As a real-estate investor you could employ strategies to ensure that you don't need to visit the bank to purchase a home. You can take loans or buy wholesale houses to earn the benefit of profits. You may even pay cash. If you find an investment property that's perfect to not pass up and you're looking to fund it quickly and you are in need of to make use of hard cash.
These loans can be referred to by the name of private loans. They are basically an exchange of cash made possible through private investment (hard money lender). There are a variety of reasons you could benefit from these loans, and they could be life-saving. You can also visit the site www.wilshirequinn.com/seattle-hard-money-lenders/ to get hard money loans in Seattle.
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For starters, they lend only to the deal, and not you. They do not look over your credit, and they will provide you with the funds for the renovation. One of the best things about them is that they are able to close in just one week. The lender will request an appraisal for the home you plan to purchase, and will ask for two figures.
They'll want to know the value as-is in addition to the value after repairs (ARV). The terms of these loans are likely to be less attractive than the standard mortgage lender's conditions, however it's a fair better deal when you consider the many benefits private loans can provide.
Consider the private money lender as a partner. If you've come across a deal that is worth your while and you need to close quickly the lenders are worth every cent.