Hard money loans remain a great choice for real estate investors that want to take advantage of the many benefits associated with “fix and flip” properties. The money can be obtained quickly and the loans can be paid back in months versus years. How do you find these lucrative properties? It’s easier than you may think.
A simple way to find prospective fix and flip investments is by checking out the auctions. These homes typically require a significant amount of work which means they are relatively cheap to purchase and build equity in so you can gain a significant profit. Do keep in mind that competition can become fierce so don’t go overboard. Also, you may not be able to see the property before buying it, so tread carefully.
Many investors may find that simply knocking on the door can yield positive results. It’s a personal approach and if you’re genuine, a homeowner may develop trust in you, resulting in a potentially fruitful business relationship. However, this tried and true approach won’t work for everyone. You’ll find rejection is extremely common and many homeowners aren’t cool with being possibly solicited, especially if the home they own is facing foreclosure.
This update is by hard money lenders Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on hard money lenders FL or hard money loans Miami, please call 954-816-0388 or fill out our application.