Raleigh Hard Money Lenders – Finding The Best Loans & Lender
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 hard money lenders in Raleigh NC, and this should start with us! – DFW Hard Money
DFW Hard Money lender can help in Raleigh NC
In that case, this hard money lending guide is for you. Whether Raleigh is a new market for you or you’ve 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.
There’s no doubt that 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.
Using A Hard Money Loan 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 firstly 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
4 top investment strategies for hard money.
1 – Fix and Flip:
The real estate strategy of buying a property that needs repair, renovating it, and then selling at a profit has been widespread. There was an unprecedented real estate market in 2020, and now 2021, it is no different.
Limited inventory and high demand have made this strategy profitable for investors in residential real estate. Those that can identify a home at a discount because of its condition yet find it located 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, from the ground-up construction, renovations, or change of use play for resale or long-term hold. Read about our commercial terms here.
A Traditional Bank in NC often has long and tedious processes to approve a commercial hard money loan to an investor. 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 score, 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 mortgage rates (i.e., mortgage banker & credit union issues).
3 – Transactional Funding:
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 allows the buyer to quick-turn the property to another buyer.
In this case, DFW Hard Money provides funds for the Raleigh-Durham buyers closing while waiting for their buyer’s funds to come through.
4 – Land Development:
Land development projects refer to 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 out 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-Durham: Getting a hard money loan quickly from a private lender (trustworthy and experienced) is the number one way investors are successful.
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 will be stress-free.
The DFW Hard Money team makes the loan process easy with free applications, same-day approval, and 24-hour closings – About Us
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 quickly and not lose an excellent opportunity.
Sheet Lending Terms and Fees – What Should You Expect?
It’s critical to find the best rate, but that’s not always easy as a lender may try to hide fees.
Often the ‘best rate’ at first glance 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 requirements are unambiguous and can be found 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, and 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 so you can start your investment with its next phase.
You want to make sure the Raleigh-Durham hard money 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 where they have closed in as little as 24 hours; or as soon as the property title is clear.
About DFW Hard Money:
Best Hard Money Lender in Raleigh, NC
As private money lenders with over 20 years of real estate & real estate loan experience, DFW has helped many investors succeed with hard money loans.
We’re 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 direct hard money lender who is here to help!
As the direct lender, we lend hard money using a simple 5 Step Process.
We operate in the following areas:
DFW, Denver and Colorado, Birmingham and Alabama, Tampa and Florida, Atlanta and Georgia, Kansas and Missouri, OKC and Oklahoma, Charlotte NC, Raleigh NC, Nashville and Tennessee, and Texas (Dallas, Fort Worth, Houston, Austin, San Antonio
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.