Henderson is a city in Clark County, Nevada, and is the second biggest city in the state after Las Vegas. It is only 16 miles southeast of Las Vegas, and has a population of just over 320,000 people. It is in the Las Vegas Valley and at a very high elevation of almost 2,000 feet. Henderson is known as “A Place to Call Home” and is known for having a great place to shop, go to the movies, and go to the casino. Since it is not far from the Las Vegas Strip, Henderson is known as a place where there’s always a lot to do. It is more suburban than Las Vegas and has a more affordable and higher quality of living.
Henderson is known as the best place to raise a family in the Las Vegas area, according to Niche. It is a place that gives residents a dense suburban feel and is a place where most residents own their homes. There are many parks and substantial green space in Henderson, as well as terrific weather, outdoor activities, and health and fitness. It is a great place to commute within the city and to Las Vegas. Henderson is home to many young professionals and above average public schools. It has a median home value of $341,100 and a median rent of $1360.
Right now, Henderson is a seller’s market, which means demand is rapidly outpacing supply in Henderson. For a buyer strapped for cash and looking for the market to calm down, it’s probably not the best time to buy a house in Henderson, but for real estate investors who want to seize on a surging housing market and investment properties, Henderson is a place where homes are selling incredibly fast and for higher than listing price. It’s a housing bubble where there are constant bidding wars during the pandemic.
Hard money loans might be the best way to invest in real estate in Henderson. Hard money loans are also known as short-term bridge loans and last resort loans, and they’re known as an alternative to traditional financing. Their main purpose is to buy homes in disrepair and then repair them and flip them for a greater profit. Hard money loans are mainly used for real estate transactions like fix and flips, long-term rentals, and construction projects. Hard money loans are also known for having very fast speeds of approval. They can be approved in a couple of days, which is significantly faster than traditional mortgage loans, which can take over a month to be approved. This fast speed of approval allows real estate investors to acquire fast financing in a market where time is of the essence.
There are many fundamental differences between hard money loans and traditional mortgage loans. Hard money loans use the property as the asset, not the credit score of the borrower. Of course, a strong credit score and financial standing never hurt. Hard money loans are different in that they use the property of collateral — what this means is if a borrower defaults on a mortgage, the bank forecloses on the property. But if a borrower defaults on a hard money loan, the lender takes on the property in a very expedient process where the lender takes on the property and tries to flip it themselves. This can be profitable, but is also very risky for the lender.
It’s important to only trust the best hard money lenders because hard money loans are much more unforgiving than traditional mortgage loans. And we have you covered at Hard Money Lenders IO. Here are the best hard money lenders in Henderson.