subject: What If Hard Money Mortgage Lenders... [print this page] Everyone has a what if? in life. What if I went for that high school hottie? What if I took up I.T. instead of humanities? What if I was born a monarch? In most cases, we can never answer these questions. But in cases though, we are fortunate that we are given the opportunity. What if I had a pool of hard money mortgage lenders financing all of my real estate deals? is a perfect example.
So what is these hard money mortgage lenders start to finance your real estate deals? Then youre in for some change of lifestyle. If theres one thing you have to know, then this is it: When a hard money lender funds a deal, its a deal that everybody is going to make money in. So does all this come to play?
When hard money lenders finance a deal, that means they believe its going to be a profitable venture. Thats because these creditors care about the deal so much. After all, its their money thats on the line. You must know that these lenders are also real estate investors. They have been in the business for years. In fact, they probably amassed their wealth through real estate investing. However, they no longer want to do house rehabs because theyve found that it is easier to lend money and wait for the interest to return. Since they care about the deal so much and they have been in the business for quite some time, their approval means the deal is a good one.
A hard money lender also can finance up to 70% of the after repair value of the property. In the field of rehabbing houses, this amount is often enough to buy a rundown house and repair it. Other lenders are not willing to release this much money, apart from the fact that banks do not usually finance investment properties by private individuals. That means that if you borrow from banks, you will have to come up with extra money for the repairs because they wont provide you that much funding.
Hard money mortgage lenders can help your real estate investing career for the better because they can release the check in just days. Imagine if you find a solid homerun deal today and close on it on Tuesday! What will be left for your competition? Nothing but DUST. Traditional lenders, on the other hand, need around a month to process your application. By then, the deal had been snatched by a richer competition. Dont let this happen to you.
Learn more about finding a hard money lender right in your own town today. Visit RehabHardMoney.com today.
by: Judy McKay
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