Private real estate financing means getting a short-term mortgage via a privately owned company or individual as a way to purchase, carry out upgrades on or refinance a property. Contrary to bank loans, Marietta private mortgage loans close fast, are easy to qualify for and offered to self-employed customers.

This is very fortunate for investors considering that even anyone with poor credit can qualify for private money for a real estate loan as long as he has a deal that shows strong potential, he has adequate cash for a down payment, he has demonstrated himself competent in prior real estate ventures, and can show a preplanned exit strategy. And having fast closings of two weeks, private real estate mortgages in Marietta are an ideal choice for ambitious real estate investors.

Most individuals depend on Marietta private mortgage lenders when:

1. They need to update or make repairs to the property or home to enable them to sell it at a much higher price point or to get higher monthly rental fees.

   As an example, one of our clients owned a twin-home / duplex. At the time, he retained a good deal of equity available in the property and the rent payments generated steady cash flow. Some choice home enhancements would undoubtedly help him bump up the cost of rent, but having a bad credit score of 520, it was very certain that a bank would turn down his mortgage request. So the customer called Read Rock Capital (Read Rock Capital) to execute a cash-out refinance which got him a loan for 65% of the property's market value.

2. They want to merge all their outstanding debts into a single payment.

   Most people know how stressful it is to deal with countless payments on a monthly basis. For this reason, many people decide to make the most of the equity in their home to combine all of their financial debts into only one loan with a lone monthly payment.

3. They want to take advantage of their house's existing equity for an additional home purchase.

   One of Island View's borrowers in Hawaii had a home worth $1M. His idea was to sell the house but it didn't work out and he eventually had to be content with leasing the house to an interested party, with an option to purchase it at a future date. The amount of rent was sufficient to cover the cost of his ongoing mortgage bill, property taxes and insurance payments. He also was given a two hundred thousand dollars non-refundable advance payment for the three year lease contract. With these assurances to cover the home's foreseeable bills, he came across another promising real estate opportunity and got into contact with Read Rock Capital to obtain a private mortgage loan nearly seventy percent of the property's estimated value. This means that he was able to make a deposit for the new property, and also help with his existing mortgage.

4. They need assistance to meet the balloon payment for a previous mortgage.

   If a person is unable to pay a balloon payment thanks to unforeseen factors, he can try and refinance the loan with a different mortgage company. A refinance can help the person hit the due date for the balloon payment and steer clear of any consequences.

Are you searching for a private mortgage lender in Marietta to help you afford your investment purchase? Complete the contact form or call us and let's talk about your project.