What Hard Money Loans are and How They Work
© WordChapter.com
Hard money loans have high interest rates.
Š WordChapter.com
This type of loan is used majorly for purchase and repair of properties.
Š WordChapter.com
High interest rate is responsible for the quick decisions of investors.
Š WordChapter.com
This is a short term loan.
Š WordChapter.com
Always have plans to pay back as quickly as you can.
© WordChapter.com
Only expenditures contained in Scope of Work will be refinanced.
Š WordChapter.com
It is better for investors to overestimate than underestimate.
Š WordChapter.com
Excess money from estimate can be kept or returned by the investor.
Š WordChapter.com
Real estate lenders mostly demand for 20% of the project.
Š WordChapter.com
Some properties would worth ten times the value when refurbished.
Š WordChapter.com
Read the full article: https://businessloans.wordchapter.com/what -hard-money-loans-are-and-how-they-work/
Š WordChapter.com