Raleigh is the capital of North Carolina, and it’s the second biggest city in North Carolina. It’s the 41st biggest city in America, and it’s known as the “City of Oaks.” Raleigh was named after Walter Raleigh, who established the Roanoke Colony. It’s home to North Carolina State University, and is part of the Research Triangle, along with Durham and Chapel Hill.
Jeff Rohde at Roofstock says Raleigh is one of the top 20 emerging housing markets for investors, and Raleigh is home to many great technology and life science institutions. It also has a terrific food scene with many restaurants. With a robust culture, Raleigh is a place where there’s a lot of business, development, and a great quality of life. It has one of the best convention centers on the whole continent. It has rapid job growth to complement its population growth.
According to Niche, Raleigh is one of the best cities to live in in America, and one of the best places to live in North Carolina. It is a place that gives residents an urban suburban mix feel, and where most people own their homes. It’s home to many restaurants and parks, and it has great schools. Raleigh is home to many families and young professionals, and it has a median home value of $248,300 and a median rent of $1,121.
Right now, Raleigh is a seller’s market. It’s a place where demand is rapidly outpacing supply and where real estate investors are getting into bidding wars over the best housing in Raleigh. Real estate investors are seeing homes sell fast and for higher than listing price in the housing bubble currently in Raleigh.
Real estate investors and buyers should consider hard money loans as one of the best ways to invest in real estate in Raleigh. Hard money loans are also known as last resort loans, and they’re mainly used in real estate transactions like fix and flips, long-term rentals, and construction projects. Hard money loans are mainly used for buying a home in disrepair then flipping it for a greater profit. They give a huge advantage in a seller’s market like Raleigh — they give very fast speeds of approval and access to fast financing. Hard money loans can be approved in a couple of days, whereas traditional mortgage loans can take a month or more to be approved.
Hard money loans can be approved so quickly because they’re based on the property, not the credit score of the borrower. It’s not like credit doesn’t matter — hard money loans have minimum credit scores of 600 to 620, and good credit scores also help investors get better interest rates. Hard money loans use the property as collateral. 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 becomes the homeowner.
This means hard money loans also have a lot of risks and disadvantages, like having much more unforgiving terms and rates than traditional mortgage loans. Hard money loans have interest rates of 8–15%, repayment periods of more or less a year, and LTV ratios between 65–75%. These are much more unforgiving rates and terms than traditional mortgage loans, which have interest rates of just over 5% on average, repayment periods of around 30 years, and LTV ratios of 80%.
It’s important to only trust the very best hard money lenders. That’s why we at Hard Money Lenders IO have made a list of the best lenders in Raleigh.