How quickly you get your hands of cash for your investment purchase can very well determine how much money you make in the real estate market. It’s that simple. Hot deals don’t wait around for conventional loans to fund.
You need to move quickly when you find an investment property because the next guy is waiting around the corner to snag that deal. If you have quick and easy access to cash to finance your real estate property, you are more likely to scoop up the best deals on the market to turn them for a profit.
In this situation, your hard money lender will be your closest ally.Though hard money lenders often do not require credit checks or income verification, you do need to come in with a sound business plan, including an exit strategy. You also need to have all of the information on the property and expect a reasonable loan amount versus the value of your purchase.
With the help of a hard money lender, you will most like get your loan in a matter of days, not months. Hard money loans do charge higher interest rates, but if you follow your plan and provide a quick turn-around, your partnership with a quick money lender can lead you to more real estate profits.