Phone: 240-436-2340
Maryland Hard Money Lenders. Private Loans in Maryland, Virginia & Washington, DC
Real estate auctions can be goldmines for savvy investors, especially those hunting for undervalued properties in Maryland, Washington, DC, and Virginia. Whether you’re building a rental portfolio or chasing your next fix-and-flip, auctions offer unique opportunities to purchase properties below market value. However, not all auctions are the same. Let’s look at the main types of real estate auctions and what investors should know about each.
Private (or hard money) financing can be a powerful tool for real estate investors in Maryland, Washington, DC, and Virginia. It allows you to act quickly, leverage opportunities that traditional lenders shy away from, and fund projects that build long-term wealth.
But—like with any financial commitment—you may have some questions or concerns. Below, we’ll walk through the most common issues borrowers raise when working with private lenders, and how we at New Funding Resources address them.
Much of the advice on private money loans are focused on how to get qualified for them. While it’s certainly an essential topic, an equally important subject is how to ensure your success once you obtained that funding. So, how to work with private lenders to ensure your success? Let’s face it – your ultimate goal as an investor is to maximize your profits. Repaying your private money loan as quickly as possible is a necessary milestone in meeting such a goal. By moving through your rehab efficiently, you can save thousands of dollars. In contrast, every additional month your loan is outstanding will cost you a pretty penny in carrying costs such as interest payments, taxes, and insurance. If you fail to repay a loan within a term agreed (typically twelve months), you might also incur default fees and interest. All of them would take an additional chunk out of your profits.
Many of our previous blogs focused on things you should be doing to succeed as a real estate investor. For example, we shared our perspective as a private money lender on how to get real estate deals and how to build a real estate investing team that will propel you forward. We talked about what it takes to be a rehabber and what you need to do to minimize your risk. However, what’s equally important is to know what NOT to do in order to succeed.
This article is continuation of our series on finding profitable real estate deals. We’ve already discussed the REO route and its pros and cons. However, there is one type of REO that is quite different from the rest. In my experience as a private mortgage lender, this route offers unique opportunities for real estate investors. I am talking about HUD properties. Such opportunities don’t come often, but some of the most profitable rehabs we’ve seen came via HUD properties.
Many of our private rehab loan customers ask us to wish them good luck on their rehab investment, but real estate investment isn’t about luck. It’s about well thought out decisions based on good research. It’s about markets and timing. However, all of that aside, it’s mostly about YOU. As a football coach would tell their team during half time, “You gotta get your head in the game!” To make successful decisions, you have to have the right mindset. What is the right mindset you ask?
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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 