The real estate market’s current difficulties are causing some people to rethink the practice of fixing and “flipping” or reselling homes for profit. But one Utah company, DoHardMoney.com, is taking a more optimistic viewpoint, offering quick turn hard money loans to real estate investors.
Salt Lake City, UT – October 14, 2009 – (PressReleasePivot) — The current state of the real estate market is causing some people to rethink the practice of fixing and “flipping” or reselling homes for profit. Some recent reports have suggested that real estate prices are still coming down, and the bottom may not be seen until 2011. But one Utah company, DoHardMoney.com, is taking a more optimistic viewpoint, and looking for the opportunities hidden within the difficulties.
“We see hard money lending as particularly beneficial to towns suffering from the current economic crisis,” says Ryan Wright, CEO of www.DoHardMoney.com, a hard money lender in Salt Lake City, Utah. “Improving real estate with hard-money loans provides the whole ecosystem of service providers, contractors, agents and individuals with real income.”
Hard money is a type of asset-backed loan financing which is secured by a real estate parcel. In other words, it’s a form of equity loan, and the credit rating of the borrower is not as important as the value of the property, once it’s been repaired or improved.
During the present financial crunch, the housing market is seeing a lot of turn over, making this a very opportune time for investors who want to fix and resell homes. This is particularly true in so-called “Rust Belt” communities, which have been hit especially hard. Hard money lenders can bridge the gap between banks and investors or homeowners, getting sub-standard housing units rehabilitated quickly and affordably.
“We fund the unfundable – the blighted home in the decent neighborhood; the individual in bankruptcy; the uneducated single parent who needs to make more to break the cycle of poverty which follows them from minimum wage job to unemployment line,” adds Mr. Wright. “Done correctly, hard money lending can restore inner cities and repair lives faster and with less risk than any method we know.”
DoHardMoney, as a hard-money lender, can usually arrange financing within 48 hours, on a wide range of investment properties.
DoHardMoney’s CEO Ryan Wright views fixing and flipping as “the greatest job you could ever have”, making as much or as little money as you choose, and benefiting the community by improving the quality of housing and creating jobs. Wright notes, “The truth is that markets go down and markets go up. I just want the markets to move, because movement creates opportunity.”
About Do Hard Money:
DoHardMoney.com offers hard money loans to investors who fix and flip real estate. Operating in Colorado and Utah, the company can lend hard money to fund 100% of purchase without demanding any down or monthly payments. DoHardMoney.com can be contacted by phone at 801-468-1000, by e-mail at info@dohardmoney.com, or via their web site, http://www.dohardmoney.com
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