Hard Money Blog: Invest, Revitalize, Create, Prosper

Hindsight’s 20/20. 2020 Prediction Review.

January 5, 2021 by Kyle Sennott Leave a Comment

2020 is over. What an incredible year it was. Despite its losses and hardship, I am grateful for many of its aspects. I am grateful because it reminded us that being human means being vulnerable. It showed us that no matter how invincible we feel, we share the same biology with a medieval bubonic plague victim and a Spanish flu survivor of 1918. It taught us that it’s possible to reach across the millennia to feel a kinship with those who lived, loved and died in the plagues of the past. Perhaps most importantly, it showed how dependent we are on each other, be it on our own family members or complete strangers. No man is an island. Our strength as a species is in cooperation with each other.

How to Start Investing in Real Estate

December 10, 2020 by Kyle Sennott Leave a Comment

Writing Note Showing Take Action Business Photo Showcasing Do Something Official Or Concerted To Achieve Aim With Problem Stationary Placed Next To A Cup Of Black Coffee Above The Wooden Table — If you are new to real estate investing, start with realistic goals and break them into smaller objectives

So you want to start investing in real estate? Let’s assume that you have some funds to invest in and have been pre-approved for a hard money loan by a reputable private money lender. Now you are ready to start looking for the right property to flip. Where do you begin? Here is some actionable advice that would help even new investors develop a killer strategy to grow rich in real estate.

Our New Hard Money Calculator is Finally Here

November 23, 2020 by Kyle Sennott Leave a Comment

We are excited to announce that we’ve finally launched a new version of our hard money calculator. We wanted to create a new version because we felt that all existing hard money calculators (including our old version) fall short of what our borrowers really need. They are clunky, difficult to use, and the results might be challenging to interpret. In addition, all of them look the same – as if they were copied from the same place.

We wanted our hard money calculator to be different. Our first requirement was an intuitive interface. Many newer borrowers do not consider all costs associated with buying, rehabbing, and selling an investment property. Our goal was to educate them that calculating your profits is more complex than subtracting the purchase price and the renovation costs from the after-repair value of the property. Even borrowers with experience and sophistication often neglect to account for some expenses – overestimating their projected profit as a result.

Outsmart Competition During the Holiday Season

November 6, 2020 by Kyle Sennott Leave a Comment

To get a head start on 2021 real estate investing, prepare to wheel and deal during the Holiday season. And, no, it would not make you a Grinch.

The Holiday season is upon us. Things traditionally slow down, priorities shift, and with the barrage of family responsibilities, it’s challenging to make time for real estate investing. Or so the conventional wisdom goes. In reality, it’s a unique opportunity to snatch a deal – while your competition is busy roasting chestnuts and sipping the eggnog.

Practical Tips on How to Get Your After-Repair Value Right.

October 16, 2020 by Kyle Sennott Leave a Comment

The main difference between private and traditional lending is that private lenders base their loans on the after-repair value of the property. In contrast, conventional lenders base it on the current market value. Both the after-repair value and the current market value is ultimately determined by a licensed appraiser. However, the after-repair value is the value that is not there at the time of the appraisal. It’s simply a projection of what the property might be worth once the planned renovations are completed. It’s based on the sale prices of similar properties rehabbed to the same extend our investor plans to rehab hers.

How Fast Can You Get a Hard Money Loan?

October 6, 2020 by Kyle Sennott Leave a Comment

The underwriting speed is one of the main differentiators between hard money loans offered by private lenders and conventional loans offered by traditional mortgage companies. “How long does it take to close?” is often the first question prospective borrowers ask. In many cases, this is a rhetorical question: if a new investor knows anything about private lending, it’s that it’s faster than other types of financing. Private lending does not provide consumer financing and is not subject to extensive regulations and requirements. Hard money financing is heavily focused on the property itself and its ability to both make money for the investor and serve as sound collateral for the lender. When working with investors, the cornerstones of conventional underwriting, such as credit scores or the ability to make payments in the long-term, might be less important.

Hard Money Blog: Invest, Revitalize, Create, Prosper

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