10 09, 2019

Are You Going to Be a Good Investor?

By |2019-09-04T18:54:18-04:00September 10th, 2019|Categories: Hard Money|0 Comments

If you're thinking about becoming a real estate investor, there are a few questions you need to ask yourself before you dive in with both feet. That way, you'll know if you'll be a good investor. Are You Going to Be a Good Investor? Ask yourself: Am I willing to take risks? Can I evaluate my options and make decisions quickly? How well do I operate under pressure? Do I tend to learn from my mistakes? Here's a closer look at each of these. #1. Am I willing to take risks? Real estate involves a certain amount of risk. Sometimes

7 09, 2019

Do You Need Documentation to Get a Hard Money Loan?

By |2019-09-04T18:48:34-04:00September 7th, 2019|Categories: Hard Money|0 Comments

If you're like many investors who have never used a hard money loan before, you probably have a lot of questions. One of them might be whether you need documentation to get a hard money loan. Here's what you need to know. Do You Need Documentation to Get a Hard Money Loan? When you take out a hard money loan, you will need some documentation - but usually, it's nothing like the stacks of documents you would need for a conventional loan. With a conventional loan, you'll need to provide your lender with: Tax returns Pay stubs W-2s Proof of

4 09, 2019

Do You Have to Have Good Credit to Get a Hard Money Loan?

By |2019-09-04T18:42:52-04:00September 4th, 2019|Categories: Hard Money|0 Comments

If you're an investor - or anyone else - who's thinking about borrowing from a hard money lender, you're probably wondering if you have to have good credit to get a hard money loan. Here's what you need to know. Do You Have to Have Good Credit to Get a Hard Money Loan? Hard money loans are for people who want fast approval on a house's after-repaired value, or ARV. And you might be surprised to learn that you don't have to have stellar credit to get a hard money loan. The bottom line is that hard money lenders are

1 09, 2019

Do Hard Money Loans Have High Interest Rates?

By |2019-09-04T18:37:33-04:00September 1st, 2019|Categories: Hard Money|0 Comments

If you're like many people, you've heard that hard money loans come with a hefty price tag - and that might include high interest rates. But do hard money loans really come with high interest rates? Here's what you need to know. Do Hard Money Loans Have High Interest Rates? Hard money lenders are very competitive with their rates. The average hard money loan has an interest rate between 7 (which isn't much higher than a conventional loan's interest rate would be) and 15 percent. However, here's what to keep in mind: Hard money loans are very short-term when compared

28 08, 2019

Do You Need Good Credit to Get a Hard Money Loan?

By |2019-09-04T17:23:19-04:00August 28th, 2019|Categories: Hard Money|0 Comments

If you're an investor - or anyone else - who's considering a hard money loan, you're probably wondering if you need good credit to get one. Here's what you need to know. Do You Need Good Credit to Get a Hard Money Loan? A lot of people think that hard money loans are mostly for people who have bad credit - but that's not true. A lot of people, including investors with sterling credit, use hard money loans to get fast financing. You don't necessarily need fabulous credit, either. Hard money lenders are asset-based lenders, which means credit doesn't matter

24 08, 2019

Common Hard Money Loan Myths

By |2019-09-04T17:18:51-04:00August 24th, 2019|Categories: Hard Money|0 Comments

If you've never used a hard money loan before, you might still have heard some of the most common myths about this type of financing. We're here to clear those up. Common Hard Money Loan Myths Hard money is for people with poor credit Hard money loans have high interest rates Anyone can get approved for hard money Let's take a closer look at each of these hard money loan myths. #1. Hard money is for people with poor credit Hard money loans are for people who need quick approval - especially investors - so they can pounce on a

21 08, 2019

Sell vs. Rent: What’s the Right Investment Strategy for You?

By |2019-09-04T17:14:59-04:00August 21st, 2019|Categories: Investments, REIs|0 Comments

When you're buying an investment property, you'll have to decide whether you want it to be a short-term or long-term investment. Should you sell it when you're done fixing it up, or should you rent it to a tenant who will take care of it and bring you a steady stream of income? Here's how to decide. Sell vs. Rent: What's the Right Investment Strategy for You? Selling the house means you get an infusion of cash in profits, which you may need to use for your next investment. However, renting it out can bring in a steady stream of

16 08, 2019

New REIs: 3 Mistakes You Don’t Want to Make

By |2019-09-04T17:14:32-04:00August 16th, 2019|Categories: Investing, Investment Properties, REIs, Tips|0 Comments

If you're new at real estate investing, check out these three mistakes you just can't afford to make. New REIs: 3 Mistakes You Don't Want to Make Thinking it's easy Waiting for traditional financing Chasing too many bargains Let's take a closer look at each. #1. Thinking it's easy House flipping isn't an easy job. It requires just as much knowledge and hard work as investing in other areas - like the stock market. And while it looks easy on TV, there's a lot that ends up on the cut floor. You can't really just scoop up a property, make

13 08, 2019

3 Little Quirks That Could Prevent Your Flip From Selling

By |2019-09-04T17:14:16-04:00August 13th, 2019|Categories: Flipping, How To, Tips|Tags: , , , , , |0 Comments

When you secure a hard money loan to buy a house and flip it, you're counting on being able to sell it - but what if it has one of these three issues? 3 Little Quirks That Could Prevent Your Flip From Selling When you're selling a house - even if you've put a ton of work into it and you feel like it's move-in ready - there are three things that could discourage buyers from making an offer: A front door that sticks Noisy plumbing Squeaky floors Let's have a closer look at each. House Quirk #1: A front

10 08, 2019

Who Appraises a Property When You Get a Hard Money Loan?

By |2019-09-04T17:13:54-04:00August 10th, 2019|Categories: Hard Money|0 Comments

Obtaining a hard money loan for the purchase of a property usually comes with the contingency of getting an appraisal. Most lenders will not complete the process without one. A loan from a private lender differs from a direct loan from a bank loan. Private lenders may have a licensed professional on staff that conducts their appraisals or you can recruit one on your own. They want confirmation that their investment of up to 65% of the property's after-repair value (ARV) is secure. What an Appraisal Consists Of Market comparisons of similar properties The state the property is in The