Are you eyeing a property to potentially fix and flip or rent out? If so, you probably have a solid understanding of what repairs may be required. Have you given sufficient thought to how you’re going to fund it all? A hard money lender is one of your best bets, and here’s why.
For starters, obtaining financing within a reasonable timeframe is a process that’s easier said than done. In most cases, rehab properties won’t work as collateral because of the shape they may be in, which will significantly affect your eligibility. Hard money lenders are experts in real estate, understanding all of the minutiae behind a fix and flip so you can receive the money necessary to purchase the property and make the repairs.
There’s a multitude of reasons why people seek fixer-upper properties. Some choose to make the repairs and sell the property while landlords may find something that requires some work, improve it, and then rent it out. As people are always looking for somewhere to live and would rather not spend a great deal of money to do it, they are often willing to put some work in. With so many people seeking these properties, good deals will disappear quickly. A hard money lender can get you the money you need in days or weeks versus months.
This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M&M Private Lending Group, LLC. We have over three decades of experience specializing in private money real estate loans and we pride ourselves on providing our esteemed clients a service that’s personalized while delivering low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at http://www.mmprivatelending.com to fill out an application form.