Hard money lending has proven countless times repeatedly as the easiest and quickest way to finance most of today’s real estate investments; hence what is a hard money loan, if not for investor’s primary source of funding a real estate deal. As America’s reputable and trustworthy fix and flip lender, www.QuickRealEstateFunding.com helps borrowers build a bright financial future through real estate investments. As a hard money lender, we have a joint initiative: to make available real estate loans for buying and rehabbing fixer uppers fast. Our Fix and Flip Loan product, focused on the as-is and after repair value rather than the borrower’s personal income or loan to debt ratio. Traditional lenders have stricter guidelines, requires lots of documents, very time consuming and harder to get approved. Real Estate Investors find the loan process for Private Money Lending, simple and quick with no income verification. The real estate market is extremely competitive right now and time sensitive, being able to close within 2-3 weeks is extremely helpful!
Strategies Using Hard Money
The following process would need the services of a hard money lender to finance their real estate transactions:
Fix and Flip
Understanding the basics of hard money lending represents the first step of breaking down real estate financing. Hard money loans are a real estate fix and flip investor’s best friend; they are the quickest path to secure a deal. Just as every investor and investment opportunity varies, so do lenders often consider things different from one another, and just so you know, the lender who funded your first deal might not be your best bet for the 10th.
Every real estate investor looking to implement the BRRRR strategy should have a primary objective to get a secure lender. Most often, investors in the BRRRR strategy make the mistake of looking for a lender only when they feel like they would need one. The best thing that you can do for yourself is to begin searching for, vetting, and building a relationship with a lender as early in the process as possible. Meeting with lenders prior will highlight any issues you might have with credit or income you might need to fix before you need the money for repairs. Tackling this early will save you a big headache in the future.
Short Term Financing
The traditional loan involved when an investor is fixing and flipping a property. Quick Real Estate Funding Fix and Flip loan product provides up to 90% financing with 100% of the rehab costs, up to 75% after repair value. Investors often receive up to 12 months rehab period and then resell the property for a profit. This kind of funding works best for fixer upper properties before listing on the market due to the short time duration of the loan.
How Fix and Flip Lenders Do it
Hard money lending, also called fix and flip lending, is a short-term secured loan by real estate investors funded by private investors, unlike the conventional method of lending (big banks). Investors who buy property in any condition requires hard money to fix the property and flip (sell) it for profit. Private Money Lenders have simple guidelines to qualify, usually a 680 fico score or higher, reserves for closing costs, rehab budget, and an appraisal.
If you are a Brand New or Experienced Real Estate Investor, we have several loan products, “fix and flip,” “bridge,” rental loan,” and “Multi-family” to help you quickly build wealth through real estate investments. If you need to close to fast to win the bidding war, we can close usually with 2-3 weeks. To get started and get a free pre-approval please click here https://www.quickrealestatefunding.com/hard-money-pre-approval/ We are Real Estate Investors best funding partner!