Virginia Hard Money Loan
This Chesapeake property ended up with a great projected profit, even though the borrower had to bring some cash to close. Obtaining a Virginia hard money loan for the property was a crucial step to realizing the investment dream for Scott, one of our great members from VA.
Sometimes borrowers will get discouraged when a deal they bring us requires cash to close, as they’ve assumed every good deal will qualify for complete 100% financing. That’s not always the case, but it doesn’t make the deal a bad one or less profitable, it just needs different terms in order to complete it. Perhaps the borrower could choose to wholesale the deal, passing it on to an investor with more capital. Sometimes gap financing can help, which then does make the deal 100% financed. You’ll always want to look at the totality of the deal and explore all your options, so that like Scott, you can make money with real estate investment.