When it comes to real estate investing, having access to capital is essential. However, traditional lending institutions like banks may not always be the best option. This is where hard money lenders come in. Hard money lenders are private individuals or companies that provide short-term loans for investment properties. In this blog post, we’ll discuss the top four benefits of working with a hard money lender.
Fast and Easy Funding Process
Hard money lenders provide a quick and easy funding process. They do not have to adhere to the same strict regulations and guidelines as traditional lenders. This allows borrowers to access funds much quicker and with fewer hurdles to jump over. In most cases, you can receive funds within a matter of days, as opposed to waiting weeks or months with a bank loan.
Flexibility & Ease
Hard money lenders offer flexibility in their loan terms. They work with borrowers to customize a loan that fits their unique needs. This is a big advantage for real estate investors who often encounter complex and unconventional investment opportunities. As a result, you can gain access to funding for investment properties that may not meet the strict criteria of banks and other traditional lenders.
Asset-Based Loans
Hard money lenders provide asset-based loans. This means that they analyze the value of the collateral property when considering a loan application, rather than focusing purely on the borrower’s credit score and financial history. This makes it easier for borrowers with bad credit or a short financial track record to secure a loan. This also allows people to get into the real estate game without a large amount of money saved up.
Support Throughout the Process
Working with a hard money lender means having a partner in your real estate investment journey. They offer support throughout the loan process, including providing referrals for contractors, inspectors, and other real estate professionals. They play a valuable role in assisting borrowers in making sound investment decisions and protecting their investments. A good hard money lender wants to see you succeed just like they would their own project. Make sure you work with a team that is invested in your success and isn’t just giving you money and wishing you luck.
In conclusion, hard money lenders offer a variety of benefits to real estate investors, including fast and easy funding, flexibility in loan terms, asset-based loans, and support throughout the process. These benefits make hard money lending a great option for investors who need quick access to capital and require flexibility in their loan terms. By working with a hard money lender, you are setting yourself up for success in your real estate investment ventures.
FlipCo Financial is your best choice for a high quality hard money lender. We offer various types of hard money loans to get you started on your real estate journey. We work with new and experienced investors to ensure quick funding and project success. Contact our office or submit a free quote form on our website.