Hard money lenders are different from traditional lenders such as banks and credit unions and look at very different criteria. Real estate investors need to know what these criteria are, so they can present themselves in the best potential light. This article explores five important aspects of hard money loan underwriting and gives practical advice on how to get pre-approved for a hard money loan before shopping for an investment property.
Hard money lenders like us come across many types of real estate investors. Some of them are doing it full time. They are heavy hitters that juggle multiple properties at the same time and need additional leverage. Others like the security of day-time jobs and flip houses on the side to supplement their income. Both can be very successful. However, regardless of the activity level, one thing is clear: those serious about running an efficient operation, building wealth and protecting themselves from risk are doing business as an LLC (Limited Liability Company).
In every war in history there have been spies who provided information that allowed one side or the other to win the war. Where can you find spies who can help you win the real estate war and conquer major profits? Hard money lenders like us run across a number of great ideas on a daily basis. Here are a few of them…
Gentrification might be a controversial and politically wrought term, but for real estate investors it spells an opportunity of a life time. Gentrification remains rare nationally, but we apparently live in its epicenter. In 2015 there was only one city in the whole US that was gentrifying faster than Washington, DC: Portland, OR. As one of the top hard money lenders serving Washington DC, we’ve seen our clients earn significant profits turning dilapidated properties into swanky homes for the upwardly mobile. Are you considering DC as your next investment project? Here are some data, resources and advice to get you started.
Finding a motivated seller is simply a matter of knowing where to look and keeping your eyes open. As a hard money lender with over ten years in business we’ve heard all kinds of reasons why sellers need to sell their home fast. Knowing the reason why a seller wants to sell can be a powerful bargaining chip when negotiating the deal. Read on how to spot and help those sellers and make money in process.
So you want to be a rehabber and make money by flipping homes? Before you start shopping for an investment property and rehab loans in DC, MD and VA, let’s talk about what it takes to be a real estate flipper. At New Funding Resources we believe that you will need at least five things to succeed in this arena: motivation, time, a good support system, money and experience.