If you need loan to fix and flip a property, getting hard money loans in Los Angeles is the best approach to back home flipping tasks at PB Financial Group.

1. What to Know When Repairing and Flipping Property
If you need money to fix and flip a property, you’ll want to consider different types of financing.
Hard money loans in Los Angeles give investors the ability to move through a project of this kind
quickly, but it’s important to understand each side of the equation. Here is what to know about
property flipping and the financing you need to make it happen.
1. A Faster Type of Loan
Possibly the biggest appeal of a hard
money loan is speed. Approval can
happen the following day or even the
same day in some cases. Funding may
come through in a week or less when
conditions are ideal. The speed depends
on the quality of your application and
your experience in the field.
2. Appropriate Property Types
The guidelines are flexible as far as property types are concerned. Hard money lenders in
Los Angeles may approve loans for single-family homes, multifamily dwellings, commercial
property and even warehouses. The loan amount will never exceed 75% of the value, so
keep that in mind when calculating your business plan.
3. How Lender Qualifies Applicants
Perfect credit is not essential in this type of financing. However, expect lenders to evaluate
your application based on other factors relating to the property you plan to flip. Both the
purchase price and potential sale price after renovation will factor into the equation.
Usually, the lender will look at the pre-repair value in order to minimize risk. Your
experience in flipping homes may also play a hand in the outcome.
4. How Mistakes Are Made
Home flippers may think it’s worth a chance to profit from any project, but there are times
when the risk is too great. For example, overestimating the post-renovation value can set
you back a great deal. Other mistakes involve the amount of money you put into the
renovation. Make sure it is appropriate for the market where you are selling. Finally, have a
contingency plan for delays and budget issue. Otherwise, you could lose serious money on
your deal. Getting hard money loans in Los Angeles is a great way to finance home flipping
projects. Contact PB Financial Group at 323.935.5555 to begin the process and start your
next deal or visit www.CalHardMoney.com for further information.