Hard Money Lending Texas

Like many others, even I was attracted to foreclosed property investment for earning short term profits. However, I did not have capital to invest in purchasing the properties. The property I was interested in came with a price tag of $ 85,000. I went to the bank for loan. Due to the fact that they themselves have a huge asset of foreclosed properties and liabilities of unpaid loans, they refused to grant me a loan for a foreclosed property investment. It is then that my real estate wholesaler led me to Sherman Bridge Lending to fulfil my requirement of a bridge loan in Texas.

Indeed, my experience with Sherman Bridge Lending was extremely satisfactory. Their representative went with me to assess the property. He gave me an estimate of $ 15,000 for repairs, however the after repair value was estimated at $115,000 based on the market research. After the inspections and estimates were undertaken, the loan amount sanctioned to me was $ 80,500. I was surprised to see that my loan was processed in only 4 days. On the fifth day, I was the proud owner of a foreclosed property by shelling only $ 4,500 from my pocket.

The repairs were done within 3 months and the costs worked out to $ 14,500. My property sold for a whopping $130,000.  I repaid the original loan amount of $ 80,500 coupled with $1500 in interest. My final profit after all the expenses was $ 29,000 in 3 months. Amazing indeed!

But, this could not be possible without the invaluable assistance of Sherman Bridge Lending.

But you have to keep in mind that private money lenders in Texas will charge higher rates of interest than banks as the risk involved is higher as well!