Private real estate financing can help investors purchase, renovate or refinance a home utilizing a short-term loan from a privately owned firm or an individual. Hialeah private mortgage loans have many advantages — they close fast, are easy to qualify for and are also open to self-employed individuals.

That's good for investors considering that even somebody with weak credit can opt for private money for a real estate loan provided that he has a promising deal, he has plenty of cash for a downpayment, he has demonstrated himself capable in past real estate investments, and has a sensible exit strategy. Furthermore, if you are looking for a fast closing, there are no better options than Hialeah private real estate mortgages.

In general, customers approach a private mortgage lender in Hialeah when:

1. They're in search of money to fix a house and market it at a higher price point or to rent it out at a higher monthly amount.

   One example is a borrower who held a two-family rental. At the time, he retained a lot of equity in the property and the rent payments generated steady income. He desired to complete some upgrades to the place to be able to maintain high rents, but a below average credit score of 520 meant a bank would doubtless turn down the loan request. When he approached Read Rock Capital to obtain a loan, we were happy to do a cash-out refinance for 65% of the home's value.

2. They have multiple personal debts and desire to consolidate them.

   Numerous unsecured debts with various rates are very overwhelming and hard to keep tabs on. To make the situation more manageable, people merge their debts into only one line of credit with one monthly payment.

3. They prefer to unlock their existing equity in one home and purchase another one.

   As one example, a customer in Hawaii had his residence which was valued at $1,200,000. His plans to sell the house did not happen and he eventually was forced to be satisfied with leasing the property to someone, with an option to purchase it at a future date. The revenue that came from the lease covered his regular mortgage expenses, insurance, and taxes. He also was given a two hundred thousand dollars non-refundable deposit for the 3-year contract. The signed agreement meant that he did not have to concern himself with the property's future financial obligations, so when a new investment opportunity showed up, he reached out to Read Rock Capital and got a private mortgage loan at 70% LTV. This let him pay an advance on the downpayment for his next property, and at the same time pay down his present mortgage.

4. The balloon payment for an existing mortgage is owed soon and they can't afford it.

   A real estate investor who already has an existing private loan and isn't able to afford the balloon payment because of a change in circumstances can submit an application for refinancing from another loan company. A cash-out refinance helps you pay the balloon payment and evade consequences.

Trying to find a private mortgage lender in Hialeah to finance your investment purchase? Fill out the form or call us to discuss the project you have in mind.