When trying to purchase a property through a conventional route, one’s credit history needs to be near perfect to receive approval and a favorable loan rate. However, to build credit one must create temporary debt, so what do you do if you prefer to use cash as much as possible and only use credit as […]
Fraud is common in the financial industry, and hard money loans are not immune to fraudulent practices either. If you’re thinking of choosing a hard money lender for your next investment to purchase, there are a few things to watch out for. Extra fees. Yes, a hard money loan will have fees attached to them, […]
With real estate investments, time is a critical factor. Lucrative properties are seemingly purchased the moment they are listed for sale. Because of this, hard money loans are a highly effective tool for real estate investors to use. How so? As we’ve mentioned in the past, there is little bureaucracy involved with hard […]
For owners of rental properties, one of the most important jobs you’ll be tasked with is finding the right person or company to take care of your property management. Essentially, property management is one of, if not the most crucial factor in determining whether your rental property achieves success. It is with a property management […]
Hard money loans are typically used for short term purposes, but there is also the option to consider something like a buy and hold loan. These loans involve a strategy where a foreclosed or undervalued property is purchased and held onto until its time to sell, generally once its value has appreciated. In the meantime, […]
One of the most effective remodels you can do to maximize ROI is the kitchen. Per Remodeling Magazine’s Cost vs. Value 2019 report, even a minor remodel is able to recoup about eighty percent of the cost.Kitchens are among the highest priorities when it comes to what buyers are looking for. Along with the bathroom, […]
Private or hard money lending is a great way for flippers and fixers who are dealing with short timelines or want to remain competitive with buyers offering cash. However, a private lender can also work for long term investments such as rental property rehabilitation prior to refinancing into a permanent mortgage. Private money loans can […]
We’ve previously mentioned some common myths associated with hard money lending, but there are more to discuss that first-time borrowers may believe. Keep reading to learn more about some of these hard money myths. Do borrowers have less control in regards to their property when they go with a hard money lender? No. If a […]
Conventional financing may be the go-to option, but there are certain situations where choosing private money lending makes more sense. Let’s explore a few of these. Cash needs. Investors that are interested in properties that may be in distress or foreclosure will have a greater bargaining edge if they have the flexibility to make an […]
Previously we took a closer look at bridge loans, another type of option available to those that are “in between” properties. If you’re on the fence about them, let’s explore a few reasons why they may work for your needs. Time is critical when it comes to deals. If a lender is taking its time […]