Hard money lenders in California are the source for financing solutions for those who cannot qualify for a traditional lender. The market for hard money lenders in California is big. That’s because the state has a very active single family real estate market. California has one of the highest median home values priced at an average of $500,000. Hard money lenders in California provide lucrative home flipping opportunities for investors. In a nutshell, they provide a quick fix and flip transaction.
When purchasing real estate, financing is often required. Few people have the capital to buy a piece of property outright, so most must turn to the bank. Unfortunately, for some borrowers, traditional financing is not an option. In such cases, borrowers must look for more unique forms of financing…
Flipping houses in southern California is hot right now, especially in Los Angeles. Almost 25 percent of flipped houses occur in Los Angeles County. According to LendingHome, “ From 2014 to 2017, house flippers—who buy properties with the express purpose of fixing them up and re-selling them—sold 39,042 homes.
If you have the right knowledge and skill set, flipping houses can be highly lucrative. This process typically involves purchasing a property at a price below its actual or potential value. After making changes to the property to increase its value and/or appeal, the house flipper is able to sell the property at a handsome profit.
Most lenders base their decision to extend a loan primarily on your income, credit score and other related factors. California hard money lenders, on the other hand, offer loans secured by collateral. With a hard money loan, you can get the financing you need even if you do not have a high credit score or the other characteristics required to qualify for a traditional loan.
If you’re interested in throwing your hat into the real estate investment ring, you’ll need some capital to get started. Generally, when you’re first starting out in real estate investment (whether it be residential or commercial), you’ll want to start relatively small. Still, buying a property as an investor often means placing a large down payment—so it’s not uncommon to need thousands or even tens of thousands of dollars to get going.
What are consumer owner occupied loans? These loans are loans where the borrower intends to live in the property as a residence or for a consumer purpose. Consumer purpose includes paying a tax lien, helping a family member or bill consolidation. There are tight lending regulations when it comes to consumer owner occupied loans in […]
If you know the best time to sell your house, you can sell your house quicker and for more money. Knowing when will help you find that home-selling sweet spot. And waiting to put your home up for sale can help ease the stress of selling it. The best time to put a home on […]
What do you think of when you hear the words “hard money loan?” Do you envision shady characters conducting business in dark alleys and charging exorbitant interest rates? While a few bad apples have cast a shadow on some hard money lenders, if you do your due diligence, you shouldn’t have to worry about being […]
Speed and flexibility are the main reasons why real estate investors use hard money loans in California, but there are many other reasons, too. Let’s take a look at some of the other reasons. Straightforward Process Applying for California hard money loans is a simple process. Often, a brief conversation with California hard money lenders […]
620 Newport Center Drive
Newport Beach, California 92660