Starting out in the real estate investment profession can be difficult if you don’t have easy access to fast hard money for purchasing property when you are ready to buy. There is good money in buying property, fixing it up to increase the value and reselling it at a substantial profit. To do this you have to have the money on hand when you see the deal or someone will beat you to it. That is where getting your hands on funding quickly is necessary. Did you know that you can get fast hard money through a lender specializing in approving a hard money rehab loan?
Real estate can be a prime investment these days. There are excellent properties in need of a little work that are selling for far less than appraised value. If you have tried getting funding quickly through a bank or other financial institution, you have come to know this can be like pulling teeth. By working with a lender you open the doors to the opportunity of getting approved for a hard money rehab loan using this painless approach.
Fast hard money lenders are looking for quick deals that are profitable. This makes them more receptive to the plans and ideas presented to them. Once you have provided an application and enough detail about the property that can justify that once you rehabilitate it, and showing a favorable ROI, you have done the bulk of the work that it takes to qualify. Another benefit is the lender will examine the property value and not your credit, making their course of action quicker and smoother.
Submitting an application for a hard money rehab loan is a fairly straightforward process and can be done on the internet. The information you will need to have for a advantageous approval is the current market value of the property, the market value in the property’s improved condition, and whether there is outstanding debt owed on the property. Most importantly, you need to be able to articulate well your ability to successfully repay the loan.
The uniqueness of a hard money rehab loan is lenders and investors will allow you to pre-qualify for funding. This not only makes it easier for you to have the fast hard money on hand when you need it, the process is quick and it allows you to start your project without unnecessary delays.