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If you are a real estate investors or interested in getting started, you need to know about hard money loans Texas. Texas hard money is an alternative investment strategy for real estate investors that can help purchase investment properties. What you do with the property is up to you, but the longer you have the loan, the more interest you will pay. More interest means less profit so you are often best served by paying off the loan quickly. This makes hard money loans Texas ideal for fix and flips or fast cash needed for an auction.
If you want to learn more about hard money loans Texas, here are a few facts that you need to know before you try to obtain your hard money loan.
- Hard money loans Texas often have higher interest rates than traditional loans. This may seem like a deterrent at first, but remember they are designed to be short term capital loans. If you have a plan to pay the loan off quickly, the interest will hardly even dip into your overall profit.
- Get your hard money loan from a reputable hard money lenders Texas. There are a lot of investment scams out there so make sure to do your homework and choose a reliable lender.
- You can use hard money loans Texas for a variety of purposes. Buying a fix and flip, a vacation rental, or other income property are just a few. You can also use hard money loans Texas as short term business loans when you need cash quickly for an unexpected expense.
- Credit scores are not important for hard money loans Texas. In fact, hard money lenders Texas hardly even look at your credit history. They care more about your investment plan and the potential to make money.
- Debt to income is not as stringent with hard money loans Texas. This is really good news for investors who may have a few properties. Banks will often disqualify investment properties based on what you owe on other real estate debts. This is not always the case with hard money lenders Texas.
Once you are ready to start your investment journey with hard money loans Texas
, be prepared to have you life changed. You can make huge profits and may even get to quit your full time job in favor of being a real estate mogul. That sounds pretty nice, doesn’t it?
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027
About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.Dennis has been married to his wonderful wife for 38 years. They have 2 beautiful daughters 4 amazing grandchildren. Dennis has been an Arizona resident for the past 32 years.