Hard Money Loans in Fairfield
Imagine you've encountered this truly good bargain on a fix and flip property you found in a great location, and you're either a seasoned real estate investor or a first-timer who wants to try out flipping houses. You've heard that veteran house flippers, such as the married couple on HGTV's Flip or Flop, enjoy an impressive average profit close to $40,000 – $50,000. And indeed, they are aided in a major way via their professional know-how, auction expertise and familiarity with hard money loans. That said, you have likewise been developing your rehab and remodeling skills, have a contractor ready for the project and are confident that you're capable of doing a great job for this house.
But funding can be a different question altogether. When you opt for a traditional loan from the bank, you will end up waiting around roughly 30-60 days until eventually the loan is approved and your money is accessible. With the sellers looking for a fast closing, that doesn't appear to be a wise idea to you at all.
On top of this, banks have already been tightening up their lending requirements in recent times, making it challenging for a person to receive a typical home loan if their credit score is not flawless or he does not possess a regular salaried occupation. So should you stop trying and forego your dream to embark into real estate? Most certainly not, seeing as you always have the
A hard money home loan in
In addition, even an individual with poor credit can still qualify for a hard money mortgage. As an alternative for focusing exclusively on the person's credit score or income,
If you happen to have found an excellent fixer-upper with a huge potential for returns, you've also found yourself a hard money lender in
A loan specialist will be in touch shortly