An incredible bargain on a fix and flip opportunity located in an excellent neighborhood suddenly turns up — seems too good to be true. You've heard that veteran house flippers, such as the couple on HGTV's Flip or Flop, turn a remarkable average return of around forty to fifty thousand dollars. And without a doubt, they are helped in a major way via their professional knowledge, auction expertise and understanding of hard money loans. Still, your rehab and renovation skills aren't bad either — aside from that, you have already found a good contractor to handle this job.

But financing is often a separate problem entirely. Should you approach a regular lender, such as a bank for a mortgage loan, it in all likelihood will take, at a minimum, 30-60 days for the acceptance to be completed and the funds to be sent out. Thus if you happen to be expecting a fast closing, it is important you be aware that this could set you back by a couple of weeks, making you lose out on the sale.

On top of this, banks have been tightening their lending requirements in recent years, which makes it hard for a person to get a traditional home loan if their credit circumstances are not flawless or he doesn't have a regular salaried occupation. So will a lack of funding keep you from sticking to your aspirations? Definitely not, because you always have the Marietta hard money loan alternative.

A hard money home loan in Marietta provides what's regarded as essential to many real estate transactions — a fast closing of just a couple of weeks and at times less. What's more, the LTV value can go up to 70% of the property value, as evaluated by a certified appraiser. Some people believe hard money real estate loans to be more expensive than regular financing, considering lending rates for such loans commonly start at 10%. But once you consider these are not long-term loans, the interest rate can be misleading. When it comes to short-term loans of 1 or 2 years or even less, you should think about them just like you would other expenditures for your project. After you rehab and sell off the property, recovering this expense is just like recovering the cost of the new kitchen appliances you put in the place.

Aside from that, hard money mortgages are not hard to qualify for, even in the event you posses less-than-perfect credit. As an alternative for focusing entirely on the borrower's credit score or net income, Marietta hard money lenders, who can be a private company or an individual person, approve a loan after assessing the property value, how easy it will be to market, where it is located, and the probability of getting back their money if they have to foreclose the loan. Adding to that, if the borrower can demonstrate past experience in equivalent real estate endeavors, can place down cash towards the down payment, and the cost of similar homes in the neighborhood works in his favor, he has an excellent chance of being approved to obtain a hard money real estate loan.

So in case you have stumbled upon an excellent real estate opportunity with a significant prospect of returns, you've also discovered a hard money lender in Marietta that is prepared to fund your flipping ventures. Fill out the form on this page or get in touch with us via phone to talk about your project.