When you find lucrative investment opportunities, you need to move quickly to close the deal. Your ability to get funding quickly can make all the difference. Fortunes are made in real estate by investors who avoid time consuming processes and get to work to secure the funds they need.
If you are looking for fast funding for your real estate investment properties, it is extremely important that you have the right team on your side. Investors who achieve great success in their ventures are the ones that have access to knowledgeable and experienced professionals on their side as well as top notch industry resources. You need to be able to fund deals quickly when they show up. That’s where hard money loans can help.
What Is A Hard Money Loan?
Hard Money loan is a loan that is obtained from private individual or business for the purpose of investing in real estate. Hard money loans can be used to fix up the property and flip it for a huge profit.
Hard money loans are designed for short term situations, and many real estate investors have utilized this type of loan when they find themselves in tough situations and cannot get funding from a traditional lending institution.
Advantages of Hard money loans
Flexibility and speed usually come to mind when it comes to hard money loans, but there are many other advantages to real estate investors. Here are some of the benefits of using hard money loans to fund your real estate purchases:
Fast Loan Approvals
Applying for a hard money loan does not require a lot of paperwork and is a straightforward process. Unlike banks and other traditional lending institutions, all you need to do is to submit a standard loan application and have a discussion with the lender. In many cases, a real estate investor can receive an approval a few days after a conversation or consultation with a hard money lender, helping you to close on a property very quickly.
Compare this to the numerous pages a traditional lending institution requires you to fill out. After you submit the application to the bank or financial institution, it could be several weeks or longer until your application gets approved. The deal could be gone by the time you get a response.
Once you have been approved for the hard money loan, you can get the cash to fund your project within a few days. This can help you to take advantage of a fast-moving deal and grow your business. Reputable hard money lenders understand that you need to move fast and they make it a priority to provide the funding quickly.
Excellent Credit History Is Not Necessary
Credit rating and income history are not required when you are working with a hard money lender. Banks put too much emphasis on the borrower’s income and credit score when approving loans. If income history or credit score is outside the bank’s criteria, your loan request will most likely be turned down.
Hard money lenders don’t care about your credit worthiness or income history and mainly focus on the value of the asset you are using as collateral for the loan. The hard money lender also wants to know that your idea is available and will yield significant returns on investment.
Get Started Fast – Contact Us
Hard money loans have a lot to offer entrepreneurs and investors who cannot afford to miss out on deals due to slow financing. When time is of the essence, you need to act fast and get funding immediately. We can give you access to our pool of hard money, allowing you to close deals quickly and grow your business.
Get in touch with our experienced team to learn more about hard money loans and how we can help you to fund your investment properties and take your real estate investing business to the next level.