Things to consider when comparing lenders After you’ve looked at…
Riverside Fix and Flip Loans
We’ve all seen the wildly popular television shows where seeming novices purchase run down houses, fix them, and then flip them for an outrageously high profit. It’s a pipe dream for most people, but there are those well-read folks of the world who are doing this for a living and loving it. For millions of Americans, it’s a way to make extra cash a few times or it’s a way of life. It all depends on how big and how far your vision runs into the future. One thing is for sure, though, if you want to perform fix and flip investments, your’e going to need a lender behind you that knows what they’re doing.
Fixing a house that’s been sitting vacant for years, or that had structural problems, or that has plumbing problems, isn’t a piece of cake. You need a lot of knowledge and a lot of passion for what you’re doing. And the loan that you take out needs to be plentiful enough to reflect that passion you have for what you’re doing. Delancey Street is one lender that believes in the pursuit of fix and flip opportunities. We’ve seen them work too many times to ignore the results.
Hard Money Lender
A hard money lender differs from a traditional bank lender. When a bank lends you money, they do so based on your credit score and your income. Sure, they’re going to take a look at your project planning, too, but what they want to know most of all is that you have the credit and money yourself to back up the loan. A hard money lender who funds fix and flip projects differs in a very distinct way. Lenders like Delancey Street lend to you based on your idea. That’s it. Do you have an idea that could make a lot of money one day? Then you’re going to need a hard money loan.
A hard money loan is based on a piece of property or asset. In this case, your hard money loan will go through based on the house that you’re going to flip. How much do you think you can make it worth in the end? If the lender believes in your project and feels like it will be worth X amount of dollars down the road, they’re going to fund your loan today and then take a percentage of the profits later on. This is often the only way that someone with limited credit and income can get a large loan they need to take on a fix and flip project in Riverside.
Riverside Fix and Flip
Riverside is a tremendous real estate investment market, and we believe in the people of this area strongly. If you have a vision of buying a house here and flipping it for profit, we’re happy to take a look at your ideas. We’ll need to see a few things during the application process that show us you’ll be able to make a profit from your flip later on. After all, if you’ve just fixed, you’ve done nothing but spend money. It’s the flip at the end that will ensure us we’ll get our investment back plus some. Your success depends on us, and our success depends on you, and we take this unique partnership very seriously from the beginning of our project together to the end. We want your house to make big bucks when you flip it. And we want to share in that success.
If you’ve been turned down by other hard money lenders, or other lenders in general, it might be time to give Delancey Street a call today. Our staff is passionate about their work and is all in when it comes to fix and flip investment. We listen to people who are just as passionate about this money making opportunity as we are. If you’ve got a house in mind or if you’d like to share your expertise with us and let us know any other idea you have, we’re here to help all kinds of startups reach for the stars. In the fiercely competitive real estate market, it can be difficult to get a loan. So many other people are competing for money, and your project might get lost in the shuffle. Don’t let that happen.
When you call the professionals at Delancey Street, we’re not just going to fund your project. We’ll be able to bring our own experience in this area to your aid and help you make the greatest flip of a lifetime. We can only help if you call, though. We’re always standing by ready to listen to the next great business idea out there. Write to us or call us today to get started.