There are a limitedamount of lenders who really understand the concept of flippingproperties. The hard money lenders Georgia who fall into this category are:
· Development lenders
· Residential lenders
· Bridgelenders
· Commercial lenders
Your job is to find the most suitable lender for your particular type of real estateinvestment. Most people start by purchasing an individual family home, hence they will choose residential hardmoney loans. The difference between the different categories of lenders is dependent upon their funding sources. It is for this reason that they are normally categorized as private hard money lenders or bank lenders.
Private Hard Money Lenders Georgia
This type of lender works with private individuals. Theirfunding is acquired from a group of private individuals who pool their money to offer to borrowers. This type of broker does not interact with the traditional lending institutions and your deal will be directly with the lender.
Private Hard Money Lenders Suitable for Property Flipping
There are certain hard money lenders who focus their services on borrowers who require fix and flip loans. Real estate investors who fall into this category often experience difficulty in obtaining suitable loans for their purpose through traditional lending sources. This type of borrower has unique requirements that are suitably matched to hard money lenders. They generally have a short time to obtain a loan as they may be purchasing properties on auction. They need the funding to renovate in a short space of time and give them time to sell the property before they move onto their next property to fix and flip.
Hard money lenders Georgia are available to help you with funding regardless of the type of property transaction you intend entering. There are certain regulations and rules that you will have to adhere to.