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A blanket loan is a mortgage used to finance more than one property. It can be utilized when investing in rental properties. If you’re a landlord, this type of loan can provide several distinct benefits so it’s definitely worth your consideration.
From family and friends through to finances and investments, sometimes in life, it’s easy to take things for granted. Thanksgiving is a time to sit back, look around, and appreciate the things that you do have. Rather than focusing on the negatives, you can learn to take advantage of your opportunities in order to grow and reach your potential.
If you’re a real estate investor, you’ll know that you often need speedy, dependable capital to fund your property investments. A lack of capital affects the number of deals you can make and the profits you can expect to accumulate, but there is a solution way to avoid this frustration — private and hard money loans. Below, we outline ways that private money loans can help you secure more deals and reap higher profits from your property investments.
Hard money provides a means of borrowing from someone other than a traditional mortgage lender. It can be a good option when you need a loan fast, but not everyone can get a hard money loan.
Although there was once a time when hard money loans were associated with the lower end of the housing market, today that is changing. In a bid to seize on impressive Returns on Investment (ROIs) of luxury properties, an increasing number of luxury property developers are choosing private money loans.
When it comes to second mortgages, you probably fall into one of two camps. The first sees refinancing their homes as a terrifying financial prospect. The second sees a unique opportunity, which presents plenty of benefits in the right circumstances.
At one stage or another, there will come a point in your life where you need to access cash quickly. As the name suggests, an owner-occupied loan is a loan which you will take out and secure against the property you live in. While some people use these loans for meeting personal expenses, others will use them to fund investment projects. Such projects usually take place in the real estate industry. If you’re trying to secure a private money owner-occupied loan, you may find that doing so with a view to expanding your current property portfolio works to your advantage.
Investing in real estate can be a financially rewarding experience. While it’s possible to become a successful part-time real estate investor, it’s true that the more time and energy you dedicate to something, the more likely you are to succeed. Property investment is no exception. Most new investors don’t know how to make the leap from a part-time side job in real estate to investing full-time, but the good news is that it’s possible as long as you’re willing to put in the work.
In the construction industry, every project is time-sensitive and speed can make or break the success of the project. When you’re confident that your efforts will result in excellent profits, you don’t want to wait around for slow financing. Although traditional finance is available for construction completion loans, it isn’t always quick and easy to get an institutional loan. Even when you are eligible, you may find that the application to delivery time is too slow for your construction project. Another option is to choose a hard money or private money loan for your construction completion project.
The most popular question I’ve received over the past two weeks has been, “Do you offer hard money second mortgages?”