There's this phenomenal possibility for renovating and flipping this wonderful outdated condo in a good location and it looks like the one you have been looking forward to for quite some time. You may have heard that professional property flippers, similar to the husband and wife on HGTV's Flip or Flop, have a remarkable average profit of around forty to fifty thousand dollars. Undoubtedly, you also are aware that their results can be credited to the fact that they're industry experts, are knowledgeable in hard money loans, they understand the market quite well and furthermore, they are good at working an auction to buy their houses at a reasonable price. Nonetheless, your rehab and remodeling knowledge isn't that bad either — aside from that, you've already located an ideal licensed contractor to tackle this job.

But how can real estate investors get financing? If you go after a normal bank loan, you will end up waiting around approximately 1-2 months until the financing is approved and the funding is readily available. With the sellers wanting a fast closing, that doesn't seem like a good idea to you in the slightest.

On top of this, banks have been tightening up their lending requirements in recent years, which makes it challenging for someone to get a typical home loan if their credit circumstances are not flawless or he doesn't have a regular salaried occupation. So will inadequate funds keep you from sticking with your aspirations? By no means, especially when Bronson hard money loans can help you realize great things in real estate.

A hard money home loan in Bronson provides you with what's perhaps most sought after by real estate investors — a fast closing in as few as a few weeks. Furthermore, hard money lenders will often consent to funding up to 70% LTV of the home's valuation, as determined by a licensed third-party evaluator. On the surface, hard money real estate loans, with starting interest rates of 10%, seem to be more expensive than bank lending products. But in reality, the lending rate is not as relevant for these loans, since they aren't long-term loans. Short-term loans of a couple months to a handful of years are best looked at as cost of capital, much like every other expense involved with a project. When you have sold the property or home and have made a positive profit, you'll be able to reclaim this expense from the home — much like recouping the cost of brand-new kitchen appliances that you installed.

Moreover, even someone with poor credit can easily be eligible for a hard money mortgage. The borrower's credit score isn't the single determining factor for Bronson hard money lenders — they also examine the house, its market valuation, its location, and its capacity to earn back their financial commitment if everything does not go as intended. Adding to that, if the borrower can demonstrate prior experience in equivalent real estate projects, can put down cash towards the down payment, and the value of comparable houses in the vicinity works in his favor, he has a good likelihood of being approved to get a hard money real estate loan.

Finding a hard money lender in Bronson to fund your real estate project is not very challenging, so long as the opportunity that lies ahead of you is promising and possesses a strong potential for returns. Fill out the form on this page or get in touch with us via phone and let's discuss the project you have in mind.