These types of borrowers normally look for short-term loans that allow them to take advantage of an opportunity in short term add-value project or below market purchase. This is the play ground for serious borrowers only, no first time home buyers with no-money down late night TV host manuals. The risks are high, but the rewards can be great as well.
BEST LOAN CHOICES:
Hard Money loans, rehab loans, construction loans, HELOC’s against personal properties, credit cards.
Speed of funding is more important that the rates, which you can expect to be high. Make sure you don’t
have a prepay penalty on the loan.