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Investment property financing is frequently utilized by borrowers as a temporary technique to acquire a commercial or residential investment property or to refinance a previous home or building. With the right Kansas investment property loan, in conjunction with ideal financing provisions and interest rates, real estate investors can readily move up the success ladder.
Real estate investors in Kansas are going to be pleased to find out that investment home mortgages, as well as being easy to be approved for, are in addition fast closing. Even while most banks think twice about offering funds to a self-employed customer, privately owned financing companies have no issues providing funding, provided that the home has a strong likelihood of generating income, the borrower is a seasoned real estate investor and manager, and he provides a well thought out exit strategy and the fiscal ability to fulfill the terms of the financing. The applicant must be able to put a down payment for the property or home or free up some preexisting equity. Compared with traditional lending institutions, such as banks, privately owned lending companies require less forms and documents, helping make private real estate investment loans in Kansas fast closing.
Numerous real estate investors make use of the equity within their properties as a method to acquire money for buying more investment homes or to strengthen on-hand cash. As in the story of a prior Island View client who purchased a bank-auctioned piece of real estate in a touristy area on Lake Michigan at a cost of six hundred thousand dollars. They sunk $150,000 into upgrading and renovating the house, after which they started a B&B rental and the appraised valuation rose to $1.2 million.
The couple generated $120k per year net from the property. A lousy credit score of 460 made it almost impossible to work with a traditional bank to recover their personal expenditure of $150k. Yet, Island View Private Loan Fund (IVPLF) managed to complete a real estate investor loan for them at 65% LTV, letting them take back the capital they had personally used on the home.
Real estate investor loans are also a superb solution for investors who want to do a cash-out refi to release their existing equity for other types of real estate transactions. Imagine someone purchases a rundown house in Kansas and fixes and flips it, but is not able to sell it off quickly. His investment dollars are stuck within this home, due to which he may lose out on many other business opportunities. Banks or other traditional loan providers won't approve a cash-out refinance if the person has held the house for less than a year. But IVPLF can grant a cash-out refi all the way to 70% loan-to-value, as calculated by the appraised as-is value of the home, even when the home is unoccupied.
IVPLF realizes that the lending needs of an investor in real estate are completely different from that of a normal home buyer. In case you are hoping to discover a suitable lender who can give you advice about Kansas real estate investment loans, look no further. Submit the contact form on this page or call us and let's talk about what kind of investment property loan would be most suitable for the property you have in mind.
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