Real Estate Investment Loans Houston
Investing in a real estate business in Houston is an undertaking that will never stop. Despite the generous income it generates for you, there will always be a constant need for funds for repairs, new property acquisition, property rehab, regulatory fees, and expenses, and sometimes, you might even throw in unforeseen costs caused by tenants. Being aware of this context, as a real estate investor, you may want to develop beneficial business relationships with people or firms that provide fix-and-flip rehab loans in Houston.
Before you can develop a mutually beneficial business relationship with a hard money lender, however, you need to look at the following pointers that can help you choose your ideal provider of real estate investment loans Houston area. These tips work well whether you are a beginner in the real estate rehab business or even if you have already built a real estate portfolio.
Tips To Get Your Real Estate Investment Loans In Houston
In choosing a hard money lender for Houston fix and flip loans, you should consider some factors that may shape your decision or even before deciding where to take your business requirements. Here are six areas of consideration before deciding on a Real Estate Investment lender.
1. Apply for a Loan at a Local Hard Money Lender
A local hard money lender can help you address a local hindrance on a local level because they do not have general national policies to think of, or they do not have to ask for approval on the national level. Big traditional lenders tend to have strict structures that want to cater to all clients. In doing so, they sometimes become stiff in their decision-making process. They tend to see the client as a part of the general population they cater to with a catch-all type of doing business. Only local lenders will see you as a unique client. You have the benefit of developing mutually beneficial client-lender financing relationships with local lenders, and depending on how well you handle your loan repayments, you may even get incentives on your succeeding loans.
2. Consider a reasonable turnaround time for loan approval and funds release
You can resolve some of your real estate issues by how quickly you can come up with the funds for your projects. It is best to have access to funds as fast as possible as it prevents unnecessary project delays that can lead to additional costs. However, you should also be aware of what comes with a fast Turn-Around-Time, as loan charges are just some of its compromises. A reasonable balance between TAT and loan charges should be your goal.
3. You have to be aware of the fees they charge
Processing, closing, and financing charges must be reasonable. All lenders charge fees but take note of the fine print. Your lender should properly discuss with you and not only inform you of all the loan charges that you need to pay. Aim for transparency in all discussions. Do not put yourself in an uncomfortable position where you have no choice but to pay up more than the amount you need to. Ask your lender what the deductible charges are, or better yet, ask for a list of these charges.
4. A Houston rehab financing company should know the real estate industry
Their expertise in the industry should not end on real estate loans but should also extend to actual real estate investment practice. Local lenders generally have a better understanding of the local real estate market. Partnering with a lender with these qualities increases your chances of better advice, decision-making, and investments. The best Houston rehab financing experts have decades of experience not only in financing or lending. More importantly, they are real estate investors with decades of experience in fix-and-flipping houses, rehab rundown houses, and even as owners of rental properties.
5. Networking is the key
When you start looking for a hard money lender partner for your real estate project, one of the first things you should be doing is networking with people who are already in the industry. One way of doing this is by attending industry-related conventions. Another is to search online for a list of lenders who have offices in your area because if they are near you, you can visit their offices and get a good feel for how they treat their clients, potential or otherwise. Most lenders who have an online presence also have online forms you can fill up for pre-qualification. You can also learn more about the company online by visiting its home page, management page, loan program page, or even the lender blog webpage, where you can get more insights about real estate investing.
6. Choose a reputable lender to avoid scams
Make sure the company you want to deal with for a Houston Property Renovation Loans provider is legitimate. It has to have a license to operate and should be registered with the appropriate government agencies to be authorized to do business. Take note of how long the lender has been in operation. If it is relatively new, know the industry experience of its stakeholders or officers.
Choosing a Houston Fix and Flip Financing Partner
Considering most of the pointers above, choose a Houston rehab financing partner with the potential for a long-term business relationship. A long-term business relationship can provide you with special considerations in the long term, such as preferential rates and discounts, priority on new business opportunities, and an invitation as an investor partner.
What We Offer
GL&L Holdings is a prime hard money lender where you can get more than your expectations. The company has been in the business of helping investors since 2010. The company has provided not only the best Houston fix and flip loans but also offers borrowers the option to become investors themselves. See what our borrowers and investors say about us on our home page. Call us now at (832) 770-9415 or send an email to info@gllholdings.com so we can help you along. There’s no time to waste, especially when a real estate opportunity is already knocking on your door!
