Hard Money Blog: Invest, Revitalize, Create, Prosper

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.

Rental Property Carpet: Purchasing & Maintenance Tips

October 26, 2021 by Kyle Sennott Leave a Comment

Carpeting – it’s the surface where kids play, babies crawl, and families stretch out to watch movies. Carpets not only provide comfort and warmth to a rental home; they also add beauty and style to the décor.

Guide to Choosing a Rental Property Carpet

Carpet in a rental property in the DC Metro area is a high-maintenance and high-cost item. Carpeting typically costs $2-$4 or more per square foot. Combined with the carpet pad and installation, a landlord is likely to spend $500-$1,500+ on living room carpet alone. However, the investment has its rewards. A good-looking carpet is one of the biggest reasons a prospective tenant will choose to rent. Likewise, carpeting is one factor that contributes to lease renewal. Certainly, carpeting is an important feature of a rental property. When selecting carpet, savvy landlords buy smart and protect

Best Apps for Landlords

October 7, 2021 by Kyle Sennott Leave a Comment

If you are a landlord with more than one rental home, tracking rent payments, taxes, insurance policies, and vendor payments can become a job in itself. If you are like me, you might first attempt to keep tabs on all account payables and receivables in an Excel spreadsheet. For a while, it might even work. But as your portfolio expands, sooner or later you will need more than that to stay organized.

Of course, you can always hire a property management company to help you out. Doing so will undoubtedly ease your burden, but it will also cost you a pretty penny. Before you hire a professional firm to manage your rental portfolio, consider a plethora of landlord apps available on the market.

How to Choose the Right Title Company

October 6, 2021 by Kyle Sennott Leave a Comment

The finish line is near! You found an excellent property investment opportunity in the DC Metro area. Now you are ready to purchase the real estate property and begin your fix-and-flip – right after you close the deal. Before you begin renovating, you need to finalize the real estate transaction. You will need a good title company.

For many borrowers, choosing the title company is a decision they don’t put much thought in. However, working with the wrong title company can make even a simple transaction a nightmare. Why? First, …

Painting Rental Properties: Six Mistakes to Avoid

September 20, 2021 by Kyle Sennott Leave a Comment

Properties that look attractive are easier to rent out and keep filled in the DC Metro area. Additionally, an appealing rental property commands a higher price for rent. A fresh coat of paint is a simple and affordable way to make a property more appealing to prospective tenants. Fresh paint can turn a drab, tired-looking room into a clean, fresh environment, thereby dramatically improving its appeal. However, choosing the right paint can make all the difference. Here are six common mistakes landlords and property managers make when painting rental properties.

Hard Money Blog: Invest, Revitalize, Create, Prosper

Emotional Support vs. Service Animal

Guide to Choosing a Rental Property Carpet

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