Suppose you've stumbled upon this truly good deal for a fix and flip property in a terrific neighborhood, and you're either an experienced real estate investor or a newbie who is looking to try his hand at flipping. Many people know that expert professional flippers, along the lines of Tarek and Christina El Moussa who star in HGTV's reality home flipping show, Fix or Flop, can earn a typical profit of forty to fifty thousand dollars on their flips. No need to explain that their past experiences rehabbing, knowledge of hard money loans, familiarity with the housing market, and auction talents have had a big role in their success. However, you are certain that your superb rehab and renovation knowledge will enable you to do a superb job on the property — in addition, you've already arranged to have one of the finest contractors in the business to handle the project.

But how can you get the necessary funding for flipping? A conventional lending institution, for instance a bank, takes at least one to two months to consent to the loan and deliver the money. Given that home owners favor a fast closing, you may have to begin searching for some other financing alternatives.

Moreover, if you have a sub-optimal credit situation or do not have a consistent source of income, it usually is more difficult for you to qualify for a bank loan, considering the more stringent loan requirements banks have issued as of late. So does this mean you have no option, but to give up your dream to venture into flipping? Never, considering that you could always use the Marietta hard money loan approach to finance your home flipping project.

If you should get a hard money home loan in Marietta, you will get what is probably most vital to real estate offers throughout the country — a very fast closing of about 14 days. Besides that, hard money lenders frequently agree to lending up to 70% LTV of the property value, as estimated by a qualified third-party evaluation. At first glance, hard money real estate loans, with starting lending rates of 10%, seem to be higher priced than bank lending products. But when you consider these are not long-term loans, the interest rate can be misleading. The cost of such short-term loans should be evaluated on par with any other cost that you would have to meet pertaining to the project. After you renovate and unload the property, recouping this expense is no different than recouping the cost of the new kitchen appliances you installed in the house.

Besides, hard money mortgages are not difficult to qualify for, regardless if you have got a low credit score. The person's credit score is not the exclusive deciding factor for Marietta hard money lenders — in addition, they look at the house, its market value, where it is located, and its ability to return their investment if everything does not work out as intended. How much of their own money a person can put down in advance for the property, his real estate experience, and selling price of equivalent homes in the neighborhood are various other details that go into ascertaining a person's eligibility for a hard money real estate loan.

So if you have stumbled upon an excellent real estate opportunity with a significant potential for returns, you've also stumbled upon a hard money lender in Marietta who's willing to provide funding for your flipping project. Fill out the contact form or call us to talk about your property.