A Fix and Flip Loan, often called a “hard money loan” or “private real estate investment loan,” is the most common source of funding for real estate investors who buy distressed properties, quickly renovate them, and then list them back on the market to earn as much profit as possible on the “flip”. The loan is secured by the investment …
A Hard Money loan for a “fix and flip” real estate investment means borrowing the property-purchase and rehab money by mortgaging the property that you’re going to flip. In other words, you’re using your planned investment property as collateral for the loan. Loan closing is done very quickly to ensure that you get the property, especially in a competitive fix-and-flip …
When a person “flips” a house, they generally buy it at a low price and fix it up so it’s nice and ready to command a better purchase price. Then they sell it for a nice profit. For example, a flipper might buy an old house in a city for $40,000, make some repairs, give it a paint job, install …
Credit scores represent a statistical analysis of a person’s credit files, telling others how likely that person is to pay their bills. In other words, how “creditworthy” are they? Do they pay their bills in full and on time… or not? Credit scores are typically obtained from major credit bureaus such as Experian, Equifax and TransUnion. When applying for a …
