Hard Money Loans in Graysville
A remarkable bargain on a fix and flip opportunity located in a nice neighborhood all of a sudden shows up — seems too good to be true. Professional property flippers, like the young couple on Flip or Flop, HGTV's reality flipping series, are capable of hauling in a gain of $40-$50k for the majority of homes. And sure, they are helped in a big way by their professional experience, auction skills and understanding of hard money loans. With that being said, you have recently been developing your rehab and remodeling skills, have a very good licensed contractor ready for the project and are certain that you can do a stellar job on this property.
But money is often a different issue entirely. When you opt for a traditional loan via a bank, you will end up waiting around somewhere around 1-2 months up until the time the mortgage loan is approved and the funds are ready to go. So if you're anticipating a fast closing, it is important you understand that this may set you back by weeks, making you lose out on the opportunity.
On top of this, banks have already been tightening their lending criteria in recent times, making it difficult for someone to receive a traditional loan if their credit rating is not flawless or he doesn't have a regular salaried job. So does this mean you are without an option, but to give up your aspiration of venturing into rehabbing? Most certainly not, given that you also have the
A hard money home loan in
Additionally, it is simple to be eligible for a hard money mortgage, even in the event your credit situation is not that impressive.
So in the event you come across a very good and worthwhile flipping opportunity, rest assured you will have a hard money lender in
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