Flippers Finding Hard Money’s Soft Landing
Until recently, flippers who don’t have an unlimited source of income have had to get a hard-money loan to acquire properties and rehab them for the flip – and until that property was sold, flippers had to pay HIGH interest on that hard-money loan. Ouch!
Now, as a flipper, you can obtain your hard-money loan to acquire that uninhabitable property, make the improvements to make it habitable, and IMMEDIATELY refinance it into a qualified mortgage with today’s regular rates – no seasoning required. I’ll pause a moment here for you to go back and read those last few sentences to assure you’re reading them correctly.
This isn’t a guarantee that you’ll qualify or any of that jazz, of course – you still have to go through the application and underwriting process – and I’m not going to quote you any rates, but you can be sure they’ll be WAY BETTER than hard-money loans if you qualify. Also, you might find that with the ability to refinance to a much lower rate, hanging on to that property as an investment could give you an even better return on your investment.
Let us run the numbers for you and get you started. Call us at (800)269-8113.