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.