We can’t make you the star of your own house flipping show on TV, but we can explain how you can rapidly expand your business with fix and flip lenders Philadelphia. You’re working hard, flipping house after house, and building up your operating capital.
Have you discovered how to leverage your capital and qualify for fix and flip loans so that you can do more deals and flip more houses?
Here are 2 ways to grow. Pick one, or both, for massive expansion.
Speed: Grow Faster
Real estate investors who can move quickly secure the best deals below market value. But if you’re applying to your bank to finance your acquisitions or rehabs, you’re the tortoise, not the hare, and slow and steady will not win the real estate investing race! A bank-negotiated mortgage can take several weeks, if not months, and very few deals, if any, will be live options after that amount of time.
Fast moving investors have checked out fix and flip lenders Philadelphia and they’ve lined up a hard money lender they’re confident they can work with. Find a truly good deal and you can acquire hard money within days, sometimes within hours with pre-qualification or a record of previous loan payoffs. This asset-based borrowing is more about the quality of the deal and an assessment of your ability to complete the work.
Without the speed of hard money loans, it’s hard to imagine how you could expand your business as rapidly. Getting money quickly means beating the competition to the deals, completing rehabs more quickly and flipping more houses.
Scalability: Do More Deals
It’s going to be hard if not impossible to get a loan from your bank for your next flip project if you already have your personal home mortgage and a loan/mortgage for a flip you’re presently completing. It is possible to get financing from a private hard money lender for your second, third or fourth concurrent flip project as long as they are good deals, you have solid rehab plans for them and you have a good track record. In other words, if you’ve proven yourself to be a good house flipper, it’s possible to get hard money loans for every good deal you find.
Most banks cannot help your real estate investing business the way private fix and flip lenders Philadelphia can because they make it possible for you to scale up from doing one flip at a time to having multiple flips in progress. Instead of waiting to resell your completed flip in order to start your next flip, imagine the efficiency of selling one house while rehabbing a second house and acquiring a third. This improved dealflow would make the workflow more steady. Using hard money loans wisely is how you can rapidly expand your business.
Grow fast, do more deals, or both. It’s the simple recipe to grow your real estate investing business. If you need rapid access to money for your next flip project, fix and flip lenders Philadelphia can help you with a hard money loan. But more than just providing financing on a single project, at Legacy Capital, we want you to be able to expand your real estate investing business.