Hard money loans can give you the money that you need in order to get off your feet as a real estate investor.
Check out some of our videos:
In these two videos, we take you through the before and after stages of flipping real estate (in this case, giving the house a “cosmetic” — painting, landscaping, etc).
If you’re looking to get involved in flipping real estate but lack the necessary capital, contact us at 760-469-4650. We can help you.
At Palm Desert Capital, we specialize in hard money loans.
How Does a Hard Money Loan Work?
A hard money loan is a short-term loan secured by real estate. They are funded by private investors (us) as opposed to conventional lenders, such as banks or credit unions.
In other words, hard money loans cut through red tape.
We can give you money based on the value of your property, not your credit score. Even more importantly, we’ll value your house based on its ARV, or “after-repair value,” after you make the renovations.
Also, rather than having to wait a month or more for a loan from the bank, we can usually give you money within a week.
So, what’s the catch?
You don’t want to use a hard money loan for a long-term investment, because we can’t beat the interest rates that the bank provides. HMLs are, by definition, short-term lending instruments.
However, if you’re flipping houses, that doesn’t matter. We should be your go-to. You aren’t going to spend two years flipping a house (or at least you shouldn’t be). In order to make money investing in real estate, you need to be smart and savvy.
Here at Palm Desert Capital, we have a saying: As long as you know value, you’ll never lose money.
So make sure you know the value of the home you want to invest in.