Columbia, Maryland house flippers are doing their very best to breathe new life into homes and improve entire communities, while generating revenue. However, house flippers need access to working capital to see rehab and renovation projects through to completion. While it is standard practice to seek larger financing for property acquisitions, house flippers need a source of working capital to meet more immediate expenses.
Time-Sensitive Costs For Columbia, MD House Flippers
House flipping projects have a number of expenses. In fact, purchasing property is probably the easiest step. Third party inspections, permits, hiring subcontractors, pricing flooring and fixtures, and many other expenses are not only necessary, but they are very time-sensitive. Columbia, MD house flippers understand the balancing act of scheduling and logistics that goes into a project. If there is a hold up in timing or a lack of working capital, the entire project can get delayed. And in the house flipping business, delays translate to reduced profit margins.
Hard Money Loans Alleviate The Stress
Hard money loans are specially designed to take care of the more immediate expenses while larger funding is still being processed. Bridge loans can be arranged quickly, so Columbia, MD house flippers have the financing they need, when they need it, sometimes in as little as five days. Some commercial real estate investors in the Columbia, Maryland area figure the amount of hard money loans into larger financing when starting a house flipping project. When the larger financing is disbursed, a portion is set aside to repay the hard money loan. Since hard money loans do not have any prepayment penalties, taking care of the balance is easy.
Hard money loans help Columbia house flippers improve communities and neighborhoods. House flippers take older properties, and turn them into beautiful homes for people. Yes, selling houses to new owners generates revenue, but flipping homes has a much larger impact. The renovated properties restore beauty to neighborhoods, and attract buyers, who in turn impact the local economy by shopping at stores in the immediate area. New homeowners also make neighborhoods safer, as opposed to having run down and neglected homes in the area.
Columbia, MD House Flippers Use Abel Commercial Funding
Abel Commercial Funding offers the most comprehensive commercial real estate financing program in the Columbia, MD area. We provide fast, efficient, and affordable hard money loans for house flipping projects, to make sure your projects stay on track. Contact our offices today to get started.