Hard Money Loans in 76135

Suppose you've stumbled upon this excellent deal for a fix and flip property you found in a great location, and you are either an experienced real estate investor or a first-timer who really wants to try his hand at flipping. You've probably heard that veteran house flippers, like the couple on HGTV's Flip or Flop, turn a remarkable average profit margin close to forty to fifty thousand dollars. Undoubtedly, you also recognize that their success can be credited to the fact that they're professionals, are well versed in hard money loans, they understand the marketplace really well and they also know how to work a public auction to buy their houses at a reasonable price. That said, you have also been cultivating your rehab and remodeling knowledge, have a licensed contractor arranged and are confident that you're capable of doing a bang up job on this house.

But where can you find the needed capital for flipping? For those who approach a customary lender, like a bank for a loan, it in all likelihood will take a minimum of 4-8 weeks for the acceptance to come through and the money to be distributed. So if you happen to be expecting a fast closing, you need to understand that this will cost you a couple weeks, making you miss out on the home.

To add to it, banks have been tightening their lending requirements in recent times, rendering it more difficult for people to receive a traditional loan if their credit situation is not flawless or he doesn't have a consistent salaried profession. So does that mean you have no option, but to give up your aspiration of venturing into rehabbing? Certainly not, seeing as you always have the 76135 hard money loan option.

A hard money home loan in 76135 promises what is possibly most important to real estate investors — a fast closing time of as little as 14 days. Plus, the LTV value can reach up to 70% of the place's valuation, as estimated by a competent appraiser. With the rates starting out at about 10%, hard money real estate loans might seem, at first glance, to be higher in price in comparison with traditional bank loans. But the lengths of these loans are quite shorter, which means the rate is less significant. The price of such short-term loans ought to be evaluated on par with every other financial outlay that you would need to meet for the project. Right after you fix up and sell the home, recouping this expense is the same as recouping the one for home appliances you installed in the home.

What's more, it is simple to be eligible for a a hard money mortgage, regardless of whether your credit situation is not that great. As an alternative for focusing exclusively on the person's credit score or wages, 76135 hard money lenders, who may be a privately owned company or an individual, authorize a loan after assessing the home value, its marketability, its location, and the likelihood of recouping their capital in the event of foreclosure. Several other variables that impact a customer's acceptance for a hard money real estate loan include how much he is in a position to put towards a down payment, his past experience being a real estate investor, and selling price of similar, just recently sold homes in the neighborhood.

So if you have found a really good home to flip with a huge chance of returns, you have also discovered a hard money lender in 76135 that is ready to fund your rehab ventures. Fill out the contact form or call us to talk about your property or properties.

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Investment property loans only please, no primary residences at this time.