Hard Money Rehab Loans Come To The Rescue
Hard money rehab loans can solve the problem to unexpected pop-ups that ruin your budget and timetable. Sometimes, these pop-ups can throw you off by a few days and a nominal amount of money, but more often, it throws you off by weeks and thousands. This is why you should build in 10-20% overruns into your budget and your schedule prior to beginning your project.
Here’s an example how hard money rehab loans can save the day
You are about to start your construction and you discover all the pipes have frozen and burst. Your $25,000 rehab just turned into a $50,000 repair with all the flooring, drywall, insulation and mold remediation necessary. Plus, instead of 6 weeks, it’s now 20.
Too much for you to deal with, and with no money of your own at stake, you can just walk away. Reaching out to Private Lending Group can solve your money problems by way of rehab loans and get you back on track with their quick turn around and funding time.
Traditional financing options are out of the question if your credit is less than par and you have little to put down. You are a high risk. Your credit score is a numerical representation of your past promises. It gives potential lenders an idea of your ability and willingness to pay back money borrowed. Even worse than no credit is bad credit. Bad credit shows lenders that you don’t keep your promise to repay them. No credit shows you have never made that promise in the first place — because you haven’t borrowed any money. Hard money loans are an excellent alternative for rehab loans.
Private Lending Group for will be the partner you’re looking for and guide you in future investment opportunities. They will also calculate loan to value ratios for the area you are looking to purchase in.
To apply for rehab loans with Private Lending Group click here.