Hard Money Blog: Invest, Revitalize, Create, Prosper

Inflation and the DC Real Estate Market

December 22, 2021 by Kyle Sennott Leave a Comment

Inflation and Washington DC real estate market

Yes, Jerome Powells, when a tray of sushi goes up in price by 20% in two weeks, it’s time to drop “transitory” as a description of the inflation we are living through. “Shocking” might be a better term for someone trying to feed a family. Or, perhaps, “befuddling,” if you are a real estate investor trying to decide on your strategy for the next year. So let’s talk more of what “befuddles” the experts and the novices alike: How the DC real estate market will stand up to inflation? Perhaps more importantly, is it still possible to make money investing in it in 2022?

Moneymaking Residential Architectural Styles for Investors

December 16, 2021 by Kyle Sennott Leave a Comment

urb appeal. It’s one of the first things that rehabbers consider when purchasing fixer-uppers in the local real estate market – Washington D.C., Maryland, Virginia, and Delaware. A home’s outward appearance factors into investment decisions. When purchasing a house as an investment property, it helps to know the residential architectural style. The style of a house creates its look and feel. It also influences the price it can fetch before and after the renovation. Residential architectural styles vary greatly, based on the home’s age, price, and location.

Credit Reports and Financial Well-Being

December 3, 2021 by Kyle Sennott Leave a Comment

In the world of mortgage lending, a good credit score ups the chances of qualifying for a conventional mortgage. Essentially, a high credit score shows that the borrower has a history of paying bills, repaying loans, and maintaining past and current accounts. Credit scores range from 300-850. Generally, a score of 670 or above is a good score.

Compared with traditional lenders, some hard money lenders are more willing to work with investors with poor credit. For example, New Funding Resources doesn’t require a minimum credit score for loan approval. We look beyond credit scores to make our underwriting decisions – but we do look at the scores. You should, too.

Short Sale: A Unique Option for Real Estate Investors

November 16, 2021 by Kyle Sennott Leave a Comment

At first glance, the term “short sale” invokes thoughts of a quick turnaround time in a real estate transaction. For example, a house in Washington D.C. goes on the market one day, and buyers hastily write offers the next. While this seems like a logical interpretation, a short sale actually has nothing to do with the time it takes to sell a real estate property.

Instead, a short sale refers to being “short” on money, specifically on the amount needed to pay the seller’s mortgage in full.

Draw Schedule in Private Lending: How to Get It Right

November 15, 2021 by Kyle Sennott Leave a Comment

Draw Schedule in Private Lending: What Is It and How to Create It

Many private lenders base their loans on the after-repair value of the home. An efficient and orderly renovation process is essential to reaching that value. This is why private lenders often hold the construction budget in escrow. By releasing this budget to the borrower in a series of draws, they ensure that the renovations are indeed taking place. The document that governs that process is called a draw schedule.

In private lending, a draw schedule is an agreement between a borrower and a lender on how to manage construction reserves held by that lender. It documents:

Landlord’s Guide to Emotional Support Animals

November 9, 2021 by Kyle Sennott Leave a Comment

Emotional Support Animal: Ladlord's Guide to Tenants with ESA's

According to the U.S. Department of Housing and Urban Development (HUD), landlords must provide reasonable accommodations to a person with a disability. These accommodations include emotional support animals.

Emotional Support vs. Service Animal

An emotional support animal is an animal that provides comfort just by being with a person. It’s important to note that an emotional support animal differs from a service animal. A service animal is any dog that has been individually trained to perform tasks or do work for a person with a disability. Because an emotional support animal hasn’t been trained to perform specific tasks, it doesn’t qualify as a service animal. A person with a service animal has different civil rights than a person with an emotional support animal. Landlords in Washington D.C., Virginia, Maryland, and Delaware should be aware of the laws governing both.

Hard Money Blog: Invest, Revitalize, Create, Prosper

Emotional Support vs. Service Animal

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