In a perfectWorld, you have some capital set aside to flip houses. However, you can also use other people's money to flip houses and use only a fraction of your own money.
This strategy is called using "Hard Money." Hard Money Lenders issue short-term loans for rehabbing houses.
Getting a hard money loan is easier than getting a loan from a bank. There is less paperwork and your credit history is not as big of a factor. Often you can receive the funds in 48 to 72 hours.
Some Hard Money Lenders issue “No Doc” loans. They do not check your credit. They do not look at your income. However, a No-Doc lender requires a larger down payment than most other Hard Money Lenders.
Keep in mind this is a brief overview of how “Hard Money” works. Every Hard Money Lender has its own terms, conditions, and policies. Each state has its unique laws, rules, and regulations.http://www.capitalrehabgroup.online/
Author:Victor DeFrisco Phone: 561-951-3759 Dated: April 2nd 2017 Views: 66 About Victor: ...
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