Real Estate Investor’s Guide to Refinancing with Hard Money
As a real estate investor or property flipper, time is money, and making quick moves is a must to be a successful real estate investor. Don’t let conventional financing’s red tape and glacier-slow pace stop your investment in its tracks. Time is money, and with hard money refinancing you can get back to what’s important. Investing in your real estate projects. Thankfully, hard money loans make it easy to finance your next investment. Here is your guide to refinance your real estate investment using hard money loans!
Why Refinance With A Hard Money Loan?
There are plenty of reasons why someone might consider refinancing their real estate investment with a hard money loan. Usually, real estate investors choose to refinance their hard money loans because their existing loan is due, they require additional funds to complete their flip, or they bought a property in cash and need financing for the rehab.
When your existing hard money loan matures, but you aren’t ready to sell your property, a hard money refinance offers not just an extension of time but an infusion of funds to complete your investment.
But what about if you need more funds for your investment? Real estate investments can go over budget and if you’ve got the clock ticking, refinancing can help get your project to the finish line. By refinancing, you not only get more time to perfect your project but also secure the capital you need to take your rehab to the next level. It’s not just about funds; it’s about transforming your flip into a real estate jackpot. The same goes for those who purchased an investment with cash. Using a hard money loan injects funds right where they’re needed—into the rehab. With this strategic move, you’re not just recovering your cash; you’re leveraging it to maximize your returns.
Different Types of Hard Money Loans for Refinancing
When looking to refinance your investment with a hard money loan, there are endless options. Typically real estate investors are looking for one of the following loan types to finance their properties, such as a standard fix and flip loan, rehab loan, or possibly a bridge loan.
Bridge loans can be a lifeline for real estate investors looking to fill funding gaps. When opportunities won’t wait, a bridge loan offers immediate cash flow, ensuring you never have to pass up an investment due to a lack of funds and finish your flip.
Rehab loans, on the other hand, are for the investor looking to complete their rehab, or upgrade their property to maximize their investment. By financing not just the purchase but also the transformation of properties, these loans enable you to increase a property’s market value dramatically. Additionally, the standard fix and flip loan offers the financing for the purchase, and repair of your investment so you can focus on the flip and supercharge your investment.
With a hard money refinance you can focus on boosting your profits and seizing those prime market opportunities before they slip away.
Tips for a Successful Refinancing Process
Hard money loans move fast, so if you need to secure your hard money loan refinance, make sure you are ready!
- Preparation: Let’s start by reviewing your current financial position and investment goals. Time is ticking, so we need to be efficient here. Take a look at your project’s progress and figure out exactly how refinancing will benefit you. Gather all the important information you’ll need for your application, such as your loan amount, budget, and ARV.
- Find a Hard Money Lender: Now, it’s time to choose a hard money lender to fund your deal. Make sure to compare terms, rates, and timelines for closing. Don’t forget to check out reviews and explore different options for your investment.
- Apply and Close: The great thing about hard money loan applications is that they’re fast and offer quick approvals. Some lenders can even approve and fund your property within just 2 days after receiving the application. So, let’s get that application in and get ready to close the deal!
One thing all real estate investors know is time is money! Fortunately, refinancing with a hard money loan is a quick and effortless process, allowing you to promptly resume working on your investment.
Summary:
Let’s get straight to the point—refinancing your investments with hard money loans can be your ticket to maximizing your profit on your real estate investment.
Real Estate Investor’s Guide to Refinancing with Hard Money
- Why Refinance With A Hard Money Loan: Refinancing with a hard money loan allows you to get back to flipping and boost your investment potential.
- Different Types of Hard Money Loans for Refinancing: Whether you’re plugging a funding gap with a bridge loan, upgrading a property with a rehab loan, or powering through a flip with a standard fix and flip loan, hard money refinancing is a great tool to maximize your investment.
- Tips for a Successful Refinancing Process: Refinancing your investment is as easy as 1,2,3! Simply crunch your numbers, pick a top-notch lender, and zip through the application to flip that property fast!
Don’t let red tape and slow funds stall your investment. Get back to flipping with a hard money loan refinance! Apply and get approved today. Get Started Now!
