Finding lenders who lend hard money is simple. There are a few so-called investment experts who claim otherwise however it is true that there exist private loan lenders available to everyone.
One of the complaints we've heard is that finding money for rehabilitation is difficult. Some people say that it's impossible. However, this isn't factual. The number of sources of funding available as there were in the past is likely to be more.
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In terms of financing to purchase and fixing up the "as-is" property, there are some excellent sources. It's just a matter of knowing what to be looking for.
It's true that things have changed. In the past, the most effective method of finding cash-based lenders made contact with the person who placed the small advertisement in the paper.
Nowadays, more and more people read the news online, which is the most effective method to locate the money needed to invest in real estate. The most reputable firms (and people too) are all online. It's easier to compare the prices that they charge as well as the loan options they provide.
It is also possible to find out what details they require in order to approve your application. They will usually outline their collateral requirements as well as loan-to-value ratios, and repayment plans.
The change could be the reason that some believe that finding lenders who lend hard money is a challenge. There aren't enough "no-doc" loans that only offer equity as they used to be, however, there are still some. They typically require you to have land that is vacant for them to loan you money.