When you’re working on a fix and flip property, there are places to spend and places to save. If you have secured fast funding from a private lender you will want to use that rehab loan in the smartest way possible. Here are a few ways you can save money, keep more of your rehab loan for bigger projects, and still make a profit off of your beautiful property. Continue reading
The inside of a home is where people spend most of their time, it’s true, but the exterior of a property is what they will see first. When you are working on a fix and flip, it makes sense to work toward a beautiful home with lots of curb appeal, as this will leave a great first impression on prospective buyers without costing a ton of money. Continue reading
Flipping a house may seem like a quick and easy way to make a profit, but if you have not thought about the bigger financial picture you should spend some time figuring out if you can afford to fix and flip before you jump into the project.
Usually, a fix and flip is relatively affordable up front because you are purchasing a lower value home. It is not as expensive as buying a home in better repair, but you do need to invest money – and sometimes a lot of it! – into the repairing part of a fix and flip. Continue reading
When rehabbing an investment property, there are certain jobs that you can do yourself, and others that it is recommended that you hire out to a licensed contractor. Just the fact that these professionals are licensed means that they are insured and certified, as there are risks associated with the job itself, or with the end product. You want to make sure that the property is safe and will remain safe for you or for the buyers! Continue reading
When you fix and flip a house, there are many ways to go. Depending on a number of factors, you will have to budget accordingly. In particular, time is a key factor, as there is a big difference between fixing and flipping a house that you plan to live in during the fixing part, and a fix and flip that happens over the course of only a few months, where you act as the project manager and/or contractor.
If you don’t mind living in a construction zone, it could be beneficial to fix the house while you are living in it. This is a particularly attractive option for Continue reading
In order to rehab the inside of a house and then resell it, there are certain skills that are essential to master in order to save money on your project and get the job done within the required timeframe. Luckily, these are mostly cosmetic jobs, and they are often the jobs that make the biggest difference in terms of the look and feel of a property.
Let’s have a quick look around the house and see what you should be able to do in each part of the house. Continue reading
Not surprisingly, bank loans for real estate tend to dry up once the bank sees you’ve got more than a couple of properties. Banks are less and less interested in making investment loans when they feel there’s more of a risk. And the more you owe, the bigger the risk they assume you’ll be. Of course, the opposite can also be true. The more properties you’ve invested in either as a rental property or a rehab, the more you learn about the process of renting and rehab. The answer for most people is to look to private money lenders for real estate. Continue reading
Fixing and flipping a property can generate a fair bit of income, if done wisely. We suggest three things to look for to set you on the right rack for a quick turnaround and a healthy profit. Continue reading
Borrowing from friends and family is typically frowned upon. The fear that the deal could go bad and you could lose the friendship or cause a family feud of epic proportions is not totally unfounded. There are good reasons to avoid borrowing from people whose relationships you value. Here are a few things to think about as you consider treating your friends or family as direct lenders. Continue reading
Even if you’ve filled out a loan application before, you probably feel like just filling out the paperwork is the hardest part of rehab property financing. Dealing with contractors is easy compared with applying for rental property loans. And don’t worry, it’s not just you. But some types of loans are easier to get than others. Here’s a comparison of how financing works through banks and private money lenders. Continue reading