Hard Money Loans in Greensboro
An incredible bargain on a fix and flip opportunity in a nice subdivision shows up out of the blue — sounds too good to be true. You may have heard that veteran property flippers, such as the couple on HGTV's Flip or Flop, enjoy an impressive average profit of around $40,000 – $50,000. And indeed, they are aided in a major way via their professional experience, auction abilities and knowledge of hard money loans. However, you are assured that your impressive rehab and remodeling knowledge can help you do an outstanding job on this property — in addition, you already have arranged to have one of the most suggested general contractors in the area to take care of this project.
But funding is usually a different issue altogether. In the event you approach a standard lender, much like a bank for funding, it can take, at a minimum, 30-60 days for the approval to be completed and the money to be dispersed. So if you're looking for a fast closing, you must realize that this will cost you a few weeks, making you miss out on the home.
On top of this, banks have been tightening up their lending requirements in recent years, rendering it more tough for someone to get a conventional home loan if their credit rating is not perfect or he does not have a consistent salaried occupation. So does this leave you with no other option, but to abandon your ambition of venturing into flipping? Absolutely not, because you also have the
If you apply for a hard money home loan in
Besides, hard money mortgages are easy qualifying, even if you have less-than-perfect credit. Instead of focusing primarily on the applicant's credit score or net income,
Searching for a hard money lender in
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