A Washington State Hard Money Loan Can Be Your “In” to Real Estate
Home values continue to rise across the U.S. and are expected to hold steady. With the right property purchase and a long-term strategy, real estate remains a worthwhile investment in today’s economy.
Breaking into real estate investing for the first time can be intimidating. Building a skilled, knowledgeable team to support you in your investment venture takes time. Having the proper financial backing is even more critical.
Financing can be a complex balancing act. Many real estate investors go to conventional lenders for funding. Some have savings for investment purposes, some draw from family sources, some sell existing property as leverage.
If none of these financial resources are available to you, however, don’t give up. Not every investor has money in their back pocket or a perfect credit score. Whether you’re interested in fix and flips or rental properties, there are other funding options that can help make your investment goals a reality, even if you’re new to the scene.
Why Hard Money Lenders Are a Smart Financing Option
Hard money lenders (also known as private money lenders) base loan decisions on available equity rather than a borrower’s credit or income. Since loans are asset-based, recent issues like bankruptcies, foreclosures or short-sales aren’t of concern.
If you have sufficient equity and a reasonable plan to repay a hard money loan, you will be approved without the lengthy approval process required by traditional lenders. Interest rates for a hard money loan are generally higher due to the ease and speed of processing. But when you’re looking for kick starter funds or when time sensitive financing is of concern, a hard money loan can often make sense.
The reliability and ease of a hard money real estate loan lends strength to an investor in negotiating sale price and closing property deals. Sellers looking for a quick, no hassle sale are inclined to work with a purchaser who has ready funds.
Hard money lenders tend to be not only flexible and provide easy financing, but will provide honest assessment of a borrower’s potential loan scenario. Reliable, experienced lenders like Gregory M. Russell will work with you as a partner and fund opportunities that are win win for you both.
We Lend to Investors in Washington
If you’re an investor in Washington State real estate, you know how competitive the market is. If you’re looking for financial assistance to give you that extra edge, our private money lending team will be happy to help. Give us a call at 1-888-477-0444 to learn more about our easy hard money loan process.