The housing market in Southern California is absolutely booming. Recent news reports confirm an 8.4% jump in the median home price range in our area, and the spike has triggered bidding wars among hopeful buyers. In other words, the California housing market is a fantastic investment opportunity.
In this issue, we’ll talk more about the various ways you can take advantage of this tremendous opportunity, and why hard money lenders in Los Angeles are perhaps your best and safest bet.
How Can I Get a Loan for An Investment Property?
Knowing which loan option is the most advantageous for you and your money is the key to whether or not your investment will be a success or failure. If you’re looking for a way to generate regular cash flow through your property investment, you need to know which options are best for your individual situation.
- Home improvement loans are often the first option many potential investors consider first. However, if you lose a tenant and are unable to cover your monthly payment, you could lose the property altogether.
- Home equity lines of credit can be appealing for their ability to use the equity in your home to obtain a line of credit. Again, though, a huge risk is if there are problems with your new investment property, you could lose both your home and your new investment property.
- Seller financing is an option that involves the property seller actually financing the deal for you. There are several disadvantages of seller financing, however. While the seller reaps the benefits of income as you pay down the loan, you’re actually paying more to satisfy the seller and mortgage, and the associated higher interest rate.
- Hard money lending, however, is quickly becoming the financing method of choice for those wishing to invest in real estate. They make a lot of sense for those wishing to invest in flipping homes, construction loans and land loans. Hard money lending is also the smart choice for those with bad credit and the need for quick loan approval with credit issues.
The swiftness of the loan decision enables the investor to act quickly in securing the property, as most decisions for hard money lending is take less than a week – compared to the 30-45 days taken by most banks.
Another key advantage of hard money loans is the ability of the private investors to look past any negatives in a borrower’s history, such as short sales and foreclosures.
For Answers to All of Your Hard Money Questions in Los Angeles, Call the Reputable PB Financial Group.
As the above information clearly shows, hard money loans provide you with much more flexibility and ability than traditional financing sources.
If you need capital for an investment opportunity, PB Financial Group will effectively resolve all financial restraints that are getting in your way. For further information or inquiries contact the experts at PB Financial Group at 877.700.3703 or complete our easy online form. www.CalHardMoney.com.