An incredible deal on a fix and flip opportunity in a good subdivision all of a sudden shows up — sounds so good that it's hard to believe. Professional house flippers, similar to the young married couple on Flip or Flop, HGTV's reality flipping series, are able to haul in a gain of forty to fifty grand on a consistent basis. It goes without saying their rehabbing experience, understanding of hard money loans, familiarity with the housing market, and auction skills have played an important role in their successes. Nonetheless, your rehab and remodeling knowledge isn't that bad either — besides, you've already located a good licensed contractor to start the home.

But how can you find the needed financing for home flipping? For those who approach a common lending institution, much like a bank for funding, it's more than likely going to take, at the very least, thirty to sixty days for the acceptance to come through and your funds to be furnished. Given that home owners would rather have a fast closing, you may have to start seeking out some other financing options.

To add to it, banks have been tightening up their lending criteria in recent years, rendering it more challenging for people to obtain a regular loan if their credit circumstances are not flawless or he doesn't have a regular salaried occupation. So does that mean you have no option, but to give up your ambition of getting into home renovating? Not at all, especially when Seven Fields hard money loans can help you achieve many amazing things in real estate.

A hard money home loan in Seven Fields gives you what's perhaps most sought after by real estate investors — a very fast closing time of as few as 14 days. Aside from that, financing can be done for up to 70% loan-to-value of the "as is" property's valuation, as determined by a licensed appraiser. A number of people believe hard money real estate loans to be more expensive than customary financing, since the lending rates for such loans usually start off at 10%. But once you appreciate that these are not long-term mortgage loans, the rate of interest tends to be misleading. When it comes to short-term loans of several years or even less, you should think of them similar to any other expense for the project. Right after you fix up and sell off the property, recovering this expense is the same as recouping the cost of the home appliances you put in the place.

Moreover, even individuals with poor credit will be able to qualify for a hard money mortgage. Instead of focusing primarily on the borrower's credit score or source of income, Seven Fields hard money lenders, who can be a privately owned company or an individual, say yes to a loan after evaluating the home value, its salability, where it is located, and the possibility of recuperating their capital in case of foreclosure. The total amount that an individual can put down in advance for the property or home, how much practical experience he has in real estate investments, and price range of equivalent properties in the same vicinity are various other details that go into determining an applicant's suitability for a hard money real estate loan.

Finding a hard money lender in Seven Fields to fund your fix and flip endeavor is not very hard, provided that the opportunity before you is promising and possesses a good potential for returns. Fill out the contact form on this page or get in touch with us via phone and let's discuss your property.