You are ready to start construction, but the loan process is slowing you down.
You should consider obtaining a hard money loan to get going on your project today.
Hard money loans can be obtained quickly and with little upfront cost to you.
What are hard money loans and how can I obtain one?
These kinds of properties are meant to be purchased at a wholesale rate, as no Retailer would go out for such kind of transactions. The property may be very old fashioned or greatly ruined by tenants.
It means you are required to invest a lot of money on its rehabilitation and fixation, according to the present market trends. You cannot perform the whole task alone, and you need an agency like hard money loans Virginia, to invest in the fixation of that property.
Such properties are called whole sale ones, as lot of investment is needed on these.
To prevent such a scenario from occurring, always get the best deals when investing in real estate. Unlike ordinary bank loans, hard money loans are asset based. If the property, for which the loan is being made, has a high after repair value (ARV), then the loan application will be approved.
Therefore, you should see to it that the property you want to flip or rehab has a good ARV to obtain hard money.
Commercial hard money is similar to traditional hard money, but may sometimes be more expensive as the risk is higher on investment property or non-owner occupied properties.
Commercial Hard Money Loans may not be subject to the same consumer loan safeguards as a residential mortgage may be in the state the mortgage is issued.
Commercial hard money loans are often short term and therefore interchangeably referred to as bridge loans or bridge financing.
You should consider obtaining a hard money loan to get going on your project today.
Hard money loans can be obtained quickly and with little upfront cost to you.
What are hard money loans and how can I obtain one?
These kinds of properties are meant to be purchased at a wholesale rate, as no Retailer would go out for such kind of transactions. The property may be very old fashioned or greatly ruined by tenants.
It means you are required to invest a lot of money on its rehabilitation and fixation, according to the present market trends. You cannot perform the whole task alone, and you need an agency like hard money loans Virginia, to invest in the fixation of that property.
Such properties are called whole sale ones, as lot of investment is needed on these.
To prevent such a scenario from occurring, always get the best deals when investing in real estate. Unlike ordinary bank loans, hard money loans are asset based. If the property, for which the loan is being made, has a high after repair value (ARV), then the loan application will be approved.
Therefore, you should see to it that the property you want to flip or rehab has a good ARV to obtain hard money.
Commercial hard money is similar to traditional hard money, but may sometimes be more expensive as the risk is higher on investment property or non-owner occupied properties.
Commercial Hard Money Loans may not be subject to the same consumer loan safeguards as a residential mortgage may be in the state the mortgage is issued.
Commercial hard money loans are often short term and therefore interchangeably referred to as bridge loans or bridge financing.
from Real Estate Investing Tips - LM2 Investment Group - Blog http://ift.tt/1HpVOSE
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