I recently read an article about “real estate red flags.” While reading this article, I could not help but chuckle at some of the things the author thought were deal breakers. When it comes to real estate investments, hard money lenders Texas know that often times, a house with some issues can be the golden ticket.
The article about red flags had a few issues that they thought should scare all buyers away. However, if you are getting a hard money loan from hard money lenders Texas, these issues can actually help you get a better deal and make a significant profit. That is because hard money loans Texas are designed to purchase fix and flip properties. The more that is “wrong” with the home, the lower the price and the more room for improvement. Here are three things that should never scare you away if you are investing with hard money loans Texas.
1. Property is being sold “as is.” For many picky buyers, this suggests that there is something wrong with the home. There may be but if you are purchasing with a Texas hard money loan, you can use the loan to fix the problem and sell the home for a profit. You can also usually get a good deal if there are cosmetic issues. And, not asking for any repairs from the seller means you have a much stronger bargaining position.
2. The home is listed as needing a little TLC. The article said that this meant the home was a shack. If you want turnkey, obviously this would not be for you, but hard money lenders Texas know that TLC can translate into big bucks.
3. Cash only offers. Buyers with traditional financing will not be able to swing this, but with hard money loans Texas from hard money lenders Texas, you can come to the table with cash in hand to buy the house. And, as a bonus, cash in hand offers can usually be accepted at much less than the listing price.
So, regardless of what the real estate “experts” tell you, hard money lenders Texas know that many of these “problems” should not be deal breakers and can even be ways to earn more on your investment.
Texas Tel: (512) 516-1177