| |
texas: 4 Things to Consider Before You Take Out Texas Rental Property Loans
- 02/19/19 09:06 AM
If you’d like to work from home or generate a solid side income, Texas Rental Property Loans can be the vehicle that gets you there. Take time to consider the options, so you can choose the wealth-building strategy that’s right for you.
1. Do you want long-term renters or short-term renters? There are pros and cons to both. With long-term renters, chances are you’ll earn less money. However, if you do short-term rentals, such as Airbnb or HomeAway, you’ll have to have a plan in place for getting the property ready for each renter.
2. How much work are you prepared to do … (0 comments)
|
texas: Top 3 Mistakes Newcomers to Texas Fix and Flip Loans Make
- 02/19/19 09:01 AM
Home rehabbers are always on tight schedules, but when you leverage Texas Fix and Flip Loans as opposed to self-financing, it’s that much more important to keep your project on track. Become familiar with the top three mistakes newcomers make in order to ensure a smooth and profitable exit.
1. Not padding the timeline. The work of various professionals assisting you are often dependent on the others staying on track. For example, your drywaller may not be able to take over until your electrician is done or your cabinet installer may not be able to work until the tiler has finished. … (1 comments)
|
texas: Try These 4 Tactics to Get 90% Texas Hard Money Loans
- 02/19/19 08:55 AM
Most lenders offer 50-60% LTV (loan-to-value) as a standard. However, you can get 90% Texas Hard Money Loans if you know what lenders are looking for and adjust your strategy to suit.
1. Bring on a partner with experience. There’s a fairly large learning curve when it comes to real estate investments. Particularly as things stand now, with the markets leveling out or only climbing slowly, the success of any given project depends largely on the skill of those involved. If you don’t have experience or are weak in one or more areas of fix-and-flips, bringing on a partner who is strong … (1 comments)
|
texas: 3 Exit Strategies Residential Texas Hard Money Lenders Will Approve
- 02/19/19 08:50 AM
When you approach residential Hard Money Lenders in Texas for funding, you’ll need to explain your exit strategy. Develop a plan around one of the three common exit strategies to keep your application moving forward.
There are quite a few contrasts between working with residential Hard Money Lenders in Texas and taking out a conventional loan. One key difference is that the principal is typically due in one lump sum at the end of the term. Although you’ll still make monthly payments, they’ll be smaller and will be interest only. Because of this, you’ll need to map out in advance how you … (0 comments)
|
texas: Top 4 Pitfalls of Owner Occupied Texas Hard Money Loans
- 02/19/19 08:45 AM
True owner occupied Hard Money Loans in Texas are relatively unheard of in the industry. If you’re looking for one of your own, it’s important to become familiar with some of the drawbacks before you commit.
1. You, personally, must live on the property. Many people seek out owner occupied Hard Money Loans in Texas in the hopes of getting a better deal on financing, simply because most “owner occupied” lending options do have better terms. The logic behind this is simple: people will fight tooth and nail to keep their home. There’s less risk for a lender, so the lender … (0 comments)
|
texas: How to Use a Cash-Out Texas Bridge Loan to Grow Your Portfolio
- 02/19/19 08:39 AM
A strong real estate investment portfolio can pave the way to a comfortable lifestyle, but sometimes plans stall out due to lack of capital for the next purchase. A cash-out Texas Bridge Loan can be the tool that gets your plans back on track.
Developing a real estate portfolio, as opposed to focusing purely on fix-and-flips, can give you a steady stream of reliable income. The difference is, with fix-and-flips, you get a sizable amount of cash at the end of the deal, which you can then turn around and apply to your next property. When your funds are tied up in … (1 comments)
|
texas: Can You Really Be Mortgage-Free with Texas Private Money Lenders?
- 02/19/19 08:33 AM
The mortgage-free lifestyle is the stuff dreams are made of, but many people believe it’s not within reach. There are actually many ways to accomplish this, and Texas Private Money Lenders can help set you on the path to financial freedom.
Data from Forbes Magazine concludes the average person is now leaving school with close to $40,000 in debt and one-in-ten with student debts is in default. On the other side of things, Value Penguin places the average amount of credit card debt at over $9,000 for balance-carrying households, while CNBC concludes nearly three-quarters are in debt and the majority believe … (0 comments)
|
texas: Why Smart Texas Private Money Lenders Insist on Title Insurance
- 02/19/19 08:28 AM
Most Texas Private Money Lenders require title insurance in order to fund a deal. Although there’s some debate on the merit of this practice, it’s essential because it protects both you and the lender.
Although land and property transactions began occurring in the United States for almost all recorded history, the concept of title insurance is relatively new. Initial transactions were simple for obvious reasons. There was virtually no chance anyone else could lay claim to a property because so little of the country had been settled.
Because of this, the conveyancer system was used. Conveyancers worked similarly to title insurance companies … (0 comments)
|
texas: Top 4 Tips to Get Your Texas Hard Money Loans to Close Faster
- 02/19/19 08:23 AM
One of the biggest benefits to using Texas Hard Money Loans is that they can get cash in your hands quickly. To keep the process moving smoothly, come to the table prepared.
1. Establish a main point of contact. Most lenders will pair you up with someone, be it an account manager, broker, or assistant. It’s important to develop a relationship with this person and ensure the lines of communication are open, so they can follow up with you as needed and keep you informed of the progress. If you aren’t given a main point of contact, find out who you … (0 comments)
|
texas: How to Spot Scam Texas Hard Money Lenders
- 02/19/19 08:11 AM
If you’ve worked with Texas Hard Money Lenders before, you know how they operate, but if you’re applying for a loan the first time, it can be difficult to know what to expect. Arm yourself with the information you need to spot a bad deal, so you can have a successful venture.
Outright scams are incredibly rare when it comes to Texas Hard Money Lenders. The only news-worthy case in recent history involves investors who believed they were funding deals and unfortunately lost $1.2 billion, according to a Mortgage Professional America report. On the borrower side of things, similar events are … (1 comments)
|
texas: How to Get the Real Deal with 100% Texas Fix and Flip Loans
- 02/15/19 10:27 AM
Getting 100 percent Texas Hard Money Loans for flips might seem as difficult as catching a unicorn, but in reality it isn't. Getting such a deal just requires a little out of the box thinking and some negotiation on your part.
If a lender is offering 100 percent financing, you have to ask, 100 percent financing for what? Few if any lenders want to take on 100 percent of the risk by offering a true no money down deals up front. They will either fully cover the cost of purchasing a property, or rehabbing it, but not both.
You want both these costs … (1 comments)
|
texas: Texas Fix and Flip Loans: How Much Should You Spend On Rehab?
- 02/15/19 10:21 AM
With Texas Fix and Flip Loans, you might wonder just how much you need to spend on rehab. Should you spend a lot or a little? What’s the right balance?
Let us consider the following story, of 3 flippers in one neighborhood, to answer that question.
When it comes to Texas Fix and Flip Loans and rehab budgets, should you go overboard, or should you skimp out to make more money?Our first flipper in this story has plenty of savings on hand to spend a boatload on repairs. She knows there's a bunch of cash-rich yuppies moving into the area, and given the … (0 comments)
|
texas: Texas Hard Money Loans and How to Use Them
- 02/15/19 10:14 AM
If you want to get into investing in real estate, bank after bank might deny your application and Texas Hard Money Loans might be your only option, but what's the best way to use these loans?
Hard money is asset-based rather than credit based so it is easier to qualify for, especially for first-time investors who might be in tricky financial situations.
That doesn't mean hard money is cheap. Usually, these loans entail a double-digit interest rate, so you should pay them back quickly. Now think, what type of real-estate investment involves a quick turnaround?
You guessed it, house flips.
Advantages and disadvantages of using … (0 comments)
|
texas: Soft vs. Texas Hard Money Loans: Finding The Help That's Right For You
- 02/15/19 10:07 AM
How should you go about financing real estate? Money is money after all, but there are different types of money. Whether you are a first-time real-estate investor or a long time player, what is the right source of money, and what’s the difference between soft money loans and Texas Hard Money Loans?
Hard money is secured, by hard assets that you can touch and feel, like real-estate. Your credit and income are a non-factor, which might sound too good to be true. Well, hard money is a bit more expensive, interest rates are usually above 10 percent, and loan terms usually entail … (0 comments)
|
texas: The Benefits of 90% Texas Hard Money Loans
- 02/15/19 10:01 AM
Online articles about Texas Hard Money Loans often cite that this type of financing entails a steep down payment, so is hard money is reserved only for cash-rich investors?
The first thing to discuss when it comes to hard money and down payments is LTV. LTV is the amount you can borrow, as a percentage of a property’s value. Most hard money mortgages have an LTV of 70, so if you wanted to finance the purchase of a property listed at a million, you'd need to have 300 thousand on hand for a down payment.
This steep down payment is one of … (0 comments)
|
texas: How to use Texas Hard Money Loans to Finance Rental Properties
- 02/15/19 09:55 AM
When it comes to Texas hard money loans, one of the big factors banks will look at is your debt to income ratio or DTI. But what if you want to buy into rental properties to improve your income situation? If that is your case your pretty much SOL if you rely on the bank. But there is another way.
There is another way to finance rental properties called hard money. With hard money, if a deal is good enough, you can qualify even if you don't earn a "steady," paycheck.
Of course, hard money doesn't come cheap. These loans come with double-digit … (1 comments)
|
texas: The Benefit of Purchasing Rentals with Texas Hard Money Loans
- 02/15/19 09:43 AM
Most in the real-estate investment game consider Texas Hard Money Loans to be best suited for house flips, but what about long term rentals? Why would you want to use hard money to buy a rental property? Since hard money is supposed to be paid off in a handful of months, it’s easy to assume this type of financing isn't meant for long term investments.
But hard money allows you to finance distressed properties based on their worth after their repaired. With hard money you can pay nothing for your next rental using a simple strategy: buy a distressed property, raise … (0 comments)
|
texas: Texas Fix and Flip Loans: Properties You Should Never Finance
- 02/15/19 09:27 AM
Don't get overexcited if you spot an online listing you'd like to flip and the profit projections look great on paper. There are specific properties that might never qualify for Texas Fix and Flip Loans, and even if they are eligible, there are certain deals you should avoid.
When it comes to flips, you want properties that will qualify for financing that is unless you've got hundreds of thousands stuffed under your mattress, and above all, you want properties that will sell and sell quickly.
If you can't flip a house within a few months, you could be on the hook for a … (1 comments)
|
texas: Start a Legal Cannabis Business with Arizona Hard Money Loans
- 02/15/19 08:36 AM
The future is green. The sale of legal cannabis in the US is a multibillion-dollar industry poised to become an economic titan. Revenues from medicinal marijuana continue to grow. Take advantage with Colorado Hard Money Loans.
Here’s a quick history lesson: In 1937, the Federal Government passed the Marijuana Tax Act banning recreational use of cannabis, not necessarily medicinal. By 1970, the feds passed the Controlled Substances Act federally banning both recreational or medicinal use of marijuana. Between the 1970s to now, the year of our Lord MMXIX, cannabis laws have seen astronomical changes. Namely, many states have decriminalized, legalized, or medicinally … (1 comments)
|
texas: Do Texas Bridge Loans Really "Bridge the Gap" Between Homes?
- 02/12/19 12:27 PM
Searching for a new home can be stressful, and if you need to take a loan out to do so, there can be some really strict contingencies on what you can do before you sell or move. Keeping all of your options open and considering “bridging the gap” as a possibility may be the best option for you and your situation.
Norman lived with his mother, but it was time to find a new home. Their current home was small, and as her medical needs increased, he wanted to find a new space that suited both of them. However, in most of … (1 comments)
|
|
|
|
|
|
|
If you’d like to work from home or generate a solid side income, Texas Rental Property Loans can be the vehicle that gets you there. Take time to consider the options, so you can choose the wealth-building strategy that’s right for you.
;)
;)
;)
