So-called "hard money,” which comes from sources other than banks and which carries higher interest rates, is hard to track because it’s fragmented and littered with thousands of small players doing one or two deals a year. However, a for-profit trade group called the American Association of Private Lenders estimates the number of hard money lenders and related “private money” lenders at 8,300, or up almost 40% since 2016.
If you ask a professional real estate investor to define real estate, he would probably call it a numbers games. Economics transcends emotions in real estate. Access to capital is a critical aspect of real estate investments, and that’s why private mortgage lenders eclipse conventional banks in the business. We’re here to find out why seasoned realtors prefer private lenders over traditional mortgage providers.
Buy it, fix it and flip it; sounds easy, right? While the television programs on fixing and flipping are most certainly plentiful, there is a lot more “behind the scenes” that takes place that you don’t see. Don’t find yourself in a flop situation.
There’s a few things you’ll want to think about when evaluating any potential flip…