There is this phenomenal possibility for fixing and flipping this nice out of date house in a good part of town and it seems a lot like the deal you have been looking forward to for quite some time. Most folks know that knowledgeable professional flippers, along the lines of Tarek and Christina El Moussa from HGTV's reality home flipping show, Fix or Flop, can make an average profit margin of $40,000 to $50,000 on their home projects. It's fair to say their past experiences rehabbing, knowledge of hard money loans, familiarity with the housing market, and auction skills have had a significant role in their results. However, you're assured that your superb rehab and renovation knowledge will help you do a superb job for this project — in addition, you have already lined up one of the best building contractors in the business to take on the project.

But where do you get the necessary capital for flipping? A conventional lender, say for example a bank, takes no less than 1 to 2 months to consent to the loan and deliver the funds. Given that sellers wish to have a fast closing, it may be advisable to begin searching for some other funding alternatives.

With banks adding harder loan requirements in the past several years, it is much harder for a self-employed individual to find a home loan, especially when his credit rating is not optimal. So does that leave you with no option, but to drop your ambition of venturing into flipping? Most certainly not, seeing as you also have the Polo hard money loan alternative.

A hard money home loan in Polo can provide what is considered essential to many real estate sales — a fast closing of just a 2-3 weeks and at times less. Besides that, hard money lenders can approve lending up to 70% LTV of the home's valuation, as calculated by a credentialed third-party evaluator. With lending rates starting near 10%, hard money real estate loans may look, initially, to be more costly in comparison with traditional bank financing. But when you understand these loans are not long-term home loans, the rate of interest can be misleading. The cost of such short-term loans should be looked at much like every other expenditure that you would need to meet for the project. Once you've sold the property and have made a good profit, you'll be able to recover this expense from the property — very much like recuperating the cost of brand-new home appliances that you installed.

Apart from this, hard money mortgages are easy qualifying, even if you posses a low credit rating. The borrower's credit score isn't the lone determining factor for Polo hard money lenders — in addition, they evaluate the house, its market valuation, its location, and its capability to earn back their investment if things should not work out as intended. Adding to this, if the applicant can demonstrate prior experience in equivalent real estate projects, can place down money for a down payment, and the value of comparable properties in the area works to his benefit, he has a really good shot of qualifying for a hard money real estate loan.

So in case you have found a wonderful real estate opportunity with a huge prospect of returns, you've also found yourself a hard money lender in Polo that's prepared to fund your flipping ventures. Complete the form or call us to discuss your project.