Hard money lenders are an excellent option when you want to expand your real estate investment business or get more business opportunities and you don’t want to spend your own cash. They’ll quickly assist you with a loan program that meets the criteria you need with terms you’re comfortable with.
A hard money loan is what many real estate investors use as a strategy to keep expanding their investing portfolio. This is their choice by preference because of the fast-closing time they offer as well as the few documentation and requirements.
Once you have the paperwork in place, depending on the type of property and the loan program an appraisal process might start. This isn’t always necessary and a letter of approval is more than enough to close the deal.
Some of the personal documents you may have to submit are your credit report and your investing background. As for the property, an action plan and estimated renovation costs might be necessary.
If you want to get a hard money loan in Fort Lauderdale, here are some facts and info you might consider:
Fort Lauderdale is part of Broward County with a population of 182,437 residents and a recent job growth of 1.87%.
Local residents have a per capita income of $43,274 and their education level stats show 87.7% of them are high school grads or higher and 37.0% have a bachelor’s degree or higher.
Some of the most visited locations are Broward Center for the Performing Arts, Old Fort Lauderdale Village and Museum, Museum of Discovery and Science, Museum of Art, and Las Olas Boulevard.
Broward Community College, Florida Atlantic University, and Florida International University are some of the many institutions, government offices and corporate headquarters located downtown.
Two important costs to keep in mind if you want to invest in a property in Fort Lauderdale:
Median home value: $376,743
Average market rent: $1,796
Hard money lenders in Fort Lauderdale have been assisting real estate investors since many years ago and they can help you with your financial needs as well.This is a list of some of the best in the area:
