There is this outstanding opportunity to fix and flip this wonderful outdated property in a very good area and it seems like the one you've been expecting for a long time. You've probably heard that competent home flippers, similar to the husband and wife on HGTV's Flip or Flop, enjoy a remarkable average return of around $40,000 – $50,000. Without question, their rehabbing experience, knowledge of hard money loans, expertise in their housing market, and auction talents have had an important part in their success. On the other hand, you are assured that your superb rehab and remodeling talents will help you do a great job on this home — additionally, you have already arranged to have one of the premier building contractors in the business to work on this project.

But money is often a different problem entirely. Should you go after an ordinary loan via a bank, you will end up waiting around somewhere around one to two months before the loan is approved and the funds are accessible. With all the sellers looking for a fast closing, that does not appear to be a good option to you in the slightest.

Moreover, for those who have a sub-optimal credit rating or do not have a consistent income, it may be harder for you to obtain a bank loan, with the tougher loan guidelines banks have introduced as of late. So must you give up and abandon your ambition to embark into fix and flips? By no means, especially while Leavenworth hard money loans enable you to realize many amazing things in the real estate market.

A hard money home loan in Leavenworth gives you what is probably most crucial to real estate investors — a quick closing time period of as few as a few weeks. Also, hard money lenders will often consent to funding up to 70% LTV of the home value, as determined by a qualified third-party evaluator. Some individuals regard hard money real estate loans to be higher in price than standard financing, because the lending rates for these loans typically start off at 10%. But the time frames of these loans tend to be fairly short, which means the rate is far less significant. The cost of such short-term loans ought to be evaluated on par with any other expenditure that you might encounter during the project. Once you have sold the property and have made a good return, you'll be able to get back this expense from the property — very much like recovering the money spent on the brand-new appliances for the kitchen that you've put in.

What's more, it's easy to obtain a hard money mortgage, even if your credit situation is not that impressive. Leavenworth hard money lenders do not approve a loan strictly judging by the borrower's credit score — instead they also evaluate the property or home, its value and location, and the property's capability to pay back the loan on its own. How much an applicant can put down beforehand towards the property, how much practical experience he has in real estate investing, and price range of comparative homes in the vicinity are additional details that go into determining a person's suitability for a hard money real estate loan.

So in case you have stumbled on a really great home to flip with a significant prospect of returns, you have also discovered a hard money lender in Leavenworth that's willing to provide funding for your fix and flip venture. Complete the form on this page or call us and let's discuss the property or properties you have in mind.