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Why You Need a Realtor® to Sell Your Flip

 

Before you buy an investment property, you need to think ahead–especially about hiring a Realtor® when it’s time to sell.

While it may be tempting to just put up a sign outside and a posting online, there are a few reasons why you need to hire an expert in the field.

First, Realtors are trained in real estate procedures and protocol. While DIY real estate forms and kits are available, most aren’t specifically written for Georgia… or any special situations that may arise. Bringing a Realtor on board will help ensure a smooth transaction.

A Realtor can also help you sell quickly and at the right price. Your agent will know how to make the property as attractive as possible to prospective buyers, and he or she will be able to effectively market it for you.

Working with an agent is a lot like hiring the right help around the house, too. You wouldn’t tackle the plumbing yourself or start rewiring the electrical system unless you knew exactly what you were doing, right? The same goes for selling the house.
Do You Need a Hard Money Loan to Buy an Investment Property in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.

Read our frequently asked questions and take a few minutes to learn about the hard money loan process.

Who Can Apply for a Hard Money Loan?

 

When setting out to buy a piece of property, whether commercial or residential, one of the most important steps in the process is to acquire a loan. While there are many different types of loans to choose from, a hard money loan is one that has several distinct advantages and that therefore is worth considering. This is particularly true for individuals who are interested in acquiring their loan money quickly or those who do not have a good enough credit score to secure a traditional loan.

In a hard money loan, credit score is not as big a factor as it is with a conventional loan. That’s because the lender uses collateral, not credit, against the loan. In most cases, the collateral is simply the piece of property that the borrower is seeking to obtain. Typically, the lender will loan somewhere between sixty to seventy percent of the value of the property, and the borrower is responsible for supplying the other thirty to forty percent as a down payment on his or her purchase. In cases where the buyer does not have this amount of cash to make a down payment, the lender will place a lien on another property owned by the borrower as an additional form of collateral.

Hard money loans are also commonly used when the individuals purchasing a piece of property are doing so with the intention of flipping it. In these cases, having quick access to cash allows the buyer to get started on their work of flipping more quickly, and thus cuts back on the amount of time they invest in the property. In a world where time is money, taking on the higher interest rate involved in a hard […]

How Do Hard Money Lenders Work?

Hard money lenders take a different route when lending than traditional lenders do – and that can be very beneficial to real estate investors.
How Do Hard Money Lenders Work?
Hard money lenders typically lend based on collateral, so they’re less inclined to worry about the lender’s ability to repay the loan than a conventional lender would be. The value of the collateral often outweighs the borrower’s financial position.

Conventional lenders show extreme interest in credit scores and income, whereas those things aren’t as important when you’re taking out a hard money loan (they’re still important, but they’re not always “deal-breakers”). A solid borrowing history and proof of an ability to repay the loan can be enough to give you the green light. For many people, the traditional loan process can be slow (even with ample income and favorable credit scores). A negative item on a credit report can delay, or even prevent, the borrower from getting approved.

The borrower can expect a hard money loan to be short-term; the maximum term is usually around 5 years. Interest rates for hard money loans may also be a little higher than traditional loans. However, hard money loans do come with benefits.

Speed of Lending – Borrowers can expect the lenders to close quicker. Hard money lenders can close deals that other lenders cannot.
Flexibility – Borrowers are not subject to a traditional underwriting process. Hard money lenders evaluate each deal separately.
Loan Approval – For hard money lenders, one of the most important factors is the borrower’s collateral. The lender can lend as much money as the collateral is worth.

Do You Need a Hard Money Loan to Buy an Investment Property in Atlanta?
If you’re looking for a hard money […]