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An investor can make money either by reselling a house he has bought to another investor who will execute the renovations or conduct the repairs himself. No matter what the exit strategy of the investor is, he will need short term money to pay for the advance payment as soon as possible to prevent other investors from getting hold of the home. Bank loans take too long to process, which is why hard money lenders render an essential service to such investors. Although the expense of the funds would be greater than money obtained from banks, this will not matter so long as the investor makes a profit after deducting the costs.