Choosing the right private money lender can have a major impact upon the success of your investments. A reputable lender can provide better terms, better advice, and faster service, all of which can make the difference between securing an ideal investment property and watching such an opportunity slip away. So what should you look for when choosing the provider of your private money loans? Here are just a few factors that you should take into consideration when comparing rehab loan lenders.
1. Experience. What is the reputation of your lender within the industry? How are they ranked by the Better Business Bureau? What do people who have worked with them have to say about them? How many loans have they financed, and perhaps more importantly, how many of those investments ended up being profitable? It’s important to do your research on your lender to find one with a solid reputation and a history of success with the types of investments that you are most interested in.
2. Service. In the house flipping industry, speed and quality of service are both essential factors to successful investment. You’ll need a lender who is able to provide you with quick funding when necessary and reputable backing to help ensure a smooth purchasing process. You’ll also want a lender who is able to answer all of your questions and provide you with timely and courteous service.
3. Response. It’s important that you work with a private money lender that is responsive, readily available, and willing to answer your questions promptly. At this time, the market is competitive and investors have to move faster than ever. This means your lender also has to move quickly to help you close deals as soon as possible.
4. Strength. You’ll want a lender that cannot only demonstrate a solid reputation and clearly explain loan terms, but also provide you with the level of financing and in-depth industry analysis that you’re going to need in order to be most successful in your property investments. How much can your lender offer you, and how quickly? Do they have the breadth of experience to help you expand your investment portfolio and make the wisest investment decisions?
At ZINC Financial, we pride ourselves on having an excellent reputation within the private money industry. Our clients return to us time and time again because we offer loans of up to $750,000 in as little as 7 to 10 business days. Our application process is straightforward and approval takes less than 48 hours. When you work with ZINC Financial, you’re working with a company that can serve as a strong and knowledgeable partner throughout your property investment journey. Take the time to research the company’s history of success and then call their advisors at (559) 326-2509 to learn what ZINC Financial can do for you
