You discovered this phenomenal opportunity to fix and flip this wonderful out of date home in a very good part of town and it seems a lot like the one you have been eagerly waiting on for quite some time. You've heard that professional house flippers, like the married couple on HGTV's Flip or Flop, have an impressive average return of around forty to fifty thousand dollars. Of course, you also recognize that their success are due to the fact that they're experts, are proficient in hard money loans, they understand the market really well and in addition, they are good at working a public auction to buy their houses at an appropriate price. Nevertheless, you are assured that your impressive rehab and remodeling knowledge will enable you to do an outstanding job on this house — furthermore, you already have arranged to have one of the most sought after contractors in the business to take care of this job.

But where do you find the needed funding for flipping? In the event you opt for a regular loan via a bank, you will have to wait around approximately 1-2 months up until the time the loan is approved and the money is ready. So if you happen to be hoping for a fast closing, you have to be aware that this will cost you a couple of weeks, causing you to miss out on the opportunity.

With banks bringing in harder loan requirements in the recent past, it's become tougher for a self-employed person to get a home loan, especially when his credit situation is not flawless. So will a shortage of financing stop you from sticking to your aspirations? By no means, especially while Venus hard money loans can help you accomplish many amazing things in the real estate world.

A hard money home loan in Venus provides you with what's perhaps most crucial to real estate investors — a very fast closing in as few as 2 weeks. Plus, the LTV value can go up to 70% of the home's valuation, as evaluated by a credentialed appraiser. With the loan rates starting off around 10%, hard money real estate loans might appear, initially, to be more expensive when compared with traditional bank lending products. But the time frames of these loans are relatively short, making the interest rate less significant. As it pertains to short-term loans of a few years or even less, you should consider them just like you would other expenses for your project. After you renovate and unload the home, recovering this expense is the same as recuperating the one for home appliances you placed into the place.

In addition, even an individual with low credit can still qualify for a hard money mortgage. Rather than focusing primarily on the borrower's credit score or net income, Venus hard money lenders, who can be a privately owned company or an individual person, authorize a loan after examining the home value, its marketability, its location, and the odds of getting back their money if they have to foreclose the loan. Other factors that impact a borrower's approval for a hard money real estate loan include how much money he is in a position to put towards a down payment, his prior experience as a real estate investor, and selling price of comparable, fairly recently sold residences in the vicinity.

So in the event you run into an outstanding and lucrative flipping opportunity, relax knowing you will have a hard money lender in Venus, willing to loan you the money you'll need. Complete the form on this page or get in touch with us via phone to discuss the project you have in mind.