What separates newbies from weathered rehabbers? What are the key differences between investors who can consistently turn solid profits by flipping homes and someone who is chasing a dream, even if it’s a pipe dream? As a hard money lender, I have some telltale signs of a real estate investor who is still has some maturing to do.
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Summer is the most active real estate season and the time when real estate prices peak. It can literally make or break the entire year. This summer was strong in the DC area. Prices remained stable and in some areas increased. What does it mean for real estate investors like you and I? Perhaps most importantly, how can we capitalize on those trends and make money by using hard money loans in Maryland?
Recently we had a client that approached us about doing a fix and flip loan for a property he was considering. We do these a lot so I was glad to help him and began asking him a few questions. When we got to the subject of how much financing he needed he said he wasn’t sure. He said he could guess the amount, but he wasn’t sure what to consider when estimating the rehab costs. Trust me, when it comes to a fix and flip loan, you don’t want to borrow too little or too much. Either way can get you into trouble. I can’t tell you everything that you will need to consider when you begin estimating the cost of a rehab, but I can give you some general places to look.
Hurray! You’ve read our blog, filled out our detailed application, talked to our underwriters and are now pre-approved for a hard money loan. What does it mean to be pre-approved? What are the next steps that you should take steps? Perhaps even more importantly, how can you leverage this pre-approval to make money in real estate? In this article we break the process down into three simple steps designed to give you peace of mind and help you snatch that perfect investment property.
When considering that perfect piece of property to invest in, it’s critically important to keep rehab costs low to maximize your profit. Even with the great hard money rehab loans we offer, we would still rather see you minimize your risk by knowing what to include is the cost of a rehab. Here are a few things to think about when it comes to one of the most expensive parts of a rehab, the roof.
Lead generation is the backbone of real estate investing and of any other business in general. In our 10+ years of doing business as a hard money lender, we’ve had an opportunity to see many investors succeed using drastically different strategies. This is why today we are introducing a new blog series on finding deals in real estate. Each article will cover one potential strategy of uncovering investment opportunities and running with them. The goal is to give you actionable ideas on how you can take those strategies and adapt them to your own style of doing business.