Texas Hard Money is Easy Money in This Market
Understanding the Benefits of Hard Money Lending in Texas
September 24, 2015A Quick and Easy Guide to Finding the Right Texas Hard Money Loan
September 24, 2015Easy money in the faltering real estate market.
Texas has a huge population and that number is only expected to rise in the coming years. Yet, it’s not a very condensed place, spread out to the far reaches of the horizon. So many houses were built in the real estate bubble a few years ago, but many of these properties now stand empty, neglected and decaying.The housing market is slowly, but surely making a comeback – after all, shelter is a staple of human existence, so eventually houses will be affordable again. Let’s hope anyway. Some people have based their entire livelihoods on that exact hope and they’re doing it by acquiring these decayed properties, fixing them up in less than six months and selling them for a profit. This is called “flipping.”
But most banks cannot or will not approve loans for such projects. The solution? Texas hard money. These types of lenders approve loans quickly and easily, but for a different, atypical rate than a bank or mortgage company would allow. The payments are made purely on interest, not on the loan itself, so that each party makes a pretty penny with a quicker turn around.
These types of loans aren’t for everyone. Usually, only businesses and real estate gurus should consider private money lenders Texas, but there’s no reason why an average Joe Schmoe can’t consider this an option. Hopefully, in a couple months to a couple years, the real estate economy will recover completely and these flipped properties will be worth a ton to everyone.
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