For some people, the daily grind of punching a time clock and working in a cubicle is just fine. For others, it can be pure torture. If you are the latter, it is time to start looking into hard money loans Texas as a way to make money with real estate investments. This will let you be your own boss and get off the hamster wheel for good.

When it comes to hard money loans Texas, the best place to start is with Texas hard money lenders. Texas hard money lenders specialize in alternative funding for investors and hard money loans. A hard money loan is cash loan that is funded by a group of investors. The loan is underwritten by a mortgage broker so it is safe. Hard money loans Texas are meant to be short term loans that can be used to fund real estate investments (although there are other ways to use them too).

Once you have found a lender for your hard money loans Texas, you need to find a property. One of the best ways to make money is to purchase a house that you can “fix and flip.” Choose a home that has the potential to build equity quickly so you can make the largest possible profit. In many cases, you can even get some extra capital with your hard money loans Texas that can be used to do many of the repairs and cosmetic fixes for the house.

When you are looking for a property, here are a few things to keep in mind:

• Location. Texas hard money lenders know that location matters. Choose a great block with good schools. Then, find the worst house in the neighborhood.
• Don’t shy away from foreclosures, short sales, or bank owned properties. Sometimes these may take a bit longer to close but you can usually get a good deal. And having cash in hand from your hard money loan means that you can usually close more quickly than you thought.
• Get a home inspection. You know there will be issues, just make sure that there is nothing that will be too expensive to fix. A home inspection can help find any hidden issues and help you develop a realistic budget.
• Hire pros. Don’t try to do the entire house by yourself. Know when you need to find a handy man, plumber, or tile guy. And make sure to keep them on speed dial.
• Price the home right to sell quickly. This will help maximize your profits while minimizing the amount of interest you have to pay on your hard money loans Texas.

Dennis Dahlberg

Broker/RI/CEO/MLO