texas hard money lenders: 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 hard money lenders: 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 hard money lenders: 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 hard money lenders: 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 hard money lenders: 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 hard money lenders: Why Do Texas Hard Money Lenders Prefer to Work with LLCs? - 02/19/19 08:04 AM
Some Texas Hard Money Lenders will only work with LLCs or Limited Liability Companies as opposed to consumer borrowers. The good news is this doesn’t have to be a barrier to your success; establishing an LLC is easy.
Consumer loans are subject to different regulatory guidelines than commercial loans are, so it’s quite common for Texas Hard Money Lenders to focus on just one area. By homing in on the commercial sector, it’s easier to work deals without getting caught up in governmental red tape and success rates are improved. In fact, there’s actually a huge difference in the outcome between consumer … (0 comments)

texas hard money lenders: 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 hard money lenders: 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 hard money lenders: 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 hard money lenders: 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 hard money lenders: 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 hard money lenders: 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 hard money lenders: 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)

texas hard money lenders: Who are Texas Residential Hard Money Lenders? - 02/12/19 12:10 PM
Public lenders have high standards and requirements surrounding your financial history that can disqualify you from loans when you really need them. If this is the case for you, read more below to see how you can make the best of working with Texas private money lenders, so you can finance the property of your dreams.
Seeking out a loan provider can be exhausting, and the disappointment in rejections can make it easy to lose motivation. However, public lenders are not the only resources there are for loans. While your local bank or credit union may seem like an easy option, they … (0 comments)

texas hard money lenders: How Helpful Are Residential Hard Money Lenders in Texas? - 02/12/19 12:03 PM
Obtaining traditional funding for a loan is determined by a variety of things: credit score, debt to income ratio, reliability, creditworthiness—the list goes on. If you are seeking funding for a loan, you should be aware of all possibilities including untraditional routes like residential hard money lenders in Texas.
Texas hard money lenders usually consist of private companies and investors. They are alternative options to people who cannot receive traditional funding by public lenders like banks and credit unions. Private lenders can offer money vast on a variety of different properties including, but not limited to, residential homes, apartments, and condos.
So, what’s … (1 comments)

texas hard money lenders: Horror Stories of Texas Hard Money Loans - 02/12/19 11:55 AM
Many people turn to Texas private money lenders who offer hard money when they cannot obtain funding from their local bank or public lender. While there are reliable private lenders out there, it’s important to know what to watch out for so you don’t find yourself in even greater need of financial assistance than you were before.
Hard money is an option for people looking for money fast. Maybe they need the speed that banks don’t offer, needing to start a project literally the day they get approved of the loan, or they are bidding for a property on a competitive market. … (1 comments)

texas hard money lenders: Can You Really Be Approved for Texas Hard Money Loans with Bad Credit? - 02/12/19 11:49 AM
Obtaining a loan can be a difficult process if you don’t understand all of your options. If you haven’t explored the potential of private lenders, read more below to see what kind of things that offer that public money lenders don’t.
Joe and Sue were looking to fix and flip a home, but they had limited experience and an imperfect credit score. However, Joe’s experience in business school and Sue’s experience as a designer made them great candidates for successfully flipping a home. Still, their local banks wouldn’t approve their plans.
Joe and Sue began to look elsewhere, and soon found that private … (0 comments)

texas hard money lenders: How to Use Hard Money for Texas Fix and Flip Loans - 02/12/19 11:42 AM
Jumping into the real estate business can be difficult—high risks can accompany seemingly easy decisions, and consequences can easily put you in the red instead of a rising line of profit. Read more below to see how hard money can help with the costs of your fixer upper.
The first thing most people will tell you when you’re about to renovate a home is to be smart. Doing your research and investing in a reliable team will be important so that you don’t end up in a hole of debt. Any money lender will want to know that you have solid plans … (0 comments)

texas hard money lenders: When You Should Turn to Texas Private Money Lenders - 02/12/19 11:35 AM
Obtaining a loan isn’t easy. Lack of decent credit score and a reasonable debt to income ratio is what turns many people from traditional public lenders to private alternative options.
Being denied a loan can be the cause of many things. It could be an unstable financial history, or unreliability as a lender. It could be unstable plans or an architect who is unable to meet deadlines. It could also be lack of experience and risk of failure if the loan is for something like a fixer upper. Being denied for a loan doesn’t mean you should stop looking—it just means you … (1 comments)

texas hard money lenders: How Texas Hard Money Lenders Can Help You with Fixer Uppers - 02/12/19 11:28 AM
Fixing and flipping homes has become so common in popular media that there are a number of various shows dedicated to every variety of fixer upper, inspiring viewers to seek out easy ways to fix and flip their own properties for a profit. Read more below to find out what opportunities you can find with Texas private money lenders.
Chip and Joanna Gaines are one TV couple that has taken the world by storm, and have even evolved into their own brand. Watching the show, it’s easy to become inspired to seek out local properties with potential for profit. If you’re someone … (0 comments)

 
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