Countless real estate investors depend on private real estate financing to buy a new property or home, or rehab or refinance one they already have. Wausau private mortgage loans have many advantages — they are fast closing, have minimal eligibility requirements and are also offered to self-employed applicants.

That's very good news for investors because even an individual with poor credit can obtain a private money for a real estate loan so long as he has a promising deal, he has enough money for a downpayment, he has demonstrated himself able in past real estate projects, and he can show a good exit strategy. In addition to this, if you are hoping for a fast closing, you won't find any options better than Wausau private real estate mortgages.

Frequently, clients count on Wausau private mortgage lenders to finance their real estate ventures when:

1. They are searching for money to fix up a property and market it at a higher price point or to up the lease amount for tenants.

   For instance, there was this customer with a 2-unit rental. He already retained plenty of equity in the building and the rent delivered steady cash flow. He wanted to complete some upgrades to the property to be able to maintain high rents, but a lower credit score of 520 meant that a bank would turn down his mortgage application. For that reason, the borrower got in contact with Read Rock Capital (Read Rock Capital) to do a cash-out refinance which in turn got him financing for 65% of the duplex's market value.

2. They're saddled with numerous unsecured debts and prefer to consolidate them.

   Multiple unsecured debts with different rates are quite overwhelming and tough to manage. To make the situation more reasonable, some people consolidate each of their unsecured debts into only one line of credit with one monthly payment.

3. They want to take advantage of their property's existing equity for a different real estate deal.

   One of Island View's clients in Hawaii owned a residence worth $1.2 million. He wanted to sell the house but that didn't work out and he eventually was forced to be satisfied with leasing the house to someone, with the option to purchase it at a future time. The money that came from the rental payments took care of his monthly mortgage payment, home owner's insurance, and property taxes. The tenant also agreed to pay him two hundred thousand dollars for a deposit for the 3 year agreement. Having these assurances to take care of the home's bills on an ongoing basis, he contacted Read Rock Capital to get a 70% loan-to-value private mortgage loan to help with his upcoming purchase of an investment property. Meaning that he could make a down payment for the new property, and also repay his present mortgage.

4. They need help to satisfy the balloon payment for the existing loan.

   A real estate investor who has a prior private mortgage and is not able to pay for the balloon payment because of a change of circumstances can apply for refinancing from a new company. Refinancing ahead of the term date enables the borrower to meet the due date for the balloon payment and avoid penalty charges associated with failing to pay the balloon payment.

Planning to discuss your investment alternatives with a private mortgage lender in Wausau? Submit the contact form or get in touch with us via phone and let's discuss your property or properties.