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Your Hard Money Lender, Your ‘Deal Savior’

by Daniel Mc Grey on Oct 28, 2009

Just when you thought you had no one elseto turn to, you find a hard money lender and you close a deal. Indeed, hard moneylenders are saviors, especially for those in the real estate investing business. Traditional lenders , of course, have always been helpful. It’s justthat when it comes to flipping houses and other forms of real estate investing , hard money lenders are better. They judge a loan based on a deal presentedto them by the buyer. That means that if the lender assessed the fixer upperyou plan to rehab and agreed that it has a potential for profit, your loan willbe granted. These types of lenders mostly do notscrutinize the credit score of a borrower as they are more concerned withwhether they will be repaid through the resale of the property in question. Thisprocess lessens the processing period, giving you more time for other importantmatters such as looking for contractors who will work in the project. Banks and other traditional...Read More >>



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