South Fulton is a city in Fulton County, Georgia, one of the biggest cities in Georgia. South Fulton is a seller’s market, which means homes sell very fast and prices tend to be very high. It has a population of just over 100,000 people, which means South Fulton is one of the top 10 biggest cities in Georgia.
In 2017, the city was incorporated into the city of Georgia. It became a chartered city in the state, much like Sandy Springs in the Atlanta metropolitan area 12 years before it. No residential areas were unincorporated within South Fulton.
However, it can be difficult to find a good real estate investor in South Fulton. South Fulton is a seller’s market, which means it’s a very competitive real estate market. Homes are selling faster than listed prices, and prices tend to be higher. In 2021, the average sale time for a home in South Fulton was 39 days.
To buy your optimal property in South Fulton, hard money loans might be the answer for you. Hard money loans are mostly used to finance long term rentals, fix and flips, repairs of distressed properties and foreclosed homes. Hard money loans are based on the property of the home, not the borrower’s credit history. These are last resort loans not based on credit. Instead, hard money loans are based on the projected value of the property (even though many hard money lenders still require minimum credit scores of 600 to 620).
Hard money lenders also use the property as collateral for the loan. This means if a borrower defaults on a hard money loan, the lender takes responsibility for the property. Each hard money lender has to determine whether the property can pay off the hard money loan itself, and because of these risks the hard money lender takes on related to the property, hard money loans tend to have higher interest rates, lower LTV ratios, and lower repayment periods than traditional loans from the bank. This means borrowers who use hard money loans have, on average, bigger down payments.and investors need a strategy to pay off a hard money loan.
In real estate money, time is often money. In a very competitive market like South Fulton, it’s important to get an offer as fast as possible.
It’s important not to just trust any hard money lender. Many hard money lenders try to take advantage of inexperienced investors with fees like originations fees and closing costs. It’s important to do your research and only choose reputable lenders to support your investment.
We have researched the best hard money lenders in South Fulton at Hard Money Lenders IO.. These are the most trustworthy and reliable hard money lenders in South Fulton.