Hard Money Loans in Dora
Imagine you've encountered this excellent bargain for a fix and flip property you found in a great neighborhood, and you're either an experienced real estate investor or a first-timer who wants to try out flipping houses. Most folks know that capable professional flippers, along the lines of Tarek and Christina El Moussa from HGTV's reality flipping program, Fix or Flop, can turn a typical profit of $40,000 to $50,000 on their flips. Naturally, you also recognize that their results can be attributed to the simple fact that they are industry experts, are proficient in hard money loans, they know market trends really well and they also are good at working a public auction to purchase their properties at a reasonable deal. With that being said, you have also been cultivating your rehab and renovation knowledge, have a contractor ready for the project and are confident that you will be able to do a great job on this home.
But how do you find the necessary financing for flipping? A standard lender, like for example a bank, takes at least 1 to 2 months to consent to the financing and provide the cash. Since the majority of sellers would rather have a fast closing, you might need to begin seeking out other financing options.
To add to it, banks have been tightening up their lending standards in recent years, rendering it more tough for someone to obtain a regular home loan if their credit circumstances are not flawless or he does not have a consistent salaried job. So do you have to give up and forego your ambition to venture off into fix and flips? Absolutely not, given that you always have the
A hard money home loan in
Also, it isn't difficult to qualify for a hard money mortgage, regardless of whether your credit rating is not that great. The borrower's credit score will not be the single determining factor for
So should you run into a good and profitable investment opportunity, be assured you will have a hard money lender in
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