When looking for real estate properties to invest in, especially when the goal is to renovate and then resell the home quickly, means you are likely looking for a source of money to help make that happen. Whether the homes you are looking at are in Boca Raton, Coral Springs, Deerfield Beach, Fort Lauderdale, North Miami, Pompano Beach, or the surrounding areas, you can get the house flipping loan you need by contacting Graceful-Lending. Getting properties back into shape is an important function to keep properties from languishing, and Graceful-Lending wants to help make that happen with you.
What Are House Flipping Loans?
House flipping loans, which are meant for rehabbing projects, are usually issued from private lenders such as Graceful-Lending. Where traditional home mortgages are for much longer times, such as up to 30 years, house flipping loans are for much shorter terms, usually around 6 months in length. This is actually really good for the short-term nature of rehabbing homes and selling them.
Why Use House Money Loans for Flipping?
House flipping loans are quite useful when you are wanting to scale your investment properties. These loans allow for you to invest a minimal amount of money in the project, but that doesn’t mean that the project of flipping a home is easy. You still need to run the calculations about what the purchase price is, how much the renovations will cost, and what you think you will be able to sell the home for after the renovations are complete.
Another advantage of house flipping loans is that they have a much faster closing period when compared against banks or credit unions. Where some places can take weeks, hard money loans take mere days. This is part of the fast nature of fixing and flipping houses, and being able to close quickly allows the rehabber to move on to another project. When first starting out, hard loan lenders are a great way to provide some additional experience to the project regarding the financial position. Once you become experienced, it is possible to have multiple projects going on in Boca Raton, Coral Springs, Deerfield Beach, Fort Lauderdale, North Miami, Pompano Beach, or the surrounding areas, all using hard money loans. Give a call to Graceful-Lending today to learn more.