A remarkable buy on a fix and flip opportunity located in a nice area of the city shows up out of the blue — sounds too good to be true. Professional residential home flippers, much like the young married couple on Flip or Flop, HGTV's reality flipping program, are able to generate a gain of forty to fifty grand for the majority of homes. It's fair to say their rehabbing experience, knowledge of hard money loans, familiarity with the market, and auction talents have been large factors to their successes. However, you are convinced that your first class rehab and remodeling skills can help you do a quality job on the home — additionally, you already have arranged to have one of the most recommended contractors in the business to handle the project.

But where precisely can real estate investors find funds? A traditional lender, for instance a bank, takes at a minimum one to two months to consent to the financing and provide the cash. So if you will be looking for a fast closing, it's important to understand that this will cost you a couple weeks, making you miss out on the sale.

Moreover, in case you have an unfavorable credit rating or do not have a conventional source of income, it is normally more challenging for you to be eligible for a bank loan, seeing the more stringent loan guidelines banks have put in place lately. So does that leave you with no option, but to give up your aspiration of venturing into home flipping? By no means, considering that you can always go the 75143 hard money loan route to finance your flipping project.

A hard money home loan in 75143 provides what's perhaps most sought after by real estate investors — a very fast closing time of as little as two weeks. Furthermore, hard money lenders frequently agree to loans up to 70% LTV of the property or home's valuation, as determined by a credentialed third-party evaluation. With the rates starting near 10%, hard money real estate loans may seem, at first, to be more costly in comparison with traditional bank financing. But the time frames of these loans tend to be comparatively shorter, which means the rate is much less significant. When it comes to short-term loans of a few years or less, you should think about them similar to every other expense for the project. After you renovate and sell off the property, recouping this expense is no different than recovering the money you spent for new kitchen appliances you installed in the place.

In addition, even an individual with weak credit can easily be eligible for a hard money mortgage. The person's credit score will not be the primary deciding factor for 75143 hard money lenders — they also consider the property, how much it is worth, where it is located, and its potential to return their investment if things should not go as planned. How much an applicant can put down beforehand for the house, how much experience he has in real estate investing, and price range of comparative properties in the vicinity are various other details that go into determining an applicant's qualification for a hard money real estate loan.

Finding a hard money lender in 75143 to fund your fix and flip endeavor is not difficult, assuming that the opportunity that lies before you is promising and offers a strong potential for returns. Complete the form on this page or give us a call and let's discuss the property or properties you have in mind.