What geographical areas does DFW Investor Lending serve?
Currently DFW Investor Lending ONLY provides loans for North Texas properties and investors. replika rolex
What is Hard Money?
Hard money is a short term (typically 6-18 month), asset based loan which is normally utilized to provide acquisition and repair funds to renovate investment properties and make ready for resale, or place the borrower and property in an improved position to refinance the project to a lower market interest rate and longer term. relojes imitacion
Why use Hard Money?
Hard Money is fast, easy, reliable and a smart way to leverage limited cash into multiple transactions. Rehabbers use hard money to provide them with ability to close fast and cleanly, while providing both acquisition and repair funds under one product. Landlords use Hard Money to pick up distressed properties with low cash requirements, and also borrow rehab funds instead of having to go back into their own pocket for repairs. Once the home is renovated, it is now eligible the refinance out in low interest loan product with low to no cash out of pocket, thus reserving as much cash as possible for more deals. In these scenarios, many of clients ultimately refinance out of loans in under 90 days. imitatie horloges
What does it Cost?
Many people shop for money the same way they shop for airline flights; by cruising the internet for the best “deal”. But as many a seasoned traveler will tell you, cheapest is not always best. Unlike a bumpy, crowded flight, a bad real estate transaction can stay with you for a very long time, and could financially destroy you. So instead of “rate shopping”, you should be asking “What can you do for me?” Our vendor resources range from honest local contractors, realtors, bank lenders, title companies and real estate attorneys, to name a few. It is these “value added” relationships and local knowledge that a (good) Hard Money lender really provides. Not just cash. So ask for the lender’s experience, not in loaning money, but in doing what you do; Investing in Real Estate!
But for who must shop, give us a call to discuss your individual project, as each deal is different, and will our best to quote you a fair and very competitive price. All our pricing is transparent, with no hidden fees or teaser rates. Integrity and market knowledge is what sets us apart. www.perfectwatches.org
What are your loan limits?
DFW Investor Lending, LLC will loan up to 70% of the After Repaired Value (ARV) of your investment property (no owner occupied homes). Our lending limits range from a minimum of $50,000 to over $1mil. fake rolex watches
Are there any prepayment penalties or loan servicing fees?
Never. All our loans may be paid off at any time, without penalty. Use our money for one day, or the full term, the cost is the same, only an interest per diem is charged for additional days. rolex replica
How does it work?
We loan funds for both purchase and repairs. The repair funds are held in escrow at closing and are largely determined by the client and may include contractor bids, if you desire. We then inspect and verify this budget, relative to the expected value, or work with our clients to adjust to a final draw schedule that will satisfy the project. These “repair escrow” funds are withheld at closing by DFW IL and released as the repairs are completed. We do not fund construction “advances”, we only fund on completed items. And we NEVER charge interest on escrowed funds, until they are actually disbursed to the borrower.
How much cash will I need?
Most of our clients average around 10-15% cash out of pocket at closing, although some will close with far less. The actual amount needed is driven by many factors, including experience, depth of lender-borrower relationship and the property itself. repliki zegarkow
How fast can you close?
As a Direct Lender, we can close as fast as the title company can clear title in most cases. Most clients close in 5-7 business days, but have closed and funded loans in matter of hours from the time of application. We can close as quickly as you need us to. It’s our money. replique montre
Will you do 2nd Liens?
All of our loans require clear title and a first lien position on real estate. We cannot loan on personal property, nor can we loan in 2nd or lower position.