Suppose you’re looking to invest in a property in Raleigh, North Carolina, and have no idea where to begin.
The search should start for Raleigh hard money lenders in North Carolina, and this should start with us! – DFW Hard Money
DFW-HardMoney – Hard Money Lenders in Raleigh, North Carolina
In that case, this hard money lending guide is for you. Whether Raleigh is a new market for you or you have invested in the area before & in the real estate industry – we outline what you need to know to get the hard money loan.
We want to help you turn a profit quickly with your next real estate project.
Raleigh Hard Money Lender – Investment Property Loans.
Undoubtedly, the state & the area has the right mix for rapid economic growth and long-term prosperity.
What makes it that much more remarkable? It is the fact that it continues to thrive during challenging economic times and the COVID-19 pandemic.
Hard Money Loans Raleigh Program and Funds – When Is The Best Time?
Low, competitive rates (interest rate) and the ability to close quickly are two reasons to use hard money loans.
Use it to rehab your investment property, Turn it around and sell it for a profit, or put it up for rent.
Your goal as a real estate investor is first to purchase the investment asset. Then, do what you need to do quickly to get the greatest return on your investment. This may require the help of hard lenders in Raleigh NC.
Raleigh Hard Money Lenders:
4 top investment strategies for hard money.
1 – Fix and Flip:
Fix and flip loan rates – The real estate strategy of buying a property that needs repair, renovating it, and then selling at a profit has been widespread. Residential real estate investors are growing, and professionalism has increased yearly in the Raleigh area.
100% fix and flip loans nationwide. Limited inventory and high demand have made this strategy profitable for investors in residential real estate. Those who can identify a home at a discount because of its condition yet find it in a growing area like Raleigh, NC & Raleigh-Durham will have the advantage.
Putting in just the right amount of rehab and bringing the house out of disrepair usually involves improving aesthetics and bringing kitchens and bathrooms up to date.
The investor aims to fix the property quickly and return it to the market for a sizable profit (flip it). So now you know where the term fix & flip originates from.
2 – Commercial:
Commercial properties & commercial real estate include warehouses, medical offices, corporate offices, manufacturing facilities, restaurants, retail strip centers, and more. These properties may be new construction, from the ground-up construction, renovations, or change of use play for resale or long-term hold.
A Traditional Bank in NC often has long and tedious processes to approve an investor’s commercial hard money loan. Financing this way when real estate investing is not always to the borrower’s advantage when appraising a real estate investment.
All sorts of issues can be raised – bad credit, personal loan credit score problems, and minimum credit scores, being a few.
Previous loan issues are often cited – bad credit loan, payday loan, commercial loans, bridge loans, conventional loan, bridge loan, construction loan, installment loan, FHA loans short term loan or a home loan for a cash advance.
This is before they look into any mortgage issues and rates (i.e., mortgage banker & credit union issues).
3 – Transactional Funding & Financing:
Transactional funding can apply to residential, commercial, farm and ranch, or other facets of a real estate asset. One of the roles of transactional funding is to allow the buyer to quick-turn the property to another buyer.
In this case, we provide funds for the Raleigh buyers closing while waiting for their buyer’s funds to come through.
4 – Land Development:
Land development projects involve altering the landscape for a commercial or residential property asset.
For example, a residential lot development to sell to builders or a commercial development used for a specific or mixed-use. It can be challenging to find financing for land development, and they require a great deal of detailed knowledge and, in turn, cost.
Are you wondering how much of a loan you will need? And what your overall costs will be? Seeking the best hard cash lenders in Raleigh-Durham would be a good start!
Here are great tips for calculating for a hard money interest-only loan that includes an overview of these loans—the benefits of interest-only loans and what’s due when.
What Does The Loan Process Look Like In NC?
Raleigh, NC: Getting a hard money loan quickly from a private lender (trustworthy and experienced) is the number one way investors are successful. Private money lending is easy with us!
The challenge is that it is not always easy to do.
This is because many hard lenders/private money lenders in this area are not transparent and have hidden fees.
Hard money loans in Raleigh North Carolina:
Fix and flip to construction loans
You want to find an established lender who has an easy loan process. You also want someone experienced in providing real estate investors with what they need – loans to purchase or renovate non-owner-occupied residential or commercial real estate properties.
They will also offer you advice and help you navigate the unique challenges that can arise. In the end, your deal will go much more smoothly and stress-free.
The DFW Hard Money team of private lenders makes the loan process easy with free applications, same-day approval, and 24-hour closing.
To get started, you must complete a simple private money loan application with your financial information. It should take you no more than five to 10 minutes to complete.
The approval process can take as little as one day when all required documents are completed. So you can react to a great investment property and not lose an excellent opportunity.
Sheet Lending Terms and Fees – What Should You Expect?
Finding the best rate is critical, but that’s not always easy, as a lender may try to hide fees.
At first glance, the ‘best rate’ is not always the best rate when all is said and done.
That’s why we suggest investors do their due diligence and select competitive rates from a transparent lender—one with experience and a proven record.
Our unambiguous requirements are on DFW Hard Money’s Loan Terms Page.
They include an $850 fee for closing costs. Only non-owner occupant loans (individuals and corporations allowed). A personal guarantee for the lender to be in the first position.
Loan Term – What To Expect:
Many terms are essential to know, including after-repair value, or ARV, of a piece of real estate when deciding whether a deal is worth pursuing.
The ARV estimates what the property will be worth after all the needed repairs, renovations, and upgrades have been done.
For an explanation of all sheet lending terms, including ARV, loan amount, purchase price, loan to value (LTV), and more, check out our 3-minute Explaining a Term Sheet video.
It will walk you through everything you need to know and understand as an investor in the real estate market.
Real Estate Loans and Closing Time:
Because closing quickly is vital to most real estate investment opportunities, you can start your next phase.
You want to make sure the Raleigh hard lender you are working with has testimonials from previous clients that show they are easy to work with and can be trusted (we also cover Charlotte in North Carolina)
They should also have proven examples of closing private money loans in as little as 24 hours; or as soon as the property title is clear.
About DFW Hard Money:
Best Hard Money Lenders Near Me in Raleigh, NC
As private money lenders with over 20 years of experience in real estate & real estate loan dealings, DFW has helped many investors succeed with underwriting hard money loans.
Raleigh hard money lenders – We are a private money lender serving real estate investors who are flipping houses and need funds for commercial property investments, transactional funding, developments, and more.
Hard Money Raleigh, NC & Raleigh-Durham, NC
We are a trusted lender who is here to help!
As the direct lender, we lend hard money using a simple 5-Step Process.
Learn more about DFW Hard Money, call (817) 200-7575, or complete a no-obligation application today.
We’re happy to supply you with references and testimonials from the many real estate investors we’ve helped.
More information & F A Questions:
How Do I Choose A Good Hard Money Lender in Raleigh?
There is no one-size-fits-all answer to this question, as the best hard money lender for you may depend on your project’s specific needs and goals. However, some tips for choosing a good hard money lender in Raleigh include:
1. Shopping around: It is important to compare multiple lenders before deciding, as they may offer different rates and terms.
2. Understanding your credit score and history: Lenders generally require borrowers to have a good credit score and history to qualify for a hard money loan.
3. Considering your budget and financial goals: Ensure you understand your goals before meeting with any lenders, as hard money loans can be expensive and unsuitable for all borrowers.
4. Considering the project’s scope: Before signing any paperwork or agreement, understand the scope and what will be included in the final agreement. This will help you avoid any surprises or disagreements down the road.
5. Discussing your options with a lawyer: If you have any questions or concerns about the loan or the agreement, it is always advisable to consult with a lawyer. A lawyer can provide guidance and support during the entire process, from initial consultation to final closure.
PAA – Can You Negotiate With Hard Money Lenders?
Yes, it is possible to negotiate with Raleigh hard money lenders.
Hard money lenders are typically interested in helping you get the best possible loan terms and can be flexible in their lending criteria depending on circumstances.
Are Hard Money Lenders Legit?
Yes, they/we are! But not all are equal. Do your research and look at their reputations.
What are typical hard money lender terms?
We have a page on lending terms
What is an example of a hard money lender?
Us – DFW Hard Money is what we do & are trusted by many.
Raleigh – Gov
Raleigh Housing Market Stats – Redfin
Raleigh News Observer – https://www.newsobserver.com/
Money.com – Best Places to Live Article – Raleigh #36
Raleigh – Overview Stats:
Population – 457,00
Median Household Income – $77,000 pa
Median House Price – $318,000
Unemployment Rate – 4.1%