Wondering if a quick loan process will beneficial for your real estate venture?
You’ve probably heard the refrain “time is money” a dozen times. Never has that saying been more applicable than it is in the real estate business.
Here are the top 3 benefits to a quick loan process:
Benefit 1: Property Discount
In real estate, the quicker you get your loan processed the quicker you’ll be able to close on a deal and start on your rehab or new build. AND you have a good chance of buying your investment property for less since you’re able to close sooner than the other people vying for it.
Typically, sellers want to get properties off their hands which is a benefit for you because if you have access to a quick loan process you’ll be able to offer them money faster.
If it’s a quick close the seller is more likely to take a reduced payment now, rather than waiting to get a little more money down the line.
There are many ways a deal can fall through, especially if there’s a long time between the offer and closing.
The longer you wait between offers and closing, the more that can go wrong.
We give hard terms, terms that aren’t contingent on appraisals, within 24 hours in most cases.
We do our due diligence, make sure everything is in line and how it’s supposed to be, and we can get you funded quickly – so you can start on your project sooner.
Benefit 2: Opportunity Cost
The quicker you close a deal, the closer you are to finishing this deal and starting the next. This means more money. If that sounds too good to be true, don’t worry! I’ll explain!
Every day you save on your current deal is an extra day you’ll have to work on the next project.
If you typically do four projects a year and are able, thanks to a quick loan process, to shave 10 days off each of those projects you’ll have enough extra time to do a whole other project.
The more projects you can do, the more money you make.
Imagine all that extra income!
Benefit 3: Less Headache
With a long closing, there are usually many moving parts. You’ll have to deal with disclosures, inspectors, appraisals, credit reports, and even more things to schedule. Talk about a headache.
We work hard to make sure you don’t deal with headaches like this. We’re upfront about costs and time, we do what we say and do our utmost to keep things simple and quick.
Making sure you benefit from working with us is a top priority – we know you don’t have time to mess around with extraneous details and we want to keep it that way.
If you’re interested and think a quick loan process is where it’s at, we’d love to help you out. Feel free to call or email us whenever – or even drop by the office! We are here to help you!