An incredible bargain on a fix and flip opportunity located in an excellent subdivision shows up out of the blue — seems so good that it's difficult to believe. You may have heard that competent property flippers, such as the couple on HGTV's Flip or Flop, turn an impressive average profit of around forty to fifty thousand dollars. It goes without saying their past experiences rehabbing, understanding of hard money loans, expertise in their market, and auction skills have been major factors to their successes. Nonetheless, your rehab and remodeling skills aren't that bad either — in any case, you have already found an ideal contractor to handle this project.

But how can you find the needed funding for flipping? Should you get in touch with a common lender, like a bank for financing, it's likely going to take a minimum of 4-8 weeks for the acceptance to come through and the funds to be sent out. Considering that the sellers are wanting to find a fast closing, that doesn't appear like a good idea to you at all.

As well as this, for those who have an unfavorable credit score or do not have a routine source of income, it can be more difficult for you to obtain a bank loan, considering the tighter loan guidelines banks have put in place recently. So must you stop trying and forego your aspiration to get into fix and flips? Not at all, especially while Dixon hard money loans enable you to achieve many amazing things in real estate.

If you should apply for a hard money home loan in Dixon, you'll get what is probably most vital to real estate transactions throughout the country — a very fast closing of approximately 2 weeks. Plus, the LTV value can reach up to 70% of the property value, as estimated by a credentialed appraiser. A number of people consider hard money real estate loans to be higher in price than regular loans, since the interest rates for these loans commonly start off at 10%. But usually, the interest rate is not as pertinent for these loans, since they will never be long-term financing. The price tag on such short-term loans should be viewed on par with every other cost that you might encounter during the project. And once you have turned the property, recuperating this expense is identical to recovering the expense for all the bathroom improvements you did.

Furthermore, even someone with weak credit can still qualify for a hard money mortgage. The applicant's credit score is not the single deciding factor for Dixon hard money lenders — in addition, they evaluate the piece of real estate, its market value, its location, and its capability to bring back their investment if things do not go as intended. On top of this, if the borrower can demonstrate prior experience in comparable real estate projects, can place down money towards a down payment, and the cost of comparable properties in the neighborhood works in his favor, he has got a good likelihood of being eligible to get a hard money real estate loan.

Finding a hard money lender in Dixon to fund your fix and flip endeavor is not very hard, as long as the opportunity that lies ahead of you is promising and has the right prospect for returns. Complete the contact form or give us a call and let's talk about the property you have in mind.