Phone: 240-436-2340
Maryland Hard Money Lenders. Private Loans in Maryland, Virginia & Washington, DC
They say a picture is worth a thousand words. When it comes to real estate transactions, a picture might be worth a thousand dollars or more. Professional photos present a property at its best. Thus, professional images engage potential buyers so much better than amateur photos.
When it’s time to sell a fix-and-flip home, you want to attract a buyer willing to pay top dollar. When potential buyers walk through your house, you want them to feel at home. They won’t feel at home in a house with empty rooms. Empty rooms are cold, uninviting, and impersonal. In contrast, homes with stylish furnishings and decorations are attractive and welcoming. As a result, buyers can easily visualize themselves living in these rooms. Thus, they are more likely to consider purchasing the property. To bring a home-like atmosphere into a rehab property, property investors rely on professional home staging.
Heating and cooling make a home comfortable and livable. Everyone loves a warm, cozy home in the winter and a cool, energizing home in the summer. Thus, heating, ventilation, and air conditioning (HVAC) is one of the most important systems in a home.
When evaluating a home’s value as a fix and flip investment in Maryland, Virginia, and Washington DC, be sure to determine the status of the HVAC system. Before making an offer on a DC Metro investment property, you need to understand the age, condition, and reliability of the HVAC. Bottom line, you will most likely need a home inspection by an accredited home inspector unless you have HVAC experience yourself.
Another requirement of any lender with sound underwriting standards is adequate reserves. Reserves are money left in the borrower’s disposal after they’ve made the required contribution towards the transaction. We often run into potential borrowers who are ready to go “all in” and invest their last dime in their fix-and-flip transaction. They effectively become a ticking time bomb ready to default on their obligations to their lender, their state, or their other creditors. Even worse, they are putting themselves in an unfortunate position where, instead of making money, they can lose it.
Whether you own a single investment property, multiple rental units, or a fixer-upper in the DC area, protecting the property from harm is a sure-fire way to protect your investment. A security system protects a property not only from criminal activity, like burglary and vandalism. Additionally, security systems can detect other threats, like fire, water damage, and carbon monoxide poisoning.
Landlords and house-flippers in Metro DC know that a beautiful yard is good for business. An attractive, well-kept yard is inviting to both tenants and house buyers. Additionally, landscaping improvements increase property value, so landlords can charge more for rent and rehabbers can earn more when selling a fix-and-flip home.
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New Funding Resources, LLC
806 West Diamond Ave.
Suite 340
Gaithersburg, Maryland 20878
Phone: 240-436-2340
All loans subject to our review of underwriting criteria and conditions. We reserve the right to approve or deny any loan application based on our sole discretion.
New Funding Resources 