Use Professional Representation for Las Vegas Real Estate Investing
In the run up to the bubble burst, hard money lenders were tripping over themselves to dole out cash to would-be rental property owners.
A “hard money” lender is an entity, usually an individual or small financial group, that loans money with few of the complications it takes to get a loan at a bank. The loans are meant to be short term so the rates are typically well above average. As are the penalties for late repayment or default.
In truth, there are honest, beneficial hard money lenders out there who can help people get in and out of a loan quickly. However, most people experience something other than the “benefits” of working with hard money lenders.
Today, they’re making a small comeback. Lending standards are tougher these days and many would-be real estate investors are holding back because they’re just not ready to part with their cash reserves. Re-enter the private lender, encouraging people to jump into real estate instead of Wall Street. Problem is, today’s real estate market is a great deal more complex than a few years ago. It’s not as easy as “just getting in and getting out” in a few weeks, which is smack dab in the middle of the hard money lender’s sweet spot.
Investing in real estate today requires the insight and careful planning of an experienced agent, like us at Gavish Real Estate. You need representation that knows the market and how to obtain the most stable, realistic loan terms available. Remember, mortgage rates are low enough to warrant going straight to the bank or credit union.
This is a very worthwhile read for anyone considering buying investment property here in the Las Vegas. It discusses avenues to avoid relative to fraud and presents a solid case on how to avoid over-extending yourself. We found it worth sharing.