Hard Money Loans in Nixa

Suppose you've run across this truly good deal for a fix and flip property located in a great neighborhood, and you're either a seasoned real estate investor or a newbie who hopes to try his hand at flipping. Many people know that capable 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 margin of $40,000 to $50,000 on their home projects. Undoubtedly, you also know that their results are credited to the fact that they are professionals, are proficient in hard money loans, they know market trends quite well and they also are good at working an auction to buy their houses at a reasonable price. That said, you have also been developing your rehab and remodeling skills, have got a licensed contractor lined up and are certain that you will be able to do a stellar job for this house.

But money is a different question entirely. When you meet with a customary lending institution, like a bank for funding, it more than likely will take a minimum of thirty to sixty days for your approval to come through and the funds to be dispersed. With all the home owners wanting a fast closing, that does not seem like a good idea to you in the slightest.

On top of this, banks have been tightening up their lending requirements in recent times, which makes it tough for a person to receive an ordinary loan if their credit rating is not perfect or he doesn't have a regular salaried profession. So do you have to admit defeat and abandon your ambition to venture off into fix and flips? Definitely not, given that you always have the Nixa hard money loan option.

A hard money home loan in Nixa boasts what is perhaps most desired by real estate investors — a quick closing time of as little as a few weeks. In addition, the LTV value can range up to 70% of the home's valuation, as estimated by a certified appraiser. A number of people consider hard money real estate loans to be costlier than regular loans, considering interest rates for these loans generally start at 10%. But when you consider these are not long-term home loans, the interest rate tends to be misleading. Short-term loans of a couple months to a handful of years are best thought of in terms of cost of capital, much like all other expenses associated with a project. When you have resold the property or home and have made a positive return, you're able to reclaim this expense from the property — very much like recouping the cost of brand-new home appliances that you put in.

Besides, hard money mortgages are not hard to qualify for, regardless if you posses very bad credit. Rather than focusing only on the person's credit score or net income, Nixa hard money lenders, who may be a privately owned company or an individual, authorize a loan after examining the home value, ease of marketability, its location, and the probability of recouping their capital in case of foreclosure. Adding to that, if the person have proven experience in equivalent real estate endeavors, can place down cash towards the down payment, and the value of equivalent homes in the area works to his benefit, he stands an excellent shot of being eligible for a hard money real estate loan.

So in case you have found a really great fixer-upper with a significant chance of returns, you have also stumbled upon a hard money lender in Nixa that's willing to provide financing for your fix and flip venture. Complete the form or call us and let's talk about the project you have in mind.

Request More Information

A loan specialist will be in touch shortly

Personal Info

Project Info

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