Imagine you've come across this truly good bargain on a fix and flip property you found in a great neighborhood, and you are either an experienced real estate investor or a first-timer who is looking to try out flipping homes. Most folks know that expert professional flippers, such as Tarek and Christina El Moussa who star in HGTV's reality home flipping series, Fix or Flop, can turn an average profit margin of $40,000 to $50,000 on their home projects. No need to explain that their past experiences rehabbing, knowledge of hard money loans, expertise in their market, and auction skills have been large factors to their results. Still, your rehab and renovation knowledge isn't that bad either — aside from that, you've already identified an ideal licensed contractor to start the job.

But where can real estate investors get money? A conventional lender, like for example a bank, takes no less than 1-2 months to authorize the mortgage and hand over the cash. Considering that the home owners want a fast closing, that does not appear to be a wise idea to you in the slightest.

On top of this, banks have been tightening up their lending standards in recent times, which makes it difficult for a person to get a traditional home loan if their credit rating is not flawless or he doesn't have a consistent salaried job. So does that leave you with no other option, but to give up your dream of getting into flipping? By no means, especially when San Juan hard money loans can help you achieve great things in real estate.

If you decide to put in an application for a hard money home loan in San Juan, you will get what is probably most essential to real estate offers across the country — a quick closing of approximately two weeks. What's more, the LTV value can range up to 70% of the property's valuation, as evaluated by a credentialed appraiser. With lending rates starting off near 10%, hard money real estate loans may look, initially, to be higher in price compared to conventional bank loans. But the time frames of these loans are relatively shorter, which makes the interest rate much less significant. The price of such short-term loans should be viewed on par with every other financial outlay that you will encounter in the course of the project. Right after you fix up and unload the house, recovering this expense is no different than recuperating the cost of the new kitchen appliances you put in the home.

Additionally, it's easy to be eligible for a hard money mortgage, regardless if your credit rating is not that impressive. Instead of focusing primarily on the person's credit score or income, San Juan hard money lenders, who can be a privately owned company or an individual, say yes to a loan after analyzing the property value, ease of marketability, where it is located, and the probability of recovering their money in case of foreclosure. On top of that, if the borrower have proven experience in comparable real estate ventures, can place down cash for a down payment, and the price of similar properties in the area works in his favor, he stands a very good shot of qualifying to get a hard money real estate loan.

If you happen to have found an excellent home to flip with a significant probability of returns, you've also stumbled upon a hard money lender in San Juan who's prepared to finance your rehab projects. Complete the contact form on this page or give us a call and let's talk about the property or properties you have in mind.