Let’s talk about a hard money loan requirement that typically gets little attention – property insurance. Because the appropriate insurance is an essential condition to a private loan closing, the process of obtaining that first coverage is relatively smooth. Once we guide our borrowers through what kind of insurance they need as real estate investors, they quickly and easily purchase an appropriate policy. However, it’s when that initial coverage expires, the issues often start.
Hard Money Blog: Invest, Revitalize, Create, Prosper
How to Stay Within the Rehab Budget
Margins on a rehab project can be razor-thin, so it’s essential to set a realistic budget and stick to it. Underestimating the cost and scope of renovations could be the difference between turning a tidy profit and taking a financial hit. Spending more on a rehab than you anticipated will certainly cut into earnings, especially if the property is slow to sell once all of the renovations are completed. Going over budget is all too common in the house-flipping industry. Here are some house-flipping tips to ensure you get the best return on your real estate property investment in Maryland, Virginia, and Washington DC.
2023 Home Design Trends All Real Estate Investors Should Know
Trends come and go, and savvy rehabbers balance new styles with timeless classics to appeal to different types of home buyers. While incorporating all of the latest trends simply isn’t achievable on a fix-and-flip budget, real estate investors who know the up-and-coming home décor styles have a distinct advantage when it’s time to sell.
Roofing Materials: Pros and Cons of Each Type
When the signs point to a new roof for your investment property, you need to choose the appropriate roofing material for the renovation. Instead of simply going with the roofing material currently on the house or rental, it makes sense to evaluate the options.
When selecting a roofing material, consider the following five factors:
Home-Flipping Timeline: Get It Right
The house-flipping TV shows make it look so easy! Buy a house, do some renovations, put the house back on the market, and walk away with a juicy profit. The well-dressed, good-looking TV hosts make the fix-and-flip process look so quick, simple, and elegant. Although flipping homes in Maryland, Virginia, and Washington DC can be profitable, success requires developing and sticking to efficient home-flipping timelines. Let’s take a look at how long it takes to flip a house and how you can develop a fix-and-flip plan that maximizes your profits and minimizes your risk.
How to Negotiate with a Private Lender
Flipping homes can be a profitable side gig or a fulfilling career. Whether you are investing in real estate full-time or part-time, growing your profits depends on maximizing the value of each vendor you are working with. On the one hand, it’s paramount to control your costs. On the other hand, you need to ensure that your vendors are motivated to be reliable, fast, agile, and creative. Successful home flipping is a long-term process that involves several vendors. The most important are your real estate agent, contractor, and private lender. Today, let’s explore how to negotiate with your private lender to ensure you get the best deal.