contractor lined up and are positive that you can do a stellar job for this home.

But financing is a separate issue altogether. A standard lending institution, for instance a bank, takes no less than 1-2 months to consent to the financing and provide the funds. Considering that the sellers are seeking a fast closing, that doesn't seem like a good option to you whatsoever.

Moreover, should you have an unfavorable credit rating or don't receive a consistent source of income, it may be more challenging to be eligible for a bank financing, seeing the tougher loan criteria banks have issued recently. So do you have to stop trying and forego your aspiration to embark into fix and flips? Not at all, especially when White Oak hard money loans can help you achieve great things in real estate.

A hard money home loan in White Oak gives you what's perhaps most essential to real estate investors — a quick closing time period of as little as a few weeks. What's more, the LTV value can range up to 70% of the property value, as determined by a competent appraiser. With rates starting around 10%, hard money real estate loans might seem, initially, to be higher priced compared to conventional bank loans. But the term lengths for these loans are relatively short, which makes the rate much less important. When it comes to short-term loans of several years or even less, you should consider them identical to every other expenditure for your project. Right after you fix up and resell the house, recovering this expense is no different than recovering the expense for home appliances you put in the house.

Besides, hard money mortgages are easy qualifying, regardless if you have got a bad credit score. White Oak hard money lenders do not authorize a loan strictly judging by the borrower's credit score — rather they will examine the home, its value and location, and the property's ability to pay back the financing without the assistance of the borrower. Adding to that, if the borrower have proven experience in equivalent real estate endeavors, can put down money towards the down payment, and the cost of comparable houses in the vicinity works to his benefit, he has got an excellent likelihood of being approved for a hard money real estate loan.

So any time you come across a good and profitable flipping opportunity, be assured you will have a hard money lender in White Oak, willing to lend you the funds you will need. Fill out the form on this page or call us and let's talk about the property you have in mind.