Blogging About Residential and Commercial Property Loans in Southern California
If you are looking to take out a hard money loan, it is important that you do the proper research before choosing a private hard money lender. While hard money loans can be expensive, considering they have lower loan-to-value ratios and high interest rates -- potentially 12% or higher -- they can be considerably helpful in securing real estate deals. But before you sign on the dotted line, here are some questions to ask those potential hard money lenders.
Finding the right mortgage can be an extremely draining task if you don't know all the facts up front. Should you opt for a mortgage loan, whether a private loan or backed by a bank, there are some common misconceptions that add to the confusion. Not knowing the full spectrum of your loan can mean failing to make payments and getting into debt. According to the Federal Reserve, consumer debt in the U.S. reached almost $3.4 trillion in May 2015 and continues to increase. Don't become a statistic, if you know the truth behind these three myths walking in, then you'll be ready to go.
It's no secret that hard money loans are a viable options for those in need of quick cash. A typical bank loan borrower looking to take out a business loan has to be two years in business, have at least $250,000 of annual revenue, have good personal and business credit, and be cash flow positive. Still, hard money loans are incredibly versatile in a variety of situations. But before you commit to a hard money loan, it's important to be aware of these common mistakes.
Flipping houses has become more and more popular as the years go on, and not just because of reality TV. Not only is it a great way to make a few hundred thousand extra dollars, it's also a great way to let out your inner creativity. While it is such a great thing to get involved with, it isn't always easy to get started.
Flipping houses may be more challenging than you actually think. In order to begin the process, you have to have some cash to fund the project. Not many people have thousands of dollars just laying around, so you're going to need to borrow the money from somewhere. Here are some of the best ways to get money for your home flipping project.
In our last post, we discussed some frequently asked questions concerning hard money lenders and loans. Here, we finish the list to offer you as much information about the hard money loan process as possible!
House flipping is becoming extremely popular as it can help you create an income while giving someone else the home of their dreams. House flipping is on TV all the time with a growing number of house flipping-themed shows on the daily reality lineup.
Hard money loans are often misunderstood by people who have never really used them before, and as a result there are a lot of myths floating around on the subject. The truth is that hard money loans are actually quite common and, if you know how to use them, very effective.
Buying real estate property may not always be easy. If you find yourself looking to purchase property, but don't have the money to do so, many people often turn to hard money loans for assistance.
Financing a house flipping project can be tricky, at best. If a structured bank loan won't work for you, what will? The answer is private hard money lenders. Here's what you need to know.
Hard money loans are typically associated with receiving fast investment capital. Hard money deals are often sought after for their quick turnaround (usually within 7-14 days to process), but beyond that, many people are surprisingly uninformed of what the process actually entails. If you're considering working with private money lenders, it's important to know the facts. Here are just a few key facts to understand when considering getting a hard money loan.
If you are interested in flipping and developing houses, hard money loans may be for you. These private money loans are great for those that may not have the capital needed to complete the project, for any reason. The world of hard money is incredibly vast, and there are some things that you should know before you sign on the dotted line.
So we have created a simple guide to help anyone understand how hard money loans and real estate investment work together.
When using a hard money lending service or taking out a loan, it’s crucial that you understand how the entire process works. Taking out a loan isn’t as simple as just asking someone for money and taking it. There is so much more than goes into the process.