Marietta is a suburb to the north of Atlanta. It is considered one of the best places to live in the country, and as a real estate investor, it is known for having top-notch healthcare, a terrific rental market, and an excellent economy. As a suburb outside Atlanta, it is a very popular suburb to rent, especially when considering its job market and economy.
With an average rental price of $1,332 for a two-bedroom apartment, Marietta is increasingly seen as a desirable location to live. It is the fourth largest town outside the Atlanta metropolitan area. Many residents in the Marietta area commute to Atlanta frequently, and industries within Marietta itself include food, hospitality, construction and manufacturing.
Marietta is also a suburb with terrific schools. The school system is one of the only school systems in the United States that offers a full IB curriculum from Kindergarten to the 12th grade. So not only are many renters seeking rentals in Marietta, but many are seeking long-term rentals within the suburb. With a terrific education system coupled with several outstanding hospitals and recreational activities in Marietta, it is a stable place to invest in real estate long-term.
Finding the funds to finance competitive properties, however, is very difficult.
Hard money loans can be the best opportunity to secure the best property available. They are loans based on the property values of the homes rather than credit score, and they can be used to acquire quick financing for fix and flips, rentals, and repairs for distressed and foreclosed properties.
Many real estate investors may find credit to be a barrier in buying real estate, but hard money loans do not require good credit. While most still require a minimum credit score of 600 to 620, hard money loans depend on the value of the property after repairs. If a borrower defaults on a hard money loan, the lender collects the property.
While they guarantee speed and flexibility for the borrower, hard money loans have significant risks too. They have high interest rates and very short repayment periods relative to traditional loans. While most traditional loans from banks have repayment periods of 15 to 30 years, hard money loans can have repayment periods of only one or a couple of years.
It’s important not to take just any hard money loan. Some hard money lenders try to take advantage of new investors with extra fees like closing costs and origination fees. As a result, it’s important to do your research and be selective to hard money lenders.
But we have you covered at Hard Money Lenders IO with our private lenders directory. Here are the best and most trustworthy hard money lenders in Marietta.