Pros & Cons Of Hard Money Loans
Hard money loans or fix & flip loans are the interest only short-term loans used by the real estate investors to easily and quickly buy, repair and sell a property for a profit. It is to be noted that instead of focusing on the credit history and income of the borrower, hard money lenders just take into account the value of the property (that he/she is using as collateral). These loans are considered perfect choice for investors who want to rehab their distressed properties.
You must aware yourself with all the advantages and disadvantages of hard money loans before obtaining them for your estate investment project. Following are the pros and cons of hard money loans.