Phone: 240-436-2340
Maryland Hard Money Lenders. Private Loans in Maryland, Virginia & Washington, DC
Let’s not beat around the bush. The best source of real estate information is the Multiple Listing System (MLS). Fortunately for the licensed real estate agents and unfortunately for the real estate investors who are not licensed, only realtors have access to it. The good news is that today you have more information than ever floating around. It might be not as nuanced as MLS’s, however, if used correctly, it can help you determine your rehab’s after repair value without a realtor.
Gwynns Falls Pkwy, Baltimore, MD 21216 With questions, please call Melissa or Kyle at 240.436.2340.
Some starting capital is essential to qualify for a hard money loan. This is a topic that we discussed at length in our previous articles (see our blogs on Why No Money Down Hard Money Loans are a Pipe Dream and Why Private Mortgage Lenders Want You to Invest in Your Deal). The reason for it is simple: the lack of seed capital is the primary challenge for many new real estate investors. However, as with everything else, where there is a will there is a way.
Among the many benefits of working with a hard money lender like us is the flexibility of our underwriting. Our hard money loans are not credit score driven, and we don’t verify our borrowers’ income. When it comes to borrower’s contribution to the transaction, we accept a more diverse variety of sources than traditional lenders.
Archimedes famously proclaimed: “Give me a lever long enough and I shall move the world.” In finance, like in physics, leverage allows accomplishing incredible acts with only a fraction of the effort. We talked about our hard money loans and the leverage they provide in our previous blogs, but let me re-cap.
Hard money loans allow a real estate investor to effectively compete with cash offers while investing only a fraction of cash needed to purchase and rehab a property. Alternatively, hard money loans allow well-heeled investors who do have enough cash to buy a property outright to multiply their profits by investing in several properties at once. In their case, financial leverage that hard money loans provide allows them to operate on a large scale and make more money.
“I need a hard money loan for three months maximum,” I hear our potential borrowers say all the time. “I have the right partners, the right contractors and we will be moving fast.” “How many properties have your flipped in the last two years?” I always ask them. The answer is typically none.
This article is a continuation of our series on increasing your hard money rehab ROI. In the previous installment, we’ve discussed ways to strategically allocate your hard money rehab dollars to the areas that have the most impact on your sales price. Today, we will be tackling additional strategies. As a hard money lender, I’ve seen many of our experienced borrowers make their rehabs look more expensive than they actually are by getting the right materials and playing with modern design trends. Here are three best tricks of the trade to give you the bang for your rehab buck.
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New Funding Resources, LLC
806 West Diamond Ave.
Suite 340
Gaithersburg, Maryland 20878
Phone: 240-436-2340
All loans subject to our review of underwriting criteria and conditions. We reserve the right to approve or deny any loan application based on our sole discretion.
New Funding Resources 