Understanding Hard Money Lenders: Hard Money Loans for Real Estate Investors
Hard Money Lenders: Hard Money Loans for Real Estate Investors. When you purchase a house to fix and flip what many investors often do is consider getting a hard money loan.
These types of loans are considered non- qualifying loans because you as the investor are not the most important factor in obtaining a loan like this.
It’s is the property you are acquiring that is the most important factor. These loans can be quite expensive. They can range anywhere from a 10% to 15% interest rate and have an origination free of between 3% to 5%.
The biggest mistake in obtaining a hard money loan is not the loan itself it’s the lack of understanding your numbers. Just because the spread in your profit looks great doesn’t mean you’re going to make a nice profit.
In this video I explain the importance of bringing in a seasoned investor with experience as well as hiring trustworthy contractors and rehabbers that can hurt you in the end
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More about homes in the Palm Beaches, Jupiter and Palm Beach Gardens at:
Palm Beach Gardens real estate: – http://www.jeffrealty.com/palm-beach-gardens-homes
Jupiter FL home and real estate sales: – http://www.jeffrealty.com/jupiter-homes
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