Question 1

How fast can I close a hard money loan in South Pasadena?

Accepted Answer

Most deals close in 5-10 business days once we have appraisal and title work. All-cash competitive situations sometimes close in 72 hours with the right lender.

Question 2

What interest rate should I expect on a South Pasadena flip?

Accepted Answer

Rates vary by borrower profile and market conditions, typically 9-14% based on deal quality and your experience. Strong ARV comps and proven contractor relationships get better pricing.

Question 3

Can I use hard money on a historic home that needs major work?

Accepted Answer

Yes, if your budget accounts for design review and historic preservation requirements. Lenders want to see realistic timelines and contractors experienced with period properties.

Question 4

Do I need real estate investment experience to qualify?

Accepted Answer

First-time flippers can qualify with experienced contractors and conservative budgets. Lenders focus more on the deal's viability than your flip history.

Question 5

What happens if my South Pasadena renovation takes longer than 12 months?

Accepted Answer

Most lenders offer extensions at higher rates or require refinancing into bridge financing. Build buffer into your timeline for permit delays and design review.

Hard Money Loans in South Pasadena: Fast Capital for Investment Properties