Hard Money Loans in Henagar
A fantastic bargain on a fix and flip property located in an excellent area of the city all of a sudden shows up — seems too good to be true. Most folks know that skilled professional flippers, along the lines of Tarek and Christina El Moussa who star in HGTV's reality home flipping series, Fix or Flop, can readily earn an average profit of forty to fifty thousand dollars in their rehab business. Of course, you also realize that their great results are due to the fact that they are industry experts, are knowledgeable in hard money loans, they understand the marketplace really well and furthermore, they know how to work an auction to purchase their properties at a good price. With that being said, you have likewise been brushing up your rehab and renovation skills, have got a general contractor arranged and are certain that you're capable of doing a stellar job for this home.
But money can be a separate issue altogether. For those who apply for a conventional bank loan, you will end up waiting roughly 1 to 2 months until eventually the mortgage loan is approved and your funding is available. With all the sellers seeking a fast closing, that does not seem like a good idea to you at all.
To add to it, banks have already been tightening up their lending criteria as of late, which makes it difficult for a person to get a typical loan if their credit rating is not flawless or he is lacking a regular salaried profession. So does this leave you with no option, but to drop your dream to venture into flipping? Never, due to the fact you could always use the
A hard money home loan in
Besides, hard money mortgages are easy qualifying, regardless if you have a bad credit rating.
If you happen to have found a really good real estate opportunity with a high chance of returns, you've also discovered a hard money lender in
A loan specialist will be in touch shortly