Hard Money Blog: Invest, Revitalize, Create, Prosper

Late Payments on Hard Money Loans: How to Mitigate and Avoid Default

July 21, 2021 by Kyle Sennott Leave a Comment

Young Male Bookkeeper In Time Management Concept — About to miss a payment on a hard money loan? The key to avoid exceessive penalties (and default) is to communicate early and honestly. And be well-informed.

No one takes a hard money loan with a goal to default. In the ideal world, every fix-and-flip transaction would result in a profit for a rehabber and a performing loan for a private lender. At New Funding Resources, the majority of our borrowers never miss a payment, and less than 1% default on their hard money loan. That is not to say that problems do not arise from time to time. This is why borrowers need to know what it takes to stay current on their loan, what happens when the payment on your hard money loan is late, and how to avoid defaulting on your hard money loan.

Landlord’s Toolbox: Must-Have Tools for Rental Properties

July 20, 2021 by Kyle Sennott Leave a Comment

Home Maintenance Toolbox — Well-stocked landlord’s toolbox saves money, builds long-term wealth and keeps the tenants happy.

Every rental property requires maintenance to keep things in good order. Some landlords prefer to hire licensed and insured contractors for maintenance and repairs. Other landlords take a do-it-yourself approach, especially for minor repairs and basic maintenance. For landlords in the Greater Washington, DC area, a well-stocked landlord’s toolbox will come in handy to:

Rental Property Maintenance: Building Relationships & ROI

July 12, 2021 by Kyle Sennott Leave a Comment

A happy tenant is a sure sign there’s a happy landlord somewhere in the wings. Keeping happy, long-term tenants takes effort. However, the payoff is worth it. Purchasing a rental property is a serious investment – but it’s an investment that can provide an excellent return. Essentially, renters help landlords pay off the mortgage, leaving the landlords with equity. Rental property maintenance is one way to keep renters where they’re at. In the competitive rental market in the Greater Washington, DC area, attracting and retaining renters is an ongoing challenge.

Joint Venture: Is a Team Approach Right for You?

June 29, 2021 by Kyle Sennott Leave a Comment

Joint Ventures (JV) in Real Estate: Keys to Success

Maybe you shared a seat on the school bus or a room in your college dorm. Maybe you’ve been friends forever or just met last month in the Greater Washington, DC area. Whatever brought you together, you formed a bond with this individual and the company they work for, too. You make a good team, and you’re ready to take a team approach to real estate investing. Together, you are ready to share the risk and reward of a joint venture (JV).

Finishing a Basement to Increase Your Rehab’s Value

May 25, 2021 by Kyle Sennott Leave a Comment

Finishing a basement presents a unique opportunity to increase the after-repair value of your rehab. On the other hand, it might plague you with problems and be a bottomless drain of time and resources. If you are a real estate investor looking for the most efficient ways to improve the ROI of your rehab, decisions about the basement should be on top of your mind. Let’s dig deeper (no pun intended) to explore how to handle basement renovation decisions to make your money and minimize your risk.

Getting into house flipping with bad credit and no money – options and exceptions

May 13, 2021 by Kyle Sennott Leave a Comment

Man Showing Empty Pockets On Light Background Closeup Space For Text

One of the consistently trending online searches is how to get into real estate investing with no money and poor credit. A great number of sites and videos are dedicated to this topic. What they peddle most is an encouragement and “can-do attitude” that has little to do with reality. It makes me wonder if those so-called experts have even a slight understanding of how the real estate investing or lending industries work. So if you want to be told that having poor credit and no dime to your name makes you a great candidate for real estate investing, stop reading right now. Find an alternative source of information that would cuddle you into wasting your time and energy with false promises. My goal is different and this article is for those who both can handle the truth and are prepared to work on the long-term plan.

Hard Money Blog: Invest, Revitalize, Create, Prosper

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