What are construction completion loans?
In this video, professional real estate investor Beau Eckstein tells us what a hard money construction completion loan is and how to get one.
A construction completion loan is a complicated loan that many lenders will not fund because a real estate construction project is stalled, there may be some impediments to further improving the property, and the real estate investor may not be able to obtain clear title to the property or get title insurance.
This is one of those situations where it’s best to give Beau a call because he can help you work through it. There are various steps you have to take in order to get a construction completion loan because your private money lender will want a clean title. Things like mechanic’s and other liens on the property will have to taken care of before any lender will loan you money to fund the completion of your construction, or rehab, project.
But it is doable. Let a real estate pro like Beau Eckstein help you navigate these waters.
To contact Beau Eckstein, visit his website:
or call him direct at 925-852-8261
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