Hard Money Loans in Lone Tree

Imagine you've run across this truly good deal on a fix and flip property located in an ideal neighborhood, and you are either a seasoned real estate investor or a first-timer who is looking to try out flipping houses. You may have heard that competent property flippers, similar to the couple on HGTV's Flip or Flop, enjoy a remarkable average profit near $40,000 – $50,000. Naturally, you also realize that their success are due to the simple fact that they're industry experts, are well versed in hard money loans, they understand the market really well and furthermore, they are good at working an auction to buy their homes at a good price. Still, your rehab and remodeling knowledge isn't that bad either — besides, you've already identified the right licensed contractor to start this job.

But where do you find the necessary financing for flipping? In the event you opt for a regular loan via a bank, you will have to wait roughly 4-8 weeks up until the money is authorized and the funds are available. So if you're expecting a fast closing, you have to be aware that this will set you back by a few weeks, making you miss out on the sale.

To add to it, banks have been tightening up their lending standards in recent times, which makes it hard for a person to get a conventional home loan if their credit rating is not flawless or he does not have a consistent salaried profession. So must you admit defeat and forego your aspiration to embark into fix and flips? Not at all, particularly while Lone Tree hard money loans enable you to realize great things in real estate.

A hard money home loan in Lone Tree gives you what's regarded as essential to many real estate deals — a quick closing of just a 2-3 weeks and at many times even less. In addition, the LTV value can go up to 70% of the property's valuation, as evaluated by a credentialed appraiser. With the lending rates starting around 10%, hard money real estate loans might appear, at first, to be more expensive compared to traditional bank lending products. But in reality, the lending rate is not as useful a measure for these loans, simply because they aren't long-term loans. When it comes to short-term loans of a handful of years or even less, you should look at them just like you would other expenses for your project. After you renovate and resell the house, recouping this expense is no different than recuperating the expense for home appliances you put in the home.

Besides, hard money mortgages are not difficult to qualify for, regardless if you posses poor credit. Lone Tree hard money lenders do not authorize a loan solely based on the borrower's credit score — rather they also look at the property, its location and value, and the home's capability to pay back the financing by itself. Other variables that influence an applicant's eligibility for a hard money real estate loan can include how much he is in a position to put towards a down payment, his past experience as a real estate investor, and price range of comparable, fairly recently sold homes in the area.

So in the event you run into a really good and profitable investment opportunity, relax knowing you'll have a hard money lender in Lone Tree, in a position to loan you the capital you need. Complete the form on this page or call us and let's talk about your property or properties.

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Investment property loans only please, no primary residences at this time.