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Investment property financing is a solid choice for real estate investors thinking about buying an investment property or refinancing an existing home or commercial building. With the right Georgia investment property loan, together with favorable financing conditions and interest rates, real estate investors can easily climb the success ladder.
Real estate investors in Georgia might be happy to learn that investment home mortgages, in addition to being painless to be approved for, are also fast closing. In contrast to banks, private lending firms will not pooh-pooh approving a loan to a self-employed person, particularly if the property or home can create cashflow, and the individual has successful experience in real estate management, together with a well thought-out project plan and the financial capacity to fulfill the loan terms. Aside from that, a deposit of some kind is going to be required, whether offered as hard cash or utilizing home equity within the property. Due to less form-filling and documentation compared to traditional bank loans, fast closing private real estate investment loans in Georgia also give applicants an advantage over their competition.
Countless real estate investors use the equity locked within their real estate holdings as a way to raise money to buy additional investment homes or simply to strengthen the cash they have on-hand. By way of example, there was this husband-and-wife couple who obtained a bank-sold house at a cost of $600k in a trendy tourist spot near Lake Michigan. They spent $150,000 on upgrades, and afterwards used the home as a B&B offering short-term accommodations. It was then appraised at $1.2 million by a 3rd party appraisal professional.
The couple received $120k per year net from the home. Their substandard credit score of 460 made it much less likely for a bank to help them get back their personal investment in the property by doing a refi on their previous loan. A real estate investor loan at 65% loan-to-value with Island View Private Loan Fund (IVPLF) gave the couple $780,000 and helped them recover their personal cash from the home.
Those who want to do a cash-out refinance to take advantage of the equity inside of other properties to invest in additional properties can also go with real estate investor loans. Imagine somebody who purchases a house in Georgia and fixes it up, but simply cannot sell it thanks to changed circumstances. His capital is stuck in this house, hindering him from making use of it for other projects. Typical lenders, such as banks, necessitate the individual to have owned the home for at least one year. But IVPLF can authorize a cash-out refi all the way to 70% loan-to-value, depending on the appraised as-is valuation of the property, even when the home is uninhabited.
IVPLF is aware that the financing needs of an investor in real estate are distinct from that of a conventional homebuyer. Your quest for the ideal Georgia real estate investment loan ends here. Submit the contact form or call us and let's talk about what kind of investment property loan will be best for the property you have in mind.
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