Hard money loans are a convenient method for investors to work with lenders to purchase property, especially property that will be flipped or developed for sale as a short-term profit enterprise. Hard money lenders are looking to work with investors in a partnership that allows investors the funds to repair existing buildings or commercial constructions for their resale potential.
There are lenders who will consider providing loans based on the after-repaired value, or ARV.
To take the ARV into consideration requires an appraisal of value before specific repairs or changes planned for the property take place. Usually, an ARV appraisal will consider roofing replacements, foundation repairs, and essential internal appliance upgrades such as central air conditioning, plumbing, and a whole lot more. If specific designs for repair and upgrade of structures are available, the appraiser can include those plans in the appraisal as well.
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.