Don’t Wait Around: Start Making Money from Real Estate Investments Now
You don’t need to be a millionaire to start making money off real estate investments now. There is an easy way to get financing for your investment projects and it’s more common than you may think. Here are the answers to your real estate investing questions:
Do I need a lot of money to start investing?
It does take money to make money but it doesn’t have to be your money. There are ways to make money from real estate investments now without having a lot of money saved.
How do I get money for investments?
The answer is a hard money lender. A hard money loan is a short-term loan for individuals purchasing residential or commercial real estate.
What is a hard money loan?
Hard money loans are short-term loans for a real estate investment. These individual generally flip the properties in order to make a profit. Hard money loans are also available for land purchases. Because the hard money loan process is significantly shorter than that of a traditional loan, investors use hard money to begin your real estate investment quickly. Before you apply for a hard money loan, there are the hard money loan facts that you should consider.
How much money do I need?
When buying property, you need a down payment. The down payment is generally around 20 percent of the property’s price. However, percentages often vary.
Could a hard money loan help me invest in real estate?
Hard Money lenders really don’t look at credit like traditional lenders do but income can be crucial. Hard money lenders approve borrowers who have had foreclosures, bankruptcy, mortgage lates, collections, etc. Income will be verified through borrower’s bank statements. Though the loan is based on the value of the property that serves as collateral, hard money lenders still need to verify that the borrowers can make the payments before they can get any money.
What makes hard money loans so popular with real estate investors is that the hard money loan can be in the hands of the borrower in a matter of days. Hard money lenders can provide finances quickly because the loans are funded either with their own funds or by private investors. Considering there is less paperwork and red tape, the loan can be approved quickly.
Finding an alternative lender to handle these investments doesn’t have to be difficult. Get more answers to your hard money questions by contacting specialists at HML Investments.