Why Should I Borrow from a Rehab Lender?

Rehab Loans Chicago

Rehab loans, hard money loans, investment property loans, however you’d like to refer to them, are again gaining in popularity.
More and more investors are gobbling up properties at bargain basement prices and the inventory seems endless.
Why are investors using “Hard Money” or “Rehab Money”?
There are a number of factors involved.
1) The majority of banks will not lend on a property that requires extensive renovation.
2) Even if a bank were to lend on a property in need of extensive rehab the process can take several weeks just to get an approval.
3) The real estate investor is able to leverage his own personal balance sheet by borrowing OPM, “other people’s money”

Borrowing money from a rehab or hard money lender allows the borrower to move swiftly though their project.
Why?
A company like Select Funding LLC, Chicago’s leading rehab lender/partner understands what the rehabber is attempting to accomplish.
Select Funding and the borrower have the exit strategy built into the process, so that once the construction process is complete, the transition to sale or refinance is seamless.
Our inspection process for each phase of the construction has also been streamlined, enabling the rehabber to keep the project moving along with no delays.
From start to finish our systems have made the use of “Hard Money” or “Rehab Money” in Chicago the most efficient and profitable for our local real estate investors.
To learn more, visit our website at www.selectfundingchicago.com and fill out our quick form application to GET STARTED TODAY.