Real estate investors know that buying property and fixing it up to flip or rent can be a capital-intensive process! Sometimes you just need more money to help you acquire a property or even to bridge you until you can sell it or rent it out. There are many ways to access capital but one of the most popular ways to access additional, fast capital is through hard money lenders. In this blog post, you’ll read about some of the advantages of hard money lenders in NC.
If You’re An Investor, There Are Many Advantages Of Hard Money Lenders In NC.
Hard money lenders give you more access to fast capital
It’s not always possible to do deals with your current capital or credit. At some point, we’ve almost certainly been near our limit. Hard money lenders give you more access to capital so you can acquire a deal or complete it. And in some instances, HMLs can fund a deal in as little as 24-48 hours! Whoosh!
Hard money lenders often have real estate investing experience
Hard money lenders may not be active real estate investors, but many of them got their starts that way. That means they will have looked at lots of real estate deals before yours and they can help you understand if your deal is suitable for a loan or not – which might be an excellent way to help you determine the quality of the investment you’re looking at.
Hard money lenders may not need your credit
If you’re a real estate investor with bad credit or no credit, that doesn’t have to be the end of the road. Many HMLs do not need you to have glowing credit to do a deal. The reason is because they are making a secured loan – one that is backed by the asset itself you’re putting money down on.
Hard money lenders are a financial “tool” in your toolbox
As a real estate investor, you’ll tie up your capital and sweat equity into a deal. And if you can’t complete that deal (because you can’t fully acquire it or you can’t get it up to a level of repair for rental or resale) then the deal will stall. A hard money loan can ease that situation and get the deal moving forward so you can complete it. Hard money lenders are not your only source of capital but they can help – that’s one of the advantages of hard money lenders in NC.
Hard money lenders in NC are familiar with state laws
You can rely on hard money lenders in NC to be familiar with the lending and investing laws of NC. That is valuable knowledge to be able to count on, and it’s one reason why hard money lenders can be a better capital source than other less formal capital sources.
Hard money lenders help you to do more deals
Perhaps one of the best advantages of hard money lenders in NC is that you can do more deals. A hard money lender will get you the capital you need to move forward to complete the deal, to earn more money so you can do another deal. Using the money and profit from your previous deal, and perhaps another loan from a hard money lender, you can do even more deals or even bigger deals or even faster deals or even more profitable deals… all because of the hard money.
If you’re a real estate investor looking for more deals or to fund deals the great deals you’re coming across, a hard money loan might be the right choice for you. We’ve got some outstanding relationships with lenders who can help you move your business to the next level. There are many advantages of hard money lenders in NC so find out more about how a vetted hard money lender can help.